Keyword
property
Update on Yellowknife wildfire
August 21, 2023 The Canadian PressYELLOWKNIFE, N.W.T – Firefighters battling a wildfire near the capital of the Northwest Territories shifted from defence to offence Monday after a weekend of cooler temperatures, favourable winds and some rain. “We’re in a position to move to direct attack…
Aviva Canada’s first-half experience in personal lines
August 16, 2023 by David GambrillAviva Canada’s 2023 half-year results in personal lines are a mixed bag, with strong results on the personal property side, but the insurer is taking initiative to shore up its personal auto results. Overall, the company reported half-year growth of…
How insurers are deliberately addressing silent cyber
March 30, 2023 by Jason ContantCyber insurers are now deliberately addressing silent cyber coverage in insurance policies, a Marsh executive said Wednesday at NetDiligence’s Cyber Risk Summit in Toronto. “With property [insurance policies]…I’m not seeing silent cyber anymore. I’m seeing very purposeful underwriting,” Karen Continenza,…
How personal lines are shaping up heading into 2023
March 13, 2023 by Alyssa DiSabatinoPersonal lines in Canada’s property and casualty insurance industry still show signs of the hard market, with both personal auto and property showing mid single-digit rate increases at year-end 2022, a new report said. Overall, premium rate changes increased for…
How the recession will affect personal lines
January 24, 2023 by Alyssa DiSabatinoAn impending recession could mean unaffordability for personal lines policyholders who make up almost half (49%) of the industry’s direct property premiums, an expert at the Insurance Institute of Canada’s Industry Trends & Predictions: 2023 webinar said. Insurers will need to…
Where Ontario’s 2022 fire-related deaths ranked
January 13, 2023 Philip PoradoOntario’s 133 fire-related deaths during 2022 were the highest in more than 20 years, the province’s Fire Marshal Jon Pegg said in a Jan. 3 tweet. In comparison, 2021 saw 124 fire-related deaths. There were 115 fire-related deaths in 2020…
Stability, finally? What insurers and brokers can look forward to in 2022
November 12, 2021 Brooke SmithBrokers and insurers may see some stabilization in the market in 2022. “We saw tremendous rate pressure, high operating ratios, and low ROIs in 2019 and 2020,” said Kevin Neiles, president, Western Canada and chief markets officer at Gallagher, during…
Canadian home sales up 76% year over year, set new March record: CREA
April 15, 2021 Tara Deschamps, The Canadian PressA trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across…
How to make tenant insurance applications more user-friendly
June 10, 2020 by Greg MeckbachIf you think it is easy for clients to apply for tenant insurance, you might want to consider how much trivia those tenants actually know about the property they occupy. “Every insurance application has questions that aren’t user-friendly and they…
Dozens of businesses damaged after Montreal anti racism rally
June 1, 2020 THE CANADIAN PRESSMONTREAL – Eleven people were arrested after tensions flared between protesters and police on Sunday night following a Montreal demonstration demanding justice for a black man who died following a police intervention in Minnesota. Demonstrators had gathered to denounce racism…
What can go wrong if ‘actual cash value’ is not clearly defined in a property policy
May 19, 2020 by Greg MeckbachAfter a 132-year-old Cape Breton Island building was heavily damaged by a sprinkler line failure, there was a huge disparity between the property owner and insurer’s versions of “actual cash value.” The claimant said $1.59 million, while the insurer said…
How bad the industry’s loss has been in 2019 so far
September 13, 2019 by Greg MeckbachThe Canadian property and casualty industry lost money on underwriting during the first six months of 2019 – a performance worse than 2016, when Fort McMurray was devastated by wildfire, A.M. Best Company Inc. reported Friday. “2019 could be another…