Coverage for high-value real estate, defined as sites worth $500 million or more, is often based as much on how those sites are used as on the physical assets themselves. Multi-use sites, where activities like manufacturing, distribution, logistics and management all happen at the same location, “pose some complexities from a valuation standpoint,” said Graeme […]
By Phil | October 2, 2023
3 min read
Tenant insurance premiums in Ontario rose nearly 9% year-over-year, according to a recent blog from rate aggregator LowestRates.ca. Even though tenant insurance is one of the most cost-friendly coverages available, many renters take out the minimum coverage of $30,000 for personal belongings, calculations from LowestRates.ca showed. The replacement cost portion of most tenant insurance policies […]
By Jason Contant | September 29, 2023
2 min read
WEST KELOWNA, B.C. – Central Okanagan Emergency Operations has lifted the state of local emergency in West Kelowna, B.C., more than a month after the McDougall Creek wildfire devastated the area. It says it has also rescinded all remaining evacuation orders stemming from the blaze. West Kelowna was put under the state of emergency on […]
By Jason Contant | September 29, 2023
1 min read
Need some help with your brokerage’s efforts to develop a more diverse, equitable and inclusive workplace? Consider partnering with another organization to create recruiting or other interim partnerships, suggested Craig Pinnock, chief financial officer of Northbridge Financial Corporation. “These are the things that don’t require a ton of money. [They] are relatively easy to do as […]
By Phil | September 28, 2023
4 min read
OTTAWA – The federal government is coping with apparent cyberattacks this week, as a hacker group in India claims it has sowed chaos in Ottawa. The Canadian Armed Forces says that its website became unavailable to mobile users midday Wednesday, but was fixed within a few hours. The military says the site is separate from […]
By Jason Contant | September 28, 2023
1 min read
VANCOUVER – The British Columbia Wildfire Service says the fire danger rating across most of the province has dropped to low or very low as cool, damp fall weather arrives. The wildfire service says there have been no new fires in the last 24 hours, and of the 384 active fires burning in B.C., roughly […]
By Jason Contant | September 27, 2023
1 min read
Ontario’s Licence Appeal Tribunal (LAT) erred in law when ruling it had to rely solely on the Statutory Accident Benefits Schedule (SABS) and had no jurisdiction to award equitable remedies under the Insurance Act, a provincial court has found. In October 2017, driver Bukola Akinyimide was involved in a car accident and claimed income replacement […]
By Jason Contant | September 27, 2023
4 min read
Litigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20% (or $200 for each policy annually) of premiums drivers pay for mandatory coverage, said the […]
By Jason Contant | September 26, 2023
3 min read
Humans are still the weakest link when it comes to cyber security, but preventing simple slip-ups means creating a workplace culture where employees are comfortable raising their security concerns, one expert shared. Human error is consistently a major driver in cyber losses, accounting for 88% of all data breaches, according to Stanford Research. A study […]
By Alyssa DiSabatino | September 26, 2023
3 min read
TORONTO – Homeowners in Atlantic Canada completed the highest number of emergency repairs due to weather-related events in the past year, according to HomeStars’ latest renovation report. One-third of homeowners across Canada who renovated or repaired their properties in the past year made weather-related repairs, while 41 per cent of those in Atlantic Canada specifically […]
By Jason Contant | September 26, 2023
1 min read