Claims
Municipalities respond to series of tornadoes with new rules governing building construction.
October 5, 2021
3 min read
The industry made a record profit in homeowners’ insurance and overall premiums are up, but 20 Canadian insurers are losing money while dozens recently lost market share, an economist with Property and Casualty Insurance Compensation Corporation observes. “The healthy insurance market has allowed insurers to focus on expanding their businesses,” wrote Grant Kelly, PACICC’s vice […]
By Greg Meckbach | September 30, 2021
2 min read
Liability insurer Northbridge does not have to cover a Prince George, British Columbia daycare owner accused of shaking a child severely enough to cause brain injury, a judge ruled last week. A lawsuit, against the person operating the daycare, was filed in 2019. Allegations in the underlying lawsuit have not been proven in court. In […]
By Greg Meckbach | September 29, 2021
4 min read
The Insurance Bureau of Canada’s Investigative Services division is being transferred to a new organization, Équité Association, effective Oct. 1. That transfer has been approved by IBC’s board, IBC announced Monday. Équité Association integrates IBC’s investigative services division with the Canadian National Insurance Crime Services (CANATICS). Équité Association provides include fraud detection, investigative solutions and […]
By Greg Meckbach | September 28, 2021
An interior British Columbia wildfire this past August, which forced the evacuation of more than 1,000 properties, will cost the industry an estimated $77 million, the Insurance Bureau of Canada said Thursday. The White Rock Lake fire began on Aug. 2, grew to more than 833 square kilometres and forced the evacuation of 1,316 properties […]
By Greg Meckbach | September 24, 2021
A recent Court of Appeal for Ontario ruling, in favour of commercial property insurer FM Global, could be good news for insurers facing pandemic business interruption claims but the decision may also be reviewed by the Supreme Court of Canada, suggest a lawyer involved in the case. In MDS Inc. v. Factory Mutual Insurance Company, released […]
By Greg Meckbach | September 23, 2021
Canada’s new government needs to focus on climate adaptation, says the industry’s association of property and casualty insurers. “After an unprecedented year of heat and wildfires across much of Canada, climate adaptation must receive more attention in the coming months than it did during the election period,” the Insurance Bureau of Canada said Tuesday in […]
By Greg Meckbach | September 22, 2021
The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020, to $15.5 billion during the first six months of 2021, MSA Research said in a […]
By Greg Meckbach | September 21, 2021
BEAUCEVILLE, Que. – Quebec provincial police say eight people were injured in an early morning fire at a lumber-drying facility southeast of Quebec City. Provincial police say they received 911 calls around 7:30 a.m. for a fire at the company in Beauceville, Que., about 90 kilometres from the provincial capital. Authorities did not have an […]
By Jason Contant | September 20, 2021
1 min read
Canadian auto insurers saw both an increase in auto premiums and an improvement in their loss ratios in 2020, according to research from A.M. Best Company Inc. “Less miles driven translates into less frequency in auto losses,” A.M. Best director Raymond Thomson said Thursday during his firm’s Canada Insurance Market Briefing. During a panel discussion, […]
By Greg Meckbach | September 17, 2021
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