Hub acquires two western Canadian hail insurance providers
Hub International Limited has acquired two western Canadian crop hail insurance companies within a two-week period. Hub announced on Mar. 4 it had acquired Leduc, Alta.-based AG Direct Hail Insurance...
View ArticleWant lower liability exposure for athletes? Don’t play sports in B.C.
A recent Supreme Court of British Columbia case points to the difference between the standard of care for sports negligence claims in B.C. compared to the rest of Canada. In Miller v. Cox, the court...
View ArticleInsurer reveals Top 5 auto fraud claims of 2022
Some claims show obvious elements of fraud but others go above and beyond. Such was the case with Saskatchewan Government Insurance’s (SGI) Top 5 “eyebrow-raising” attempted auto insurance frauds from...
View ArticleWhat claims may come from the Alberta wildfires
While it’s too early to estimate losses, Canada’s P&C industry is anticipating incoming property damage claims due to Alberta wildfires and insurers may have already begun to see claims from...
View ArticleSome residents return home two weeks after Alberta wildfire evacuation
The mayor of a west-central Alberta town said it was emotional to return home nearly two weeks after an out-of-control wildfire forced residents to flee, but thousands elsewhere remain on edge as...
View ArticleLosses adjusters don’t want to see from Alberta wildfires
With wildfires raging on across Alberta and the west, adjusters are hoping the fires stay remote and spare populous areas from catastrophic losses. “We are seeing some claims and anticipate seeing many...
View ArticleWhat’s changing the way commercial brokers view loss control?
It’s possible the pandemic, combined with the P&C industry’s ongoing hard market, may have permanently altered how insurers assess their risk appetites. And brokers wise to this shift have adjusted...
View ArticleBrokers, insurers differ on the value of numerous flood products for home owners
Canada’s property and casualty insurance brokers have long maintained the need for a unified flood map, but insurers want to compete on their proprietary flood maps, and the ongoing differences between...
View ArticleM&A frenzy continues with multiple deals announced
Correction: The article has been amended to show Andrew Agencies has 22 locations, not 200 as previously reported. Canadian Underwriter apologizes for the error. On the heels of separate deals that...
View ArticlePrairie drought continues, forcing farmers to write off crops
Saskatchewan farmers forced to write off drought-afflicted crops are being asked to consider ways to turn those crops into cattle feed instead. The Agricultural Producers Association of Saskatchewan...
View ArticleWhy you shouldn’t negotiate insurance contracts with emojis
Brokers and underwriters would be wise to avoid the use of emojis when negotiating insurance contracts, based on a recent ruling in Saskatchewan. Back in 2019, an Israeli judge found the use of a...
View ArticleIs third-party liability a significant driver of auto claims costs?
Subrogation for third-party liability (TPL) in Saskatchewan doesn’t appear to have a significant impact on the cost of insurance for drivers in the province, a Saskatchewan Government Insurance (SGI)...
View ArticleFeds predict parts of Canada could see wildfires through winter
OTTAWA – The latest federal government forecast says Canada’s already unprecedented 2023 wildfire season could continue late into the fall or winter. Energy and Natural Resources Minister Jonathan...
View ArticleWestland, Hub’s latest P&C acquisitions
Westland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity. Westland Insurance acquired Saskatchewan personal and...
View ArticleMajor merger of three Navacord commercial brokerages
Three Navacord brokerages are merging to create one of the largest commercial brokerages in Saskatchewan, the company announced Tuesday. Henderson Insurance, Hoffmann Kool Insurance, and Life Line...
View ArticleNew president for national brokers’ association
Traci Boland is the new president of the Insurance Brokers Association of Canada (IBAC). Boland is partner and manager at Ontario West Insurance Brokers and Bill Blaney Insurance Brokers. She holds...
View ArticlePolicy exclusion? Watch your exceptions in multiple-cause losses
Underwriters must pay close attention to the policy wording they use in their exceptions to exclusions, lest insurers find themselves on the hook for covering losses with two or more suspected causes....
View ArticleWhere auto and home insurance rates are headed
Hard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all...
View ArticleWhy more Canadian drivers are using winter tires
Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and...
View ArticleClimate change battering municipal finances across Canada
MONTREAL – The hamlet of Gore, Que., had the foresight to start preparing for more intense annual flooding due to climate change a decade ago. That’s when the rural township 60 kilometres northwest of...
View ArticleHow restoration firms are growing in Canada
With natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements. Intact subsidiary On Side Restoration...
View ArticleSnowstorm inbound for Metro Vancouver as winter weather rages across Canada
VANCOUVER – Environment Canada says a snowstorm is expected to hit Metro Vancouver, Greater Victoria and beyond, bringing up to 20 centimetres of accumulation and possible freezing rain to southern...
View ArticleBrokerage sees nearly 200% increase in cold weather claims
With temperatures plummeting across Canada recently, one insurance brokerage has seen a 191% increase in cold weather-related claims in the early days of 2024 compared to 2023. “Over the past couple of...
View ArticleHome, auto rate increases in 2023 “highest…seen in years.”
Canadian auto insurance rates increased 10% in 2023 compared to 2022, and similarly home insurance rates saw an increase as well — up 6.6% last year, according to the latest release of the Applied...
View ArticleHow home insurance premiums are trending
Canadian home insurance policyholders should brace for price increases this year following a nearly 8% year-over-year increase since the beginning of the year, according to internal data from rate...
View ArticleWhat Western Canada’s deep freeze cost insurers
Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the...
View ArticleWhat commercial and personal lines brokers make in 2024
Across the country, commercial lines P&C broker executives and commercial lines team leads make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows....
View ArticleInsurer’s Top 5 insurance fraud claims of 2023
An intoxicated driver who reported her car stolen to avoid the consequences of impaired driving and fake invoices for high-end jewellery reportedly stolen from a vehicle were among Saskatchewan...
View ArticleWhy climate change on the farm equates to a big bill
To get an idea of the financial toll extreme weather is taking on this country’s agriculture industry, look no further than the government of Saskatchewan’s books. The prairie province had forecast a...
View ArticleDrought, heat raise risk of repeat of last summer’s record-breaking wildfires
Persistent drought and months of above-average temperatures have raised the risk of a repeat of last year’s record-breaking wildfires. Federal officials say conditions are already ripe for an early and...
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