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British Columbia


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Shifting Landscape

September 5, 2017 Justin Moresco, Senior Product Manager, RMS

After a shaky start, earthquake is steadily gaining profile among stakeholders from governments to policyholders about the risk and the importance of having plans in place. Nowhere in Canada is awareness higher than on the west coast of British Columbia, which abuts the ring of fire. But even there, a shift in thinking is under way as to what areas could produce the largest insured losses should a quake occur.

News CatastrophesMarkets / CoveragesMergers and Aqcuisitions

Huge wildfires in B.C. could smoulder until next spring, says official

September 1, 2017 The Canadian Press (CPSTF)

WILLIAMS LAKE, B.C. – A municipal leader in British Columbia’s central Interior says he wouldn’t be surprised if wildfires that have chewed through more than 10,600 square kilometres of woodland won’t be fully out until 2018. Chairman Al Richmond of

News CatastrophesInsurance

Evacuees return home near Kelowna, B.C., as wildfire continues to burn

August 28, 2017 The Canadian Press (CPSTF)

KELOWNA, B.C. – Hundreds of people forced from their homes by a wildfire burning east of Kelowna, B.C., have been allowed to return, but others remain displaced. The Central Okanagan Regional District said an evacuation order for 263 properties was lifted Sunday morning and about 600 residents are now allowed to go home.
About 400 other residents remain under evacuation order due to the flames, and people who have been allowed to return will remain on evacuation alert, meaning they must be prepared…

News InsuranceLegislation / RegulationMarkets / Coverages

Making ICBC a co-op one option for B.C., competition must be part of any option selected: taxpayers federation

August 25, 2017 by Canadian Underwriter

The British Columbia government has options at its disposal to address auto insurance problems in the province – ranging from leaving the Insurance Corporation of B.C. (ICBC) to shuttering the insurer – but all should include reintroduction of competition, concludes a new report commissioned by the Canadian Taxpayers Federation (CTF). CTF argues that “fast and furious changes” are needed in light of the “looming 30% hike to car insurance,” a figure noted in an Ernst & Young LLP (E&Y) report made public last month. Among its many observations, the…

News AppointmentsInsuranceMergers and AqcuisitionsProfessional Development

Wawanesa names Chris Henn as president of U.S. operations

August 24, 2017 by Canadian Underwriter

Wawanesa Mutual Insurance Company, one of the largest property and casualty insurers in Canada with a growing presence in the United States, announced on Thursday that Chris Henn has been appointed president of its U.S. operations effective Aug. 31. Prior

News InsuranceLegislation / RegulationMergers and AqcuisitionsProductsTechnology

B.C. Green Party leader to re-introduce ridesharing legislation in the fall

August 22, 2017 by Canadian Underwriter

The leader of the BC Green Party said on Monday that he will re-introduce legislation this fall to enable ridesharing in the province.
Andrew Weaver said in a press release that he has twice introduced the Ridesharing Enabling Act, once in April 2016 and again in February 2017.
“All parties want to see B.C. be a leader in the emerging economy,” Weaver said in the release. “To do so, government must take a proactive, responsive approach that considers the wide ranging impacts of technological innovation. Vancouver is the largest…

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Tug vessels that collided had no formal safety management systems: TSB

August 21, 2017 by Canadian Underwriter

A May, 2016 collision between two logging tugs near Nanaimo, British Columbia demonstrates that some marine firms are “not effectively managing their safety risks,” the Transportation Safety Board of Canada said in a report released Thursday. On May 24, 2016,

News CatastrophesConstructionInsuranceMarkets / CoveragesMergers and Aqcuisitions

B.C. extends province-wide state of emergency for the third time

August 18, 2017 by Canadian Underwriter

British Columbia’s Ministry of Public Safety & Solicitor General announced on Friday that it has formally extended its province-wide state of emergency for the third time. The state of emergency now runs through to the end of the day on

News InsuranceMarkets / CoveragesProducts

Many polled Canadians aren’t researching options before buying financial products: LowestRates.ca survey

August 16, 2017 by Canadian Underwriter

While Canadians may head online to compare prices on flights or when booking a hotel, most aren’t researching their options before buying financial products, according to a new survey from comparison site LowestRates.ca. The online survey, conducted last month by

News InsuranceMergers and Aqcuisitions

80% of polled Canadians not properly insuring belongings when moving to new homes

August 16, 2017 by Canadian Underwriter

Eight of 10 Canadians taking part in a survey from Square One Insurance Services Inc. report not properly insuring their belongings while moving to their new homes. With more than 300,000 Canadians moving to new homes in different provinces each

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

More vehicle crashes, increased injury payouts and higher vehicle repair costs contributing to proposed rate hike: ICBC

August 15, 2017 Jason Contant, Online Editor

A greater number of vehicle crashes, increased injury costs and higher vehicle repair costs are all contributing to the increase in proposed insurance rates for drivers in British Columbia, the province’s Crown corporation responsible for auto insurance said on Monday.

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Backcountry closures due to wildfires put further economic damper on B.C. region

August 14, 2017 The Canadian Press (CPSTF)

WILLIAMS LAKE, B.C. – Businesses in British Columbia’s wildfire-ravaged Cariboo region are bracing for more economic hardship after the closure of much of the backcountry during peak tourism season. Executive director Claudia Blair of the Williams Lake Visitor Centre says