Saskatchewan brokers, agents, adjusters to provide proof of new minimum E&O limits in November 2010

Saskatchewan insurance agents, brokers and adjusters will be required as of Nov. 1, 2010 to provide their provincial regulator with a copy of new minimum errors and omissions (E&O) limits when filing their annual reporting forms.Effective August 2010, the Insurance Councils of Saskatchewan changed its bylaws, requiring agents, brokers and adjusters to carry new minimum […]

By Canadian Underwriter | September 13, 2010 | Last updated on October 2, 2024
1 min read

Saskatchewan insurance agents, brokers and adjusters will be required as of Nov. 1, 2010 to provide their provincial regulator with a copy of new minimum errors and omissions (E&O) limits when filing their annual reporting forms.Effective August 2010, the Insurance Councils of Saskatchewan changed its bylaws, requiring agents, brokers and adjusters to carry new minimum E&O limits of $1 million in coverage and a minimum aggregate limit of $2 million.The E&O insurance must be underwritten by an insurance company licensed to do business in Canada.

Canadian Underwriter

Why Calgary’s hailstorm could send more Alberta auto insurers to the exits

Claims

Why Calgary’s hailstorm could send more Alberta auto insurers to the exits

Calgary’s record-setting hailstorm in August may send more of the province’s auto insurers heading for the exits, Insurance Bureau of Canada warned Thursday. “The Calgary hailstorm will add $900 million in unexpected claims cost pressures at a time when Alberta’s auto insurance system is in crisis due to the province’s rate cap,” Aaron Sutherland, IBC’s […]

By David Gambrill | September 19, 2024

3 min read

Why insurers won their dispute over a $50-million excess policy

Claims

Why insurers won their dispute over a $50-million excess policy

An insured is not entitled to coverage on a “claims made and reported” excess liability policy when it failed to report the claim to the excess insurer within the policy period, Ontario’s Appeal Court has confirmed. The insured, a law firm, argued it was entitled to professional liability coverage despite “imperfect compliance” with the claim […]

By David Gambrill | September 18, 2024

4 min read

After Calgary’s record-breaking storm, do homeowners have proper hail coverage?

Claims

After Calgary’s record-breaking storm, do homeowners have proper hail coverage?

This summer’s hailstorm that caused over $2.8 billion in damage across the city of Calgary helps raise the question: do homeowners have sufficient coverage for their risk?  “Most home insurance policies cover damage caused by hailstorms, however the extent of the coverage and what the policy covers can vary,” says Steven Harris, licensed insurance broker […]

By Alyssa DiSabatino | September 24, 2024

2 min read