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Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by about 30% in Alberta, 17% in Atlantic Canada and 4% in Ontario over the course […]
By Jason Contant | March 6, 2021
3 min read
The head of a claims restoration company says it’s reasonable to believe that productivity in his company and the industry as a whole has dropped by nearly 20% due to the global COVID-19 pandemic. That would be on par with recent empirical studies that said construction projects in both the United States and United Kingdom […]
By Adam Malik | March 6, 2021
Having reported improved financial results for Aviva Canada in 2020, Aviva Canada’s CEO Jason Storah has his sights set on what the future may hold for 2021 — and frankly, all bets are off. “It’s such a volatile environment, one of the things that I’ve decided to do a long time ago is to stop […]
By David Gambrill | March 6, 2021
4 min read
VICTORIA – The B.C. government has eased the eligibility requirements and extended the deadline for small and medium-sized businesses applying for funds under its $345-million pandemic recovery grant program. Businesses with up to 149 employees must now show a 30 per cent drop in revenue in any one month between March 2020 and the time […]
By Jason Contant | March 5, 2021
OTTAWA — Health Canada says it won’t require new clinical trial data from vaccine makers on booster shots being developed to target new variants of COVID-19. Instead, the regulator will rely more heavily on lab tests on blood samples, which can show how many antibodies develop following vaccination. Those antibodies are a good indicator of […]
By Adam Malik | March 4, 2021
Leaders in the Canadian property and casualty insurance industry should resist the following two urges: 1) making a hasty decision to return to work; and 2) mimicking high-profile companies that quickly announce plans to embrace remote work permanently. These are two key takeaways in the recent Harvard Business Review blog, A CEO’s Guide to Planning […]
By Jason Contant | March 4, 2021
New research shows the influx of video calls brought about by the COVID-19 pandemic is tiring people out. “Zoom” has become a verb to describe videoconference meetings, said professor Jeremy Bailenson, founding director of the Stanford Virtual Human Interaction Lab. Brokers unable to meet with clients in person have turned to “zooming” with them instead. […]
Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says a leading Canadian authority on natural disaster research. “One [area of key messaging] that I […]
By David Gambrill | March 3, 2021
The COVID-19 pandemic forced one insurance association to change how they typically map out their future. The result ended up being a product they believe is better than something that would have been produced in normal times. For many, planning strategy may involve a day or two retreat to hammer out the issues. But a […]
By Adam Malik | March 3, 2021
Canadian brokerage acquisitions continue coast-to-coast with the recent purchases of four brokerages in British Columbia, Saskatchewan, Manitoba and New Brunswick. Navacord, B.C.-based brokerage Waypoint Insurance, Archway Insurance and Westland Insurance Group (which bought two brokerages) all made acquisition announcements at the end of February or the beginning of March. On Monday, Waypoint Insurance said that […]
By Jason Contant | March 3, 2021
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