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Business interruption class action against Aviva Canada now fully certified in Ontario

September 17, 2021 by Greg Meckbach

An Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording…

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Drought weakened trees, fall storms could mean more power outages: BC Hydro

September 17, 2021 by The Canadian Press

VANCOUVER – Residents across British Columbia are being advised to prepare a well-stocked emergency kit for what BC Hydro warns could be a stormy fall and winter made worse by the effects of a severe summer drought. The latest report…

News InsuranceMergers and Aqcuisitions

Biggest insurers will soon control more of the market: A.M. Best

September 16, 2021 by Greg Meckbach

Canada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…

Quadcopter drone with 4K video camera flying in the air News Insurance

Flying high: Drone use in insurance

September 16, 2021 by Brooke Smith

By 2022, 2.85 million small drones will be flying the friendly skies, according to projections by the Federal Aviation Administration. Our numbers are nowhere near as high. According to Transport Canada, as of Aug. 31, 63,200 drones were registered in…

News ClaimsClaims CanadaClimate ChangeInsurance

Why Intact CEO predicts more rate increases for homeowners

September 16, 2021 by Greg Meckbach

Despite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,”…

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Contrary to popular belief, Eastern Canada is more at risk of earthquakes than perceived

September 16, 2021 by The Canadian Press

By Jeremy Rimando, Postdoctoral Research Fellow, Structural Geology and Tectonics, McMaster University and Alexander Lewis Peace, Assistant Professor (Structural Geology), McMaster University – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news,…

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How one MGA keeps employees moving — virtually

September 15, 2021 by Brooke Smith

You may not know the Mayo Clinic’s Dr. James Levine. But you’ve likely heard his now-famous phrase: “Sitting is the new smoking.” With many employees sitting in front of a computer in the comfort of their homes for the past…

News CatastrophesClaimsClaims CanadaInsurance

Why A.M. Best says the Canadian industry profitability is improving

September 15, 2021 by Greg Meckbach

Despite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The…

News Insurance

Westland announces third acquisition in one-week period

September 15, 2021 by Jason Contant

Westland Insurance Group Ltd. has announced the acquisition of Tredd Insurance Brokers in Toronto and Calgary, one week after it acquired two other brokerages in Alberta. Tredd Insurance offers commercial insurance, with specialties including but not limited to transportation, oil…

News Insurance

How insurers are approaching mandatory vaccinations

September 15, 2021 by Jason Contant

Two Canadian mutual insurers have announced they are implementing vaccination policies for their workforces. Gore Mutual Insurance Company and Wawanesa Mutual Insurance Company made the announcements earlier this week. “After hearing from employees, and keeping the health and well-being at…

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B.C. not effectively overseeing safety of dams: auditor general 

September 15, 2021 by The Canadian Press

VICTORIA – The British Columbia government has not effectively overseen the safety of the 1,900 dams it regulates, says the auditor general.   Michael Pickup said the Ministry of Forests, Land, Natural Resource Operations and Rural Development has not adequately verified…

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Insurer, MGAs give employees more time off during pandemic

September 14, 2021 by Brooke Smith

The pandemic has spurred MGAs and one insurer to offer additional paid time off and be more generous with their vacation policies. AXA Group announced Sept. 7 that it was giving its 153,000 employees worldwide two additional paid days off…