Topic Quebec
Auto insurance doesn’t always apply just because an auto’s involved
November 29, 2022 by David GambrillTwo Quebec Court of Appeal decisions in 2022 demonstrate it’s not enough to show an auto is involved in a claim for an insured to be eligible for compensation under the province’s auto insurance scheme, a Quebec lawyer writes in…
What reinsurance renewals could look like on Jan. 1
November 23, 2022 by David GambrillGlobal reinsurers are expected to raise property catastrophe rates “by well over 10%” in exposed areas during January 2023 renewals, a Fitch Ratings report stated. “We expect double-digit percentage premium rate rises for property catastrophe cover in 2023 driven by…
How hurricane losses will impact pricing and capacity
November 21, 2022 by Philip PoradoWatch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”…
Will inflation stop Canadians from buying winter tires?
November 17, 2022 by Alyssa DiSabatinoEven when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC). However, brokers will be interested to know…
Aspiring brokerage owners share the biggest obstacles for ownership
November 8, 2022 by Alyssa DiSabatinoWhat’s the biggest barrier to brokerage ownership for the 30% of brokers who aspire to one-day buy their own firm? Financing, according to results from a Canadian Underwriter online survey. Of the 30% of broker respondents who want to own, exactly…
The best way to support young prospective broker owners
November 4, 2022 by Alyssa DiSabatinoMentorship and training are the best ways to support young brokers who aspire to senior leadership or brokerage ownership roles, say brokers responding to a Canadian Underwriter online survey. However, brokerage principals and their employees aren’t fully aligned on how…
‘Race discrimination’: Indigenous Quebec man who lived on reserve denied insurance
November 4, 2022 by Sidhartha Banerjee CANADIAN PRESSMONTREAL – An Indigenous Quebec man who was denied car insurance because he lived on a reserve was the victim of race discrimination, the province’s human rights commission concluded in a recent decision. Alexis Wawanoloath, a lawyer and ex-Parti Quebecois…
New senior executive for two major P&C brand names
November 2, 2022 by Jason ContantInsurance industry veteran Guy Lecours has been appointed chief operating officer of L’Unique and Unica, effective Nov. 21. Christian Fournier, executive vice president and lead of property and casualty insurance at Beneva, announced the appointment Wednesday. Lecours succeeds Yves Gagnon,…
Fiona officially the costliest extreme weather event in Atlantic Canada
October 19, 2022 by Jason ContantHurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also…
How new truckers can get a better ‘insurance experience’
October 13, 2022 by Philip PoradoTo reduce claims rates for Alberta-based trucking companies, and loss ratios for commercial trucking insurers, an Insurance Bureau of Canada (IBC) executive said training regimens aimed at improving the quality of drivers entering the sector needs to improve. At 120…
Condo association calls for changes to help corporations recoup losses
October 11, 2022 by Jason ContantQuebec’s association representing condo corporations is reiterating a call on the newly re-elected provincial government to amend the Civil Code of Quebec to allow condo corporations to better recover losses from co-owners. Currently, condo corporations (called syndicates in Quebec) are…
Are driver shortages fuelling a spike in Alberta trucking claims?
October 11, 2022 by Philip PoradoBorder crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified…