YELLOWKNIFE – Fire activity along a key Northwest Territories highway is expected to kick up in the coming days, while Mounties say they’ll stop a potentially large group from trying to re-enter when an evacuation order is still in effect. The territorial government says Highway 1, which links up with Alberta, is open to essential […]
By Jason Contant | September 1, 2023
4 min read
In the wake of IFRS 17 accounting changes, Canada’s solvency regulator is requiring federally regulated P&C insurance companies to be more proactive in reporting any changes related to their appointed actuaries (AAs) and their peer reviewers. The regulator has also clarified its expectations around acceptable AA peer reviewers and the peer review process. In all, […]
By David Gambrill | August 31, 2023
2 min read
Ransomware is “almost certainly the most disruptive form of cybercrime facing Canada” because it’s pervasive and can have a serious impact on an organization’s ability to function, said a new report from the Canadian Centre for Cyber Security. However, it’s more likely cybercriminals will target your clients’ industry sectors than the insurance industry in general, […]
By Jason Contant | August 31, 2023
3 min read
Several major wildfires continue to burn out-of-control in British Columbia’s Interior, where forecasted rain had been hoped to dampen blazes in parts of the Central Okanagan and the Shuswap. But Environment Canada data shows neither Kelowna’s airport nor Salmon Arm recorded measurable precipitation Tuesday, after initial predictions called for possible rain and thunderstorms in the […]
By Jason Contant | August 31, 2023
2 min read
After close to 200 buildings burnt around Lake Okanagan, claims adjusters in Kelowna can expect to see claims range from personal and commercial across a swath of coverage types, an adjuster tells Canadian Underwriter. “Kelowna has a diverse geography with its surrounding mountain slopes, and dense landscape. Because of the large volume of affected properties, […]
By Alyssa DiSabatino | August 30, 2023
3 min read
YELLOWKNIFE – A state of emergency in the Northwest Territories has been extended until Sept. 11. The territorial government declared it on Aug. 15 as wildfires threatened several communities, including the capital, Yellowknife. The move was meant to allow the government to marshal the resources it needed to protect the health and safety of residents […]
By Jason Contant | August 30, 2023
1 min read
Premiums for commonly stolen vehicles have increased between 25% and 50% over the last two years, according to data from RatesDotCa. Insurers are bumping up rates after the Canadian P&C insurance industry paid out a record $1 billion for auto theft claims in 2022. So far, auto theft claims during the first three months of […]
By Alyssa DiSabatino | August 29, 2023
2 min read
Manitoba brokers are reporting no issues thus far servicing their auto insurance clients, as the Manitoba Public Insurance (MPI) workers’ job action enters its second day. “We at IBAM [Insurance Brokers Association of Manitoba] hope for a speedy resolution that’s fair to all stakeholders,” IBAM CEO Grant Wainikka told Canadian Underwriter Monday, the first day […]
By David Gambrill | August 29, 2023
3 min read
As Hurricane Franklin starts turning North, Atlantic Canada is watching and waiting to see whether it makes a direct hit, or if the storm will weaken before reaching Canada’s coast, as current maps suggest. Franklin is expected to cross the northwest corner of Bermuda tomorrow, according to the U.S. National Hurricane Center (NHC). It warned […]
By Phil | August 29, 2023
3 min read
An applicant who was able to prove on a balance of probabilities that she should be removed from the minor injury guideline (MIG) because of a psychological impairment is entitled to additional accident benefits, Ontario Licence Appeal Tribunal adjudicator Nick Iannazzo wrote in an Aug. 25 decision (Murray v. Economical Insurance Company, 2023). Applicant Tianna Murray was involved […]
By Phil | August 28, 2023
3 min read