VANCOUVER — A flood watch covered the Skeena region of northwestern British Columbia Tuesday as unseasonably warm temperatures swelled rivers in many areas of the province. B.C.’s River Forecast Centre posted the warning for the Skeena and Bulkley rivers and their tributaries across Wet’suwet’en and Gitxsan territories, as well as from Telkwa to Terrace. The […]
By Alyssa DiSabatino | May 17, 2023
3 min read
SUVs cause more severe injuries — particularly head injuries — than cars when they hit bicyclists, likely because the large vehicles’ tall front ends strike cyclists higher on their bodies, new research has found. “SUVs tend to knock riders down, where they can also be run over, rather than vaulting them onto the hood of the […]
By Jason Contant | May 17, 2023
3 min read
Repairable claims frequency for electric vehicles (EVs) in Canada and the U.S. continues to increase slightly with each passing quarter, albeit very slowly, according to a new report from Mitchell, an Enlyte company. EV repairable claims frequency increased 2.41% in Canada and 1.13% in the U.S. in 2023 Q1 compared to 2022 Q4, up a […]
By Jason Contant | May 16, 2023
3 min read
A new report by the Canadian Climate Institute says private capital is needed to invest in climate adaptation infrastructure as extreme weather events like fires and floods become more acute by the year. The report co-authored by insurance firm The Co-operators Group Ltd. and Climate Resilience Consulting says public funding isn’t enough to meet the […]
By Jason Contant | May 16, 2023
1 min read
Unions and corporations operate differently, and that means a union needs more tailored insurance coverage when an aggrieved member takes legal action, lest they find themselves underinsured, one expert told Canadian Underwriter. Standard policies typically exclude important coverages for unions, such as breach of contract or collective bargaining exclusions, which can leave unions exposed to […]
By Alyssa DiSabatino | May 15, 2023
3 min read
Intact Financial Corporation grew its Canadian personal auto premium volume 5% in 2023 Q1 from one year ago, and continues to see positive growth in the segment, CEO Charles Brindamour said during a 2023 Q1 earnings call last week. “Top-line momentum was function of both rate actions as well as our improving competitive position,” Brindamour […]
By Jason Contant | May 15, 2023
3 min read
A major earthquake in British Columbia or the Ontario-Quebec region could become the costliest natural disasters Canada has seen, a new government of Canada report warns. Of pertinence to the industry, as insured damages for a severe earthquake could broach the existing capacity of Canada’s insurance industry and cause insurer insolvency, even despite most Canadians […]
By Alyssa DiSabatino | May 12, 2023
3 min read
The Alberta Energy Regulator has warned Imperial Oil about more wastewater problems at its Kearl oilsands mine in northern Alberta. The regulator has issued a notice of non-compliance to the company after chemicals associated with oilsands tailings were found at an off-site well at levels that exceed provincial guidelines. “In light of the exceedance of […]
By Jason Contant | May 12, 2023
3 min read
Intact Financial Corporation expects inflation’s effect on personal auto to continue to tame, but the insurer has levers in place if the uncertain economic environment throws another curveball, senior executives said during a 2023 Q1 earnings call. Personal auto premiums for Canada’s largest insurer rose 5% to about $1.17 billion in 2023 Q1 from $1.12 […]
By Jason Contant | May 12, 2023
3 min read
Federal Emergency Preparedness Minister Bill Blair says Canadian Forces personnel are being deployed to help with an “unprecedented” wildfire situation in Alberta. Alberta has declared a state of emergency. There were 82 active wildfires as of Thursday morning, with 23 out of control. Thousands remain out of their homes and additional fire crews from British […]
By Jason Contant | May 11, 2023
2 min read