Brokers try to manage client stress over auto repair timelines
July 25, 2023 Philip PoradoSpare parts shortages continue to cause significant auto insurance claims delays, and a scarcity of adjusters is, in some cases, exacerbating the issue. Many problems brokers are now seeing and helping clients manage wouldn’t have popped up in prior years,…
Atlantic Canada assesses damage from post-tropical storm Fiona
September 26, 2022 by Jason ContantPost-tropical storm Fiona swept through Atlantic Canada and eastern Quebec this weekend, knocking out power to hundreds of thousands of people, washing away homes and cottages, and causing widespread flooding and infrastructure damage. While the insured and economic damages associated…
How de-globalization will generate $33 billion in commercial premiums
September 9, 2022 by David GambrillCountries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial…
Brokers: Do your clients have the right amount of vehicle loss-of-use coverage?
August 30, 2022 by Jason ContantAlthough supply chain issues show some signs of easing, these challenges are still causing lengthy repair times for vehicles that extend well past standard loss-of-use coverage. In other words, clients may need to pay out of pocket for months’ worth…
How China-Taiwan tensions are affecting Canada’s supply chain
August 15, 2022 by Jason ContantAlthough there has been some easing in supply chain issues around the world, other disruptions are coming into play, a marine expert from Allianz Global Corporate & Specialty (AGCS) told Canadian Underwriter in an interview. One major disruption is escalating…
July auto sales in Canada down 16% from last year as shortages persist
August 5, 2022 The Canadian PressTORONTO – DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available vehicles. The consultancy estimates 130,480 new light vehicles sold in the month as…
Bank of Canada surveys suggest business and consumer inflation expectations up
July 4, 2022 Craig Wong - THE CANADIAN PRESSOTTAWA – A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers. In its business outlook survey released Monday, the central bank said businesses’ expectations for near-term inflation have increased,…
Businesses bracing for high inflation to stick around over next two years: survey
April 4, 2022 Adena Ali - THE CANADIAN PRESSThe Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook…
Manufacturers look to budget for help on supply chain problems, domestic production
April 1, 2022 Jordan Press - THE CANADIAN PRESSOTTAWA – The federal Liberals are being asked to muscle space in next week’s budget to help Canada become more productive, and lay investments to lure new companies as part of a push to simplify pandemic-strained supply chains. For years,…
How supply chain back-ups are contributing to cargo theft
March 9, 2022 by Jason ContantSupply chain disruptions and back-ups due to COVID-19 and other factors (such as a shortage of drivers or trucks to deliver product) are contributing to concerns around cargo theft, a transportation industry expert says. “When you have more [cargo] that’s…
Truckers say vaccine requirement for crossing border will exact economic toll
January 12, 2022 Christopher Reynolds - THE CANADIAN PRESSMONTREAL – Truckers are warning that a Jan. 15 deadline requiring them to be vaccinated in order to enter Canada will put additional strain on supply chains amid the latest COVID-19 surge and severe worker shortages. As of Saturday, truck…
Key B.C. highway reopens to truck traffic after flood damage; rebuilds supply chains
December 21, 2021 The Canadian PressVANCOUVER – British Columbia’s “hobbled” supply chains received a major boost with the reopening of the primary transport route for goods heading to and from Metro Vancouver, a spokesman for the trucking industry said. The Coquihalla Highway between Hope and…