DAUPHIN, MAN. – Flags were at half-mast as residents of a western Manitoba city awaited word on the fate of loved ones, while police started to piece together what caused a crash between a semi-trailer and a bus carrying seniors on a day trip to a casino, killing at least 15. “There’s a lot of […]
By Jason Contant | June 16, 2023
3 min read
Although inflation cooled to 4.4% in April from its high of 8.1% in June 2022, it’s still affecting small business owners and insurers, an executive at Hartford Steam Boiler told Canadian Underwriter. From a carrier perspective, claims costs are increasing in the property market, largely due to the increased cost of construction and building supplies, […]
By Jason Contant | June 16, 2023
2 min read
It’s the end of the line for Travelers’ appeal of an accident benefits case involving a dirt bike driven in a closed course competition. The Supreme Court of Canada rejected the insurer’s leave to appeal Thursday. This means a dirt bike driven in a closed course motocross competition is an “automobile” under Ontario’s auto accident […]
By David Gambrill | June 15, 2023
3 min read
New market entrants over the past year have helped ease price increases for two key property and casualty (P&C) insurance coverage segments in the U.S., according to a pair of recent reports from Fitch Ratings. Changes in the competitive landscape have impacted pricing for both Directors and Officers (D&O) and cyber coverage. While Canada has […]
By Phil | June 15, 2023
3 min read
Carriers in the small business space are increasingly turning to technology to understand exposure changes and help insureds manage their own risk, an expert said recently. By relying on things like sensor technology, carriers can get real-time information on changes in exposure, which they can pass back to the insured to help them manage their […]
By Jason Contant | June 15, 2023
3 min read
HALIFAX – Nova Scotia Cybersecurity Minister Colton LeBlanc says his department has identified thousands more people affected by a recent global data breach, and this week it is beginning the process of notifying the “most vulnerable” victims of the hack. But LeBlanc told a news conference Wednesday it’s hard to give a precise estimate of […]
By Jason Contant | June 15, 2023
3 min read
MONTREAL – Quebec officials say the rainfall over the past 24 hours in the northern part of the province was inadequate to douse the wildfires. The province’s forest fire prevention agency – SOPFEU – says a wildfire near Lebel-sur-Quevillon, Que., continues to threaten the community located 620 kilometres northwest of Montreal. Less than one millimetre […]
By Jason Contant | June 14, 2023
1 min read
Pride Toronto’s executive director says the organization has seen a 300% increase in its insurance premiums ahead of this month’s parade and festival programming. This trend of higher premiums for public events is not unique to Pride Toronto; organizers of large events in Canada are seeing rate increases across the board. That’s because the small market […]
By Alyssa DiSabatino | June 13, 2023
3 min read
Canada is experiencing its worst wildfire season of the 21st century. Emergency Preparedness Minister Bill Blair announced the grim milestone Monday, saying more than 47,000 square kilometres have burned so far this year, with 431 wildfires currently burning across Canada. One of those continues to threaten the Alberta community of Edson, where 8,400 residents remain […]
By Jason Contant | June 13, 2023
1 min read
Firefighters and other first responders have been stretched thin while battling an unprecedented wildfire season in Canada, and such may be the case for claims adjuster capacity as well. Across the industry, it’s a mixed bag of how quickly adjusters across Canada have been able to respond to the fires, which is expected to be […]
By Alyssa DiSabatino | June 12, 2023
2 min read