Topic Quebec
How much will Fiona cost Canadian P&C insurers?
September 27, 2022 by Jason ContantPost-tropical storm Fiona could cost the Canadian property and casualty insurance industry between $300 million and $700 million, ratings agency DBRS Morningstar said in a commentary Tuesday. “Fiona will likely be one of the largest catastrophic events in history for…
Atlantic Canada assesses damage from post-tropical storm Fiona
September 26, 2022 by Jason ContantPost-tropical storm Fiona swept through Atlantic Canada and eastern Quebec this weekend, knocking out power to hundreds of thousands of people, washing away homes and cottages, and causing widespread flooding and infrastructure damage. While the insured and economic damages associated…
Where and when Hurricane Fiona is projected to hit Canada
September 21, 2022 by Jason ContantEnvironment Canada (EC) has issued a tropical cyclone warning for the Atlantic provinces and southern Quebec as Hurricane Fiona is expected to impact the region starting Thursday evening and continuing into weekend. “This storm is shaping up to be a…
Navigating climate change: How shipping is adapting in the St. Lawrence
September 8, 2022 by The Canadian PressBy Claude Comtois, Professeur emerite de geographie, Universite de Montreal – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the…
Feds’ task force reveals preferred flood insurance models
August 30, 2022 by Alyssa DiSabatinoA federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the…
One key difference between a builders’ risk policy and a liability policy
August 30, 2022 by David GambrillStarr Insurance & Reinsurance Limited does not have to defend its insured in a Quebec construction case, because its builders’ risk policy is essentially a property policy, not a liability policy, Quebec’s Superior Court has ruled. In construction, a builders’…
Behind the scenes of an aggressive brokerage consolidator
August 19, 2022 by Jason ContantSynex Business Performance plans to end this year with more than $1 billion in premium, a far cry from its humble beginnings of $3 million in premium just seven years ago. Currently, the Quebec City-based holding company has about $800…
Court orders Travelers to defend “your work” exclusion case in Quebec
August 17, 2022 by David GambrillQuebec’s Court of Appeal has rejected Traveler’s challenge of a Wellington-style motion that requires the insurer to defend a construction contractor in a “your work” exclusion case against Quebec’s attorney general. The appeal court also rejected Tuesday Traveler’s motion to…
BRP operations to remain frozen until next week after cyberattack shutdown
August 12, 2022 by The Canadian PressVALCOURT, Que. – Work at BRP Inc. factories will likely stay at a standstill until next week after a cyberattack that the Sea-Doo maker reported Monday. “Our teams continue working around the clock to resolve the situation and have made…
Is the personal lines hard market abating?
August 4, 2022 by Jason ContantPersonal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted…
Will this week’s weather events result in Cat damages?
July 25, 2022 by Alyssa DiSabatinoWhile Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s…
The factors driving increased car rental times in Canada
July 25, 2022 by Jason ContantLength of rental (LOR) for collision replacement-related rentals in Canada jumped nearly six days year-over-year, driven in part by ever-changing parts availabilities and repair backlogs, said car rental agency Enterprise Rent-A-Car. The overall Canadian LOR was 16 days in 2022…