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News Insurance

B.C. amends law in effort to address high condo and townhouse insurance premiums

September 16, 2020 The Canadian Press

VICTORIA – The B.C. government has announced regulatory changes aimed at bringing more transparency to condo insurance premiums that have risen by as much as 40 per cent. The Finance Ministry says effective Nov. 1, insurers or insurance agents will

News ClaimsClaims CanadaLegal

Appeal judge: Is the lack of a privacy-breach tort in this province ‘anachronistic’?

September 14, 2020 by Greg Meckbach

British Columbia’s courts need to take a close look at the question of whether the province has a tort for breach of privacy, an appeal court judge suggested in a recent decision arising from a data breach at a Vancouver-based

News Earnings / RatingsInsurance

Pandemic relief: Keeping the size of auto insurance discounts in perspective

September 14, 2020 by Greg Meckbach

Sometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance

News Insurance

Province offers money for areas hit by spring and summer flooding

September 11, 2020 The Canadian Press

WINNIPEG – The Manitoba government says it will be offering Disaster Financial Assistance to three areas hit by flooding in the spring and summer.   Infrastructure Minister Ron Schuler says eligible costs from high water during spring flooding along the

News Insurance

The next big step in accelerating real-time data exchange

September 10, 2020 by Jason Contant

The Canadian property and casualty insurance industry intuitively understands the benefits to brokers, carriers and consumers of better connectivity — it’s a matter of getting everybody moving in the same direction, an industry veteran told Canadian Underwriter recently. “Moving data

News Insurance

Why your clients aren’t feeling too good these days

September 9, 2020 by Adam Malik

Whether it’s your personal or commercial clients, neither are feeling too optimistic about their financial situation as the COVID-19 pandemic continues to stress them out, a pair of recent surveys have found. But the head of the national broker association

News Insurance

Why the status quo can be dangerous in the construction insurance world

September 9, 2020 by Jason Contant

“We’ve always done it this way” are six dangerous words in the construction world, and equally dangerous for those trying to assess or procure adequate insurance for construction projects. “Doing what we’ve always done rarely is OK when we’re facing

News Claims Canada

Why these home buyers won a $100,000 lawsuit

September 8, 2020 by Greg Meckbach

A recent Ontario court ruling arising from a major structural defect in a cottage country home shows why a homeowner should get the vendor to complete a seller property information sheet (SPIS) before agreeing to a purchase. “The law can

News Insurance

National broker association appoints new broker connectivity lead 

September 4, 2020 by Jason Contant

The Insurance Brokers Association of Canada (IBAC) has announced the appointment of Tom Reid as the new broker connectivity lead for the association’s Data Exchange (DX) project.   “Broker connectivity is a key priority for IBAC, and the pandemic has intensified

News ClaimsClaims CanadaLegalLegislation / RegulationRestoration

Flood repair: Why this condo owner had to pay strata fees for an uninhabitable unit

August 28, 2020 by Greg Meckbach

A British Columbia resident who had to move out for nearly six months for flood restoration work still has to pay his monthly fees to the strata corporation, the B.C. Civil Resolution Tribunal has ruled. Ye Yuan said that from

News Insurance

Non-resident property owners allowed back in Newfoundland and Labrador soon

August 27, 2020 by Jason Contant

ST. JOHN’S, N.L. – People who own property in Newfoundland and Labrador but who don’t live there full-time can apply to enter the province next week. Dr. Janice Fitzgerald, the province’s chief medical officer of health, said Wednesday that the

News Insurance

How possible is a hybrid insurance model for the sharing economy?

August 24, 2020 by Jason Contant

Being able to distinguish between personal and commercial usage is one of the biggest unique differences with underwriting for the sharing economy, but the abundance of data available makes a hybrid insurance model possible, Economical Insurance said recently. “You can