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Households expect return to pre pandemic spending within a year, Bank of Canada says

April 12, 2021 by Jordan Press, The Canadian Press

OTTAWA — Canadian household spending will eclipse earnings in the coming months as vaccinations increase and uncertainty from the pandemic recedes, The Bank of Canada said in a report released Monday. The central bank says the gap between spending and…

News Insurance

Commercial P&C execs to discuss the impact of the hard market in Canada

April 9, 2021 by David Gambrill

Canadian Underwriter will be hosting a webinar, Commercial lines post-COVID: What the future holds, on Monday, Apr. 12, at 1 pm ET, to talk about the impact of the hard market on Canada’s commercial lines segment. The webinar will discuss…

News Insurance

How to bring the risk of catastrophic events home to your clients

April 9, 2021 by Jason Contant

Canada’s property and casualty insurance industry needs to ramp up its public education efforts to bring the risk of catastrophic events home to the Canadian population, speakers said Thursday during the virtual CIP Society Symposium 2021. “I don’t like to…

News InsuranceLegislation / Regulation

Why B.C.’s tax collector tried to burn Mutual Fire for an extra $4.5 million

April 9, 2021 by Greg Meckbach

British Columbia’s income tax commissioner must re-visit a decision to bill Mutual Fire Insurance Company of British Columbia an extra $4.5 million in premium taxes and interest from the 2012 and 2013 taxation years. Mutual Fire appealed the ruling by…

News Commercial LinesLegalLegislation / RegulationRisk

Etiquette for asking if your employees are vaccinated

April 9, 2021 by Greg Meckbach

Asking your workers whether or not they got their COVID-19 vaccine shot is not necessarily a good idea. “If you are going to require employees to disclose their vaccination status, you need to consider the nature of the workplace,” said…

News Insurance

Canadian Museum of History CEO resigns after probe into alleged workplace harassment

April 9, 2021 by Teresa Wright - THE CANADIAN PRESS

OTTAWA – The head of the Canadian Museum of History has resigned following reported allegations of workplace harassment at the national institution. Museum CEO Mark O’Neill has been on a medical leave since last summer, when an independent investigation was…

News Appointments

Former Zurich Canada CEO to head up university reciprocal exchange

April 8, 2021 by Greg Meckbach

Patrick Lundy is about to take the reins of Burlington, Ont.-based Canadian University Reciprocal Insurance Exchange (CURIE). Lundy, CEO of Zurich Canada from 2012-17, will be CEO of CURIE effective Apr. 19, 2021. Until recently, Lundy was senior vice president…

News Insurance

Repair cycle times in Canada: Where it takes the longest to get a car fixed

April 8, 2021 by Adam Malik

Alberta is the only Canadian province where the average days billed for rental vehicles increased in 2020 Q4, according to a recent report. And it appears to be thanks to the almost $2 billion in insured damages the province suffered…

News ClaimsClaims CanadaLegal

Supreme Court of Canada considers municipal liability in snow removal decisions

April 8, 2021 by Greg Meckbach

Municipalities are not liable for “policy decisions” on matters such as snowplowing, but lawyers disagree on exactly what kind of a “policy decision” could shield a government from liability in a personal injury lawsuit. “Back home in Newfoundland, when there…

News Insurance

Three large Canadian brokerages announce separate M&A deals

April 8, 2021 by Jason Contant

Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while…

News Insurance

Fire sweeps through unfinished condos in Kelowna, B.C., forcing nearby evacuations

April 8, 2021 by The Canadian Press

KELOWNA, B.C. – A condominium development under construction in Kelowna, B.C., has been severely damaged in a fierce early morning blaze. Flames broke out in a new phase of the Parklane townhouse complex on Kelowna’s north side on Tuesday. Fire…

News CatastrophesClaimsClaims CanadaInsuranceMarkets / Coverages

Pandemic will cost the global P&C industry more than $250 billion: Lloyd’s

April 7, 2021 by Greg Meckbach

The pandemic will cost the global insurance industry at least US$200 billion, Lloyd’s predicts. “We estimate that the global insurance industry will pay around US$203 billion in claims and due to a reduction in asset values as a result of…