Schools in Newfoundland’s capital are closed today, due to the threat of inclement winter weather. The head office for NLSchools in St. John’s will be open, but officials say not until 11:00 a.m. local time. This week’s hazardous winter conditions are continuing along much of the province’s eastern coastline. Environment Canada’s winter storm warnings remain […]
By Jason Contant | February 15, 2024
1 min read
Intact Financial Corporation (IFC) has reported elevated catastrophe losses in 2023, raising its combined operating ratio (COR) by 4.3 points since 2022. “The past year has been challenging for society, particularly in the face of numerous natural disasters,” said Charles Brindamour, CEO of IFC. “Despite shouldering elevated catastrophe losses as a result, the business demonstrated […]
By Alyssa DiSabatino | February 14, 2024
2 min read
As the Toronto Public Library gradually works to restore full service following a crippling October cyberattack, experts are warning that public organizations need to find ways to bolster their ransomware defences, despite having limited resources. A few months after the library attack, another city-owned institution suffered a digital breach: the Toronto Zoo announced last month […]
By Jason Contant | February 14, 2024
3 min read
An increasing number of your clients are expressing interest in water endorsements on home insurance policies, according to data from rate aggregator Rates.ca’s home insurance quoter. The rate comparison website found 36% of all home insurance quotes on the tool added water endorsements in January 2024, a 39% year-over-year increase. It would appear brokers’ discussions […]
By Jason Contant | February 14, 2024
3 min read
Canadian auto insurers can expect to write off electric vehicles (EVs) rather than try to repair their expensive, damaged batteries, says a report by Morningstar DBRS. “The most expensive component of an EV is the battery, often embedded in the chassis of the vehicle and protected by its undercarriage,” Morningstar DBRS says in its report […]
By David Gambrill | February 13, 2024
3 min read
Many clients’ commercial property limits aren’t being adjusted for inflation, and that’s unduly exposing brokers to errors and omissions (E&O) claims, one commercial litigation lawyer observed. Inflationary increases are typically applied to all building values upon renewal. The problem is, in many instances, commercial building limits aren’t being updated in accordance with inflation. That’s leaving […]
By Alyssa DiSabatino | February 13, 2024
3 min read
SAGUENAY, QUE. – There will be no colourful ice-fishing huts dotting the frozen water near Saguenay, Que., this year after mild winter weather forced authorities to cancel the popular tradition for the first time. The municipality about 200 kilometres north of Quebec City announced last week that the ice wasn’t thick enough to open the […]
By Jason Contant | February 13, 2024
3 min read
Based on what’s taking place in other jurisdictions, lawsuits over accidents involving e-scooters will likely rise in Canada – particularly in Alberta, British Columbia and Ontario, where some municipalities permit their use on public streets, park trails, or sidewalks. Municipalities are already having issues finding affordable insurance. But some may be at further risk of […]
By Phil | February 12, 2024
3 min read
CALGARY – The company building the Trans Mountain pipeline expansion has been cited for environmental non-compliance related to its management of recent flooding in B.C. The Canada Energy Regulator said Thursday its inspection officers found issues near Abbotsford, B.C., where Trans Mountain Corp. has been working on the final stretch of the multi-year oil pipeline […]
By Jason Contant | February 12, 2024
1 min read
The National Summit on Combatting Auto Theft ended in Ottawa yesterday with a commitment to develop a detailed plan to be released in “winter.” The Government of Canada convened the meeting between government officials of all levels, industry leaders — including several property and casualty insurance organizations — and law enforcement representatives to discuss solutions […]
By David Gambrill | February 9, 2024
4 min read