Editor’s Note: An earlier version of this article said that CFC established the cyber monitoring centre when in fact they were the driving force behind its establishment. As well, the article implied that the centre has a link to insurance language, which it doesn’t. The centre is hoping to classify cyber events for U.K. organizations. […]
By Jason Contant | January 30, 2024
3 min read
Editor’s Note: The Ontario Superior Court decision incorrectly identified the auto insurer in this case as Echelon Insurance. Echelon has contacted Canadian Underwriter to confirm it has reached out to the court to correct the public record and it did not in fact defend Jolene Freire. Canadian Underwriter apologizes for the confusion the original version […]
By David Gambrill | January 30, 2024
4 min read
Ontario’s financial services regulator has revoked the healthcare service provider licence of a Markham clinic and imposed administrative penalties against the clinic and two individuals in connection with fraudulent billing practices. The Financial Services Regulatory Authority of Ontario (FSRA) revoked the service provider licence and administered a $200,000 penalty against Gibson Wellness Centre Inc. (Gibson […]
By Jason Contant | January 29, 2024
3 min read
Anyone seeking clarity on how the federal government’s Emergencies Act was supposed to apply to auto insurance cancellations won’t find it in the Federal Court of Canada’s latest ruling. The Federal Court of Canada last Tuesday found the federal government’s use of the Emergencies Act during the 2022 Freedom Convoy protest was unconstitutional. It found […]
By David Gambrill | January 29, 2024
5 min read
HALIFAX – Most schools across Nova Scotia are closed today after an overnight snowstorm moved into the province and headed to eastern Newfoundland. Snowfall warnings are in effect for Nova Scotia’s Atlantic coast from Yarmouth in the south to Sydney in the north, as well as Pictou and Antigonish counties on the north shore. Up […]
By Jason Contant | January 29, 2024
1 min read
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 Rating Index. “The close of 2023 saw the highest premium rate index for both personal auto and personal property seen in […]
By David Gambrill | January 26, 2024
2 min read
Officials in B.C. are warning of heavy rainstorms for the South Coast region starting on Saturday. Environment and Climate Change Canada says West Vancouver Island and the Coast Mountains could receive up to 300 millimetres of rain over five days, from Saturday Jan. 27 to Wednesday Jan. 31. The Howe Sound area could receive as […]
By Jason Contant | January 26, 2024
1 min read
Even though overall financial results for the Canadian P&C insurance industry were only slightly worse in 2023 compared to the previous year, personal property lines should raise concerns for underwriters, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC). The latest issue of PACICC’s Solvency Matters reported the overall Net […]
By Jason Contant | January 26, 2024
3 min read
There seems to be a disconnect between drivers and their insurers about the ability to access personal auto coverage when driving for food delivery or rideshare companies like Uber, Lyft and others. While there’s no hard data to quantify a trend, Jesica Ryzynski, a claims specialist with Mitch Insurance, said she’s seeing more claims in […]
By Phil | January 26, 2024
3 min read
Large corporate cyber clients in Canada saw pricing decreases last year and one cyber underwriter expects the market for those risks will flatten out in 2024. “In 2023, we did see some fairly significant softening in the market; prices were effectively decreasing,” John Sinclair, a senior underwriter with CFC Underwriting, told Canadian Underwriter in an […]
By Jason Contant | January 25, 2024
3 min read