A B.C. court has ruled in favour of an insurance brokerage in a dispute over whether or not its broker recommended bumping up a claimant’s Uninsured Motorist Protection (UMP) from $1 million to $2 million before the claimant was catastrophically injured in a car accident. Neither the broker nor the claimant could recall the discussion […]
By David Gambrill | April 30, 2024
4 min read
VANCOUVER — Confused shoppers milled around the front of a London Drugs store in downtown Vancouver on Monday, some wondering aloud why they couldn’t access the store to get prescriptions or buy hair dye. A metal gate was blocking them from the store at the corner of West Georgia and Granville streets, a security guard […]
By Alyssa DiSabatino | April 30, 2024
4 min read
Alberta’s long-awaited reports on auto insurance reform have waded into the controversial topic of public versus private auto insurance. A government-commissioned actuarial report by Oliver Wyman concludes B.C.- or Manitoba-style public auto insurance would lead to more significant premium savings for Alberta drivers than a private model reform proposed by Insurance Bureau of Canada (IBC). […]
By David Gambrill | April 29, 2024
4 min read
Underwriters have tightened their underwriting controls to better price for cyber risk from its 2021 high, but claims frequency in 2023 has nevertheless increased 13% since the previous year, cyber insurer Coalition reports. Claims severity across the board also increased 10% year-over-year. “The uptick in overall claims frequency and severity among Coalition policyholders is indicative […]
By Alyssa DiSabatino | April 26, 2024
2 min read
Environment Minister Steven Guilbeault is looking for options to protect a southern Ontario First Nation from repeated exposure to benzene from a nearby chemical plant, as the plant issues a new warning about air pollution. Leaders from Aamjiwnaang First Nation and international environment advocates wrote to Guilbeault on Thursday asking him to take immediate steps […]
By Jason Contant | April 26, 2024
3 min read
Editor’s note: An earlier version of this article incorrectly stated that the 2016 Fort McMurray wildfire cost nearly $6 billion in insured damage, citing 2016 loss totals for that year from Insurance Bureau of Canada. However, the $6 billion total was for the entire year of 2016; the Fort McMurray wildfire itself cost about $4 […]
By Jason Contant | April 26, 2024
4 min read
Tactical evacuations have started in northeastern British Columbia as wildfires tear through the area. An update from the B.C. Wildfire Service Wednesday night said efforts are focused on protecting public life and safety in the Peace River Regional District and the District of Chetywnd, which are both within the Prince George Fire Centre. The service […]
By Jason Contant | April 25, 2024
3 min read
The Manitoba government is planning to end its ban on homegrown recreational cannabis — a move that would leave Quebec as the only province with such a restriction. “We’re just allowing Manitobans to have the same rights that people in the rest of Canada have,” Premier Wab Kinew said Tuesday. After legalizing recreational cannabis in […]
By Jason Contant | April 24, 2024
2 min read
Your clients’ cars store a lot of their personal data — from biometrics to driving habits, phone contacts, and more — and that can expose them to cyber-attacks. Modern cars use sensors and connected technology to make driving easier, safer and more seamless. The problem is, they may also expose drivers to personal data breaches and […]
By Alyssa DiSabatino | April 24, 2024
3 min read
Canada’s property and casualty insurers are starting to discuss a ‘Plan B’ for an earthquake backstop, given the federal government’s slow progress on establishing a national flood insurance program. Insurance Bureau of Canada president and CEO Celyeste Power talked about the urgent need for an earthquake backstop at the IBC’s Financial Affairs Symposium last Wednesday. She […]
By David Gambrill | April 23, 2024
3 min read