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News Insurance

What’s behind reduced auto risk sharing pool usage

March 11, 2021 by Adam Malik

The use of risk sharing pools for private passenger auto insurance in Ontario and Alberta dropped last year, according to Facility Association. And when it came to the overall usage of risk sharing pools across the country, there was a

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Mother Nature’s wrath

December 7, 2020 Derek Clouthier

Alberta continues to endure the most expensive insured weather events in Canada.  What’s happening and what can be done about it?

News InsuranceLegislation / RegulationTechnology

Why insurers incurred penalties for over-charging Alberta auto clients

October 2, 2020 by Greg Meckbach

Programming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to

News InsuranceLegislation / Regulation

What happens in Alberta when auto insurers are not comfortable with their profitability

September 23, 2020 by Greg Meckbach

The Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday

News Insurance

P&C insurers can handle severe weather events, but for how long?

July 27, 2020 by Adam Malik

Canadian property and casualty insurers should be able to manage well financially for the time being, despite currently dealing with a pandemic and the fourth-most expensive natural catastrophe in the country’s history, says global credit rating agency DBRS Morningstar. However,

News Insurance

How many claims the Calgary hail storm caused

July 16, 2020 by Greg Meckbach

The industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The

Feature Brokers

Briefing Note: Alberta

July 3, 2020 Canadian Underwriter Staff

Before COVID-19 hit Canada in March, George Hodgson, CEO of the Insurance Brokers Association of Alberta, says “a good chunk of habitational personal property was probably doing okay.” At least, outside of the condo market. Brokers are struggling to place

News CatastrophesInsurance

How ‘actual cash value’ could be affecting some Alberta hail victims

June 26, 2020 by Greg Meckbach

If some Alberta homeowners are only getting a small fraction of the cost to repair properties damaged in the recent hail storm, that could be the result of choosing a policy that only covers actual cash value, Insurance Bureau of

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Auto total loss claims escalate after Calgary hail storm: IBC

June 24, 2020 by Greg Meckbach

The industry is expecting well over 20,000 claims from the recent Alberta hail storm, and some vehicles were wrecked badly enough that they have to be written off, the Insurance Bureau of Canada reports. “We are hearing from several consumers

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How pandemic could complicate claims adjusting after Alberta hail storm

June 22, 2020 by Greg Meckbach

The COVID-19 pandemic could complicate the movement of adjusters if help is needed from south of the border to deal with the aftermath of the recent southern Alberta storm. “I think customers by and large are recognizing that it’s complicated

News ClaimsLegislation / Regulation

Alberta drivers push back against no-fault

June 9, 2020 by Adam Malik

Albertans would rather stick with its at-fault auto insurance system than switch to a no-fault program, according to a new survey. More than six in 10 Albertans (61%) surveyed told Nanos Research that they prefer at-fault over the no-fault system.

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Kernaghan Adjusters’ new hire will be essential to Fort McMurray flooding response plan

May 1, 2020 by Kernaghan Adjusters

FORT MCMURRAY, AB, MAY 1, 2020/InsPress/ – Kernaghan Adjusters (KA) , Canada’s most reliable independent adjusting firm – is pleased to welcome back Christie Belok-Bunn CIP to the Alberta team. Christie began her career as a Claims Adjuster after attaining