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Tips for brokers on insuring high-value homes

July 12, 2018 by David Gambrill

High-value homes are good for business, knowing how to rate them properly is a must. Brokers need to be aware that high-value, custom-built homes or renovations should not be put on Standard Build when determining insurance to value, a broker…

News BrokersInsuranceTechnology

How blockchain will help brokers bypass traditional insurers

July 12, 2018 by David Gambrill

Vancouver-based Fineqia International Inc. has taken an equity allocation in Black Insurance, a Tallinn, Estonia-based digital insurance startup on the blockchain that has set its sights on creating a direct investor-to-broker relationship, bypassing the need for a traditional insurance company.…

News Claims

 ‘Potential risk’ to Toronto area prompts increased police presence

July 12, 2018 by Peter Goffin - THE CANADIAN PRESS

Information about a “potential risk” in the Greater Toronto Area (GTA) led to an increase in police presence in Toronto’s downtown core on Thursday, but officers insisted the public should not avoid any of the city’s attractions, prompting confusion among…

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

How this top-tier Canadian brokerage plans to double its revenue in 5 years

July 11, 2018 by David Gambrill

Navacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private…

News Markets / Coverages

Canadian benchmark interest rate up 0.25 percentage points

July 11, 2018 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions. The rate hike was the central bank’s…

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What the court said about a family law approach to “spouse” in auto AB claim

July 11, 2018 by David Gambrill

The meaning of the term “spouse” under the Family Law Act is not applicable when determining eligibility for accident benefits under an auto insurance policy, an Ontario court has ruled in a priority dispute between insurers. In Royal & Sun…

News ClaimsInsurance

One tip you can offer clients to help prevent basement flooding

July 11, 2018 by Greg Meckbach

Do your home insurance clients ever look at their sump pumps? A homeowner may have a sump pump and not realize that the motor has seized up or that the circuit breaker has tripped. To be on the safe side,…

News ClaimsInsurance

Chemical spills from 1960s cost property owner $2 million

July 11, 2018 by Greg Meckbach

An Ottawa drycleaner has to pay a neighbouring property owner nearly $2 million because of environmental contamination that happened more than 40 years ago. Eddy Huang, who owns properties on Bank Street north of the Billings Bridge, sued drycleaner Fraser…

News ClaimsLegal

Parents of Humboldt Broncos player killed in crash sue truck driver, bus maker

July 10, 2018 by THE CANADIAN PRESS

REGINA – The family of one of the Humboldt Broncos players killed in a highway crash has filed a lawsuit alleging a semi-truck driver with inadequate training failed to stop at a flashing stop sign at a rural intersection hidden…

News CatastrophesClaimsInsurance

Tropical Storm Chris could make landfall on Newfoundland

July 10, 2018 by Greg Meckbach

Newfoundland’s Avalon Peninsula could get wind gusts of up to 100 km/h this week as a result of Tropical Storm Chris, which is expected to be upgraded to hurricane status Tuesday. Tropical Storm Chris was in the Atlantic Ocean more…

News AssociationsClaimsInsurance

Insurers subsidize Toronto basement flood pilot

July 10, 2018 by Greg Meckbach

A pilot program aimed at getting homeowners to reduce basement flood risk is getting a subsidy from the Insurance Bureau of Canada and Intact Centre for Climate Adaptation. The Toronto Home Resilience Program, which involves 200 homeowners, aims “help home…

News BrokersInsuranceMarkets / Coverages

Where capacity is tightening in general liability lines

July 10, 2018 by David Gambrill

In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity that are now starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity…