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Multi-line brokerage Andrew Agencies Ltd. announces acquisition of McCracken Insurance M.I.L. Ltd.

March 24, 2017 by Canadian Underwriter

Multi-line brokerage Andrew Agencies Ltd. announced on Thursday the acquisition of Airdrie, Alta.-based McCracken Insurance M.I.L. Ltd. Andrew Agencies will acquire McCracken Insurance on April 3, the former said in a press release. The new Airdrie location will be the

News CatastrophesInsuranceMergers and Aqcuisitions

Husky spill in southwest Alberta estimated at 25,000 litres; cleanup going well

March 23, 2017 The Canadian Press

CALGARY – Husky Energy says about 25,000 litres of crude oil leaked from one of its pipelines in southwestern Alberta last week. Spokesman Mel Duvall said in an email to The Canadian Press that cleanup at the site at Cox

News CatastrophesInsuranceMarkets / Coverages

Southeastern Saskatchewan should expect above normal spring runoff flows: Water Security Agency

March 10, 2017 by Canadian Underwriter

The Saskatchewan Water Security Agency (WSA) has released its March 2017 Spring Runoff Forecast, saying that the majority of the province is looking at a near normal spring runoff, “with the exception of southeastern Saskatchewan and areas west of Hudson

News CatastrophesInsuranceMergers and Aqcuisitions

Parts of Manitoba, Saskatchewan hit by blizzard, travel extremely dangerous

March 7, 2017 The Canadian Press

Snow, high winds and low visibility made travel extremely dangerous in parts of Manitoba and eastern Saskatchewan Tuesday as a blizzard howled through the region for a second day. Manitoba said the Trans-Canada Highway and highways 16, 5 and 45

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

2016 insured losses for Canadian cats reached about $4.9 billion last year – 10 times more severe than 2015: PCS

March 7, 2017 by Canadian Underwriter

Insured losses from catastrophe events in Canada reached about $4.9 billion last year, nearly 10 times more severe than 2015, the quietest Canadian catastrophe year on record, according to Property Claim Services’ (PCS) full-year 2016 review. In 2016, PCS designated

News InsuranceMergers and Aqcuisitions

Partnership creates “Canada’s largest Indigenous-owned insurance agency”

March 6, 2017 by Canadian Underwriter

TIPI Insurance Partners and IMI Brokerage Company have announced a partnership to create “Canada’s largest Indigenous-owned insurance agency,” providing property insurance, pension plans and group benefits designed exclusively for Indigenous people. Announced late last week, the partnership roughly doubles TIPI’s

News CatastrophesInsuranceMergers and Aqcuisitions

Cleanup of oil spill in Saskatchewan cost $107 million, Husky Energy says

February 24, 2017 Dan Healing - THE CANADIAN PRESS

CALGARY – A major oil pipeline spill last year in Saskatchewan cost $107 million to clean up, a $17-million increase from a September estimate of $90 million, according to pipeline operator Husky Energy (TSX:HSE) of Calgary. The pipeline rupture last

News CatastrophesInsuranceMergers and Aqcuisitions

Crop insurance coverage levels in Saskatchewan increasing to a record $217 per acre this year

February 23, 2017 by Canadian Underwriter

Crop insurance coverage levels in Saskatchewan are increasing to a record $217 per acre in 2017, up from $216 per acre in 2016. A joint press release from Saskatchewan Crop Insurance Corporation (SCIC) and Agriculture and Agri-Food Canada on Thursday

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Canadian auto sales to edge down in 2017: Scotiabank

February 7, 2017 by Canadian Underwriter

Canadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Second, smaller spill reported in Saskatchewan by Tundra Energy Marketing Ltd.

February 2, 2017 The Canadian Press

STORTHOAKS, Sask. – The Calgary-based company handling a pipeline spill that saw 200,000 litres of crude leaked onto First Nations farmland in Saskatchewan is now dealing with another, albeit much smaller, spill. On Wednesday night, the National Energy Board issued

News CatastrophesClimate ChangeMergers and AqcuisitionsReinsurance

2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie

February 1, 2017 by Angela Stelmakowich

2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification

News Earnings / RatingsInsuranceMarkets / Coverages

Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank

January 17, 2017 by Canadian Underwriter

The global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent