Lithium-ion batteries leading to deadly fires – and lawsuits
February 5, 2024 Philip PoradoCanadian property and casualty insurers may need to review their exposure to e-scooter claims, based on fresh claims emerging in the courts. A Vancouver woman is suing several makers of e-bikes and e-scooters following an apartment fire in 2022 in…
Should insurers help customers build back better…or not at all?
January 4, 2024 Philip PoradoIncreased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to…
Can Canada’s P&C industry catch up to NatCats?
December 14, 2023 Philip PoradoIn much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
What downtown ghost towns mean for commercial coverage
June 2, 2023 Philip PoradoVaccines have blunted the worst edge of COVID-19, and that has employers urging workers to come back to pricey office space in Canada’s downtowns – if only once or twice a week. But a high percentage of office workers aren’t…
Vacant retail and office space: How to advise clients on this post-pandemic trend
May 12, 2023 Philip PoradoWith office vacancy rates rising in many Canadian cities, brokers need to coach building owners on the need to manage their insurance obligations. A 2023 Q1 report from commercial real estate firm Coldwell Banker Richard Ellis (CBRE) Canada notes, “The…
Which insured perils are of most concern to your clients?
December 5, 2022 by David GambrillWinter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe…
Why new risks plague the hospitality sector post COVID-19
November 8, 2022 Alyssa Di SabatinoPeople can eat in restaurants across Canada without wearing a mask or providing proof of vaccination, a sign the risks initially associated with the spread of COVID-19 have lessened. But, with public health restrictions largely lifted, restaurant and bar owners…
More B.C. heat records fall, conditions prompt flood watch
July 28, 2022 by Jason ContantVANCOUVER – Temperature records are melting across British Columbia as a prolonged heat spell grips the province but Emergency Management BC says it is not anticipating an extreme heat emergency. A statement from the agency says residents should monitor temperature…
P&C industry must get better at modelling secondary perils: reinsurance exec
June 13, 2022 by Jason ContantThe property and casualty insurance industry in Canada and globally needs to improve its modelling and understanding of secondary perils, which have seen increased frequency over the past decade, says a speaker from Swiss Re during an industry event. “We…
Province, StatsCan partner on fire prevention pilot
June 9, 2022 The Canadian PressVICTORIA – Firefighters in British Columbia will soon have access to information to help identify neighbourhoods where the risk of home fires is greatest in an effort to prevent more needless deaths, says the province’s fire commissioner. The commissioner’s office…
Canada’s most exposed insurance lines
May 31, 2022 by Jason ContantExposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices…
Ford recalls vehicles including nearly 3,000 SUVs in Canada over fire risk
May 20, 2022 The Associated PressDETROIT – Ford has issued three recalls of more than 350,000 vehicles in North America, including nearly 3,000 in Canada and 39,000 in the U.S. due to a risk the engines could catch fire. Transport Canada said in a recall…