Should insurers offer incentive for remote water shut-off?
May 6, 2019 by Greg MeckbachIf your client owns a multi-storey commercial or residential building and installs a system that lets them shut water off immediately if necessary, how easy is it to get a break on insurance? “To the best of our knowledge there…
Health and safety inspection teams head to flood affected zones in New Brunswick
May 3, 2019 Kevin Bissett - THE CANADIAN PRESSFREDERICTON – Health and safety inspection teams are fanning out across flood-affected regions of New Brunswick, assessing homes and businesses that are still drying out amid receding floodwaters. New Brunswick’s Emergency Measures Organization says the teams will inspect electrical systems…
Intact’s BrokerLink makes double acquisition
May 3, 2019 by Jason ContantBrokerLink has announced the acquisition of two brokerages: the Athabasca, Alta. branch of JDR Insurance and Guelph, Ont.-based Amplex Insurance Brokers Ltd. Both transactions were effective May 1 and terms of the transactions were not disclosed, BrokerLink said in a…
2018 ‘not a good year’ for Canadian P&C insurers: IBC
May 2, 2019 by Greg MeckbachWeak investment results and problems with auto insurance in most provinces were among the factors leading to a bad year for insurers in 2018, Insurance Bureau of Canada’s chairman suggests. “Last year was not a good year for the property…
Best incentives to get homeowners to move out of floodplains
April 29, 2019 by Jason ContantMassive flooding in Quebec has shined the spotlight on suitable incentives that may get homeowners to move out of floodplains. Quebec Premier François Legault said recently that the province will offer a maximum of $100,000 to homeowners dealing with flood…
Is wind “the new water” for Canada’s insurers?
April 25, 2019 by Jason ContantHigh winds contributed in part to most catastrophes in Canada over the past few decades, prompting the need for a new national standard on wind resilience, the Institute for Catastrophic Loss Reduction (ICLR) said Thursday. A report released by ICLR…
How sales commissions can result in disputes over vacation pay
April 24, 2019 by Greg MeckbachIf you employ commissioned sales people, how are you calculating their vacation pay? Calculating employees’ vacation pay can be an issue for any company whose sales staff earn both a base salary and commission, Toronto employment lawyer Andrew Monkhouse, managing…
One key ingredient missing from this province’s auto reform proposals
April 24, 2019 by David GambrillNewfoundland & Labrador has introduced a slew of changes intended to help stabilize insurance rates – and a cap on minor injuries, implemented in many other Canadian provinces, isn’t one of them. Instead, the provincial government is proposing to raise…
Is the industry taking a consistent approach to overland flood coverage?
April 23, 2019 by Jason ContantAre carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup…
Spring melt floods thousands of Quebec homes
April 22, 2019 by Jason ContantNearly 2,400 homes in Quebec have been flooded following the spring melt in the province, according to statistics released early Monday morning by the provincial government. The flooding has resulted in the evacuation of more than 1,500 residents. The city…
Alberta’s new government: What next for the auto rate cap?
April 22, 2019 by David GambrillAs the newly-elected United Conservative Party (UCP) prepares to take power in Alberta, it remains an open question what the victory will mean for the province’s auto insurance companies and brokers. In his electoral victory speech, UCP Leader Jason Kenney…
Debate rages over whether a cyber attack is an act of war
April 18, 2019 by Jason ContantCan a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following…