One out of every five Canadian businesses surveyed said they don’t know enough about cyber insurance, suggesting an open window for brokers and insurers to provide educational support, a new cyber survey from Travelers Canada suggests. “I think what the survey shows, from a broker standpoint, is that clients are really looking for that education […]
By David Gambrill | November 9, 2023
3 min read
CHAPAIS, Que. – One of Quebec’s youngest mayors announced Wednesday she will be stepping down next week, suffering the effects of burnout from handling last summer’s historic wildfire season in her northern community. Isabelle Lessard was acclaimed in 2021 as mayor of Chapais, Que., a town of just over 1,500 people, located 400 kilometres northwest […]
By Jason Contant | November 9, 2023
3 min read
Intact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and commercial lines in 2023 Q3, and predicts this growth will continue over the next 12 months, which should see continuing hard market conditions. […]
By Alyssa DiSabatino | November 9, 2023
3 min read
The massive amount of water and firefighting resources required to put out hay barn fires is just one reason why these blazes are so stubborn, an industry professional said at the Farm Fire Summit last week. A multi-million-dollar hay barn fire on a farm northwest of Exeter, Ont. in July took two-and-a-half million gallons of […]
By Jason Contant | November 9, 2023
3 min read
Property and casualty (P&C) brokerages continue to report trouble finding qualified new recruits. That’s led many in the P&C insurance industry to suggest firms widen the hiring lens and open recruitment to a more diverse range of candidates. It seems like a simple solution, but a high percentage of respondents to a brokerage industry survey […]
By Phil | November 8, 2023
2 min read
Canada’s P&C insurance industry is urging drivers to lower their own risk while it contends with high auto theft losses across the country. The problem is, 40% of drivers don’t know if they’re driving a high-risk vehicle, according to a recent LowestRates survey. This leaves brokers with the opportunity to tell their clients their […]
By Alyssa DiSabatino | November 7, 2023
2 min read
A Guaranteed Replacement Cost (GRC) home insurance policy does not provide coverage for increased regulatory compliance costs required for the rebuild, the Court of Appeal for Ontario has ruled, thus reversing a lower court decision last October that found otherwise. “The [home insurance policyholders] may…recover the costs of rebuilding their home, without any deduction for […]
By David Gambrill | November 7, 2023
3 min read
Escalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims losses of more than $30 million) in 2022, Coulson pointed out to Canadian Underwriter. “This […]
By Phil | November 6, 2023
3 min read
The Canadian Independent Adjusters’ Association (CIAA) has announced Maria Joshua as its new president. Joshua is vice president, quality assurance and training with Sedgwick Canada. She has more than 10 years’ experience at Sedgwick and more than 35 years’ experience in the industry. Prior to her new appointment, she was president of CIAA’s Ontario […]
By Alyssa DiSabatino | November 3, 2023
2 min read
Ontario’s provincial government is urging a federal and multi-jurisdictional approach to combat auto theft in Canada. In its 2023 Fall Economic Statement released Thursday, the government called for the Canada Border Services Agency, RCMP, Montreal and Halifax port authorities, as well as shipping container and rail companies, to support efforts that combat auto theft. “Additionally, […]
By Jason Contant | November 3, 2023
3 min read