News

The City of Revelstoke, B.C., has been found 35% contributorily negligent for not adhering to a recommendation contained in a 2011 risk management audit, which advised to maintain painted ‘No diving’ signs on a raft in Williamson Lake Park. “The…

Company leaders should constantly identify recurring themes in employee feedback and surveys, congregate that data, and then determine upskilling options for talent development, a recent blog from Harvard Business Review says.   Upskilling is a longer-term investment in augmenting the knowledge,…

It’s been a hit and miss for Usage-Based Insurance (UBI) in Canada since it was first introduced about a decade ago, but brokers believe it will survive well past the pandemic-induced uptake of the past two years. “It’s going to…

Business interruption, cyber incidents, and climate change have been dubbed the Top 3 risks facing Canadian businesses this year, according to a new report.   Although these were Canada’s Top 3 risks, Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer…

OTTAWA – Headline inflation in Canada hit a 30-year high at the end 2021 with warnings from economists that the pace of price increases could rise even higher and stirring expectations of a central bank response before the month is…

Condo insurance premiums in Canada appear to be stabilizing following years of premium and deductible increases. “You should see some flattening, maybe some tapering, in some insurance rates in this sector in the near future for most good risks and…

Cyber insurance was once seen as a bright spot for the commercial insurance industry, with lower loss ratios and higher profitability than other major areas of commercial coverage. Fast forward a few years and Fitch Ratings is reporting 2020’s direct…

British Columbia’s costliest severe weather event in provincial history just got more expensive. Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Friday that the Canadian property and casualty insurance industry expects to pay out $515 million for claims…

Financial Services Regulatory Authority of Ontario (FSRA) has changed its approved auto policy forms to align with the government’s amendments to the Insurance Act, in what is widely being considered a welcomed change by the industry.   Most notably, this change includes the…

WINNIPEG – The grand chief of the Assembly of Manitoba Chiefs says the latest court settlement for property owners affected by devastating flooding more than a decade ago is fair. The Manitoba government diverted water from the Assiniboine River to…

Crawford & Company has promoted Victoria Hanson to be its director of sales, National TPA (third party administrator) in Canada. She will report to Jeff Setterington, Crawford Canada’s vice president of sales, effective immediately. “Victoria has a strong proven track…

Home insurance policyholders can expect an average 5% rate increase in 2022, according to a report from RatesDotCa.   The average cost for home insurance in Ontario in 2021 was $1,342, per RatesDotCa. A 5% increase would translate into a…