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Debris blown into air as explosions and fire rock Alberta industrial park

September 6, 2018 by The Canadian Press

NISKU, Alta. – Explosions and large flames lit up the night sky when a fire broke out at a recycling business in an industrial park south of Edmonton. The blaze erupted late Wednesday night at a Nisku-area company that recycles…

News InsuranceLegal

Ontario auto insurer’s examiner gets day in court

September 5, 2018 by Greg Meckbach

Last week’s court ruling against a prominent personal injury lawyer could give Ontario auto insurers’ medical examiners recourse if those doctors feel their conduct has been publicly maligned. Dr. Howard Platnick is a Toronto physician who does medical examinations for…

News BrokersProfessional Development

How to handle grieving clients

September 5, 2018 by Jason Contant

Brokers are used to responding to clients’ questions about their insurance needs, but are they always able to effectively handle grieving customers? The million-dollar question is how to ensure brokers are building enduring and caring customer relationships, while also protecting…

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How much buyers are willing to pay for online books of business

September 5, 2018 by Jason Contant

Buyers are pricing in potential future market disruption, such as online distribution, when buying a broker’s books of business, a P&C transaction advisor told Canadian Underwriter Wednesday. Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory said he…

News ClaimsInsuranceLegislation / Regulation

Cannabis legalization raises questions on host liability

September 5, 2018 by Greg Meckbach

The legalization of marijuana next month leaves some key questions for commercial clients who serve alcohol. “What if an individual comes in already smelling of marijuana and the bartender is unsure what their level of impairment is?” asked Mouna Hanna, …

News Risk

Unpredictable sinkhole in Nova Scotia takes bite out of parking lot

September 5, 2018 by The Canadian Press

OXFORD, N.S. – A large sinkhole that has swallowed trees and picnic tables in a Nova Scotia park has now taken a bite out of a parking lot, as the natural phenomenon continues to capture the attention of geological experts…

News AdjustersCatastrophes

How carriers envision the future of independent claims adjusters

September 4, 2018 by Greg Meckbach

Despite increased costs of outsourcing claims adjustment, an extreme wind event this past May serves as a reminder that insurers will continue to need independent claims adjusters and brokers should be prepared to field calls from claimants. The future of…

News Catastrophes

B.C. wildfire not expected to grow further

September 4, 2018 by Spencer Harwood - THE CANADIAN PRESS

PRINCE GEORGE, B.C. – British Columbia’s wildfire service says precipitation and favourable weather have allowed it to contain one of the province’s largest active wildfires, more than a month after it was initially discovered. After growing to more than 900…

News Insurance

Ontario teachers acquire Kanetix Ltd.

September 4, 2018 by David Gambrill

Ontario Teachers’ Pension Plan (OTPP) has agreed to acquire Kanetix Ltd., a digital customer acquisition platform and marketplace providing online quotes for insurance and financial products. Many details about the acquisition are not yet known, and financial terms were not…

News Legislation / Regulation

‘No desire’ for this insurer to demutualize

September 4, 2018 by Greg Meckbach

Two months after Economical Insurance submitted its demutualization proposal to the federal government, another federally-regulated mutual has all but completely ruled out demutualization. There is “no desire” for demutualization at Heartland Farm Mutual Inc., Louis Durocher, Heartland’s new president and…

News Insurance

IBC’s proposal to prevent carriers from exiting this province’s auto market

September 4, 2018 by David Gambrill

Insurers in Newfoundland and Labrador are calling on politicians to make structural changes to the province’s auto insurance system, saying their recommendations would better align the province’s auto premiums with those elsewhere in the Atlantic region. Specifically, insurers are calling…

News Mergers and AqcuisitionsReinsurance

Aspen Insurance agrees to be taken private

September 1, 2018 by Greg Meckbach

Aspen Insurance Holdings Ltd., which writes risks in Canada, has tentatively agreed to be bought for US$2.6 billion. If the deal closes, Hamilton, Bermuda-based Aspen will be owned by private equity firm Apollo Global Management LLC of New York City.…