Industry
Westland Insurance Group Ltd. has closed two new acquisitions in Saskatchewan, both in locations where the large brokerage didn’t have a presence before. The brokerage announced Monday it had closed the acquisitions of HK Insurance in Regina and Smith Agencies in Melfort, effective June 1. “Regina and Melfort are both new entries for Westland Insurance […]
By Jason Contant | June 9, 2021
2 min read
Home insurance rates in Alberta today have jumped nearly two-and-a-half times more than what they were 10 years ago, according to an analysis from a rate aggregator. Average home insurance premiums in Alberta have gone from $741 to $1,779 since 2011, an increase of 140%, Ratesdotca reported recently. That includes a markedly sharp increase this […]
By Adam Malik | June 9, 2021
3 min read
VANCOUVER – Rainfall in the next three weeks is crucial if British Columbia hopes to avoid a devastating wildfire season, but the latest outlook from the BC Wildfire Service offers little optimism. The service says rainfall and temperatures were near normal across the northern half of the province in May, but the same period was […]
By Jason Contant | June 8, 2021
Caution and single-steps forward are not what brokers need from their insurance carrier partners as the industry accelerates into the digital age. The importance of digital distribution following the COVID-19 pandemic is undeniable. As a result, insurers need to keep pace. Over the past year, consumers have embraced digital channels for everything from telemedicine to […]
By Adam Malik | June 7, 2021
4 min read
VICTORIA – The Insurance Corporation of British Columbia has created a new position aimed at ensuring the Crown-run auto insurer makes fair and transparent decisions related to its newly launched enhanced care plan. A statement from the Ministry of Public Safety and Solicitor General says regulations setting out the role of the fairness officer were […]
By Jason Contant | June 7, 2021
1 min read
Mired in a hard market, brokers need to give twice the typical amount of lead time these days when contacting underwriters to secure directors and officers (D&O) coverage for clients, according to a broker expert. The D&O market will remain hard because it has a long road to recovery, observed Raj Aujla, Calgary-based managing partner, […]
Hub International has made its second brokerage acquisition in two days with the purchase of a family-owned firm in Nova Scotia. Hub announced on Friday that it had acquired Sackville, N.S.-based Salvatore Insurance Brokers Ltd., which provides commercial insurance to clients in Atlantic Canada. The brokerage offers trucking and contractors insurance along with other types […]
By Jason Contant | June 4, 2021
Supply shortages and the skyrocketing price of lumber have combined with project delays and the continued effects of the pandemic to raise property reconstruction costs in Canada, according to the latest reconstruction cost update from Opta Information Intelligence. Opta’s recent analysis for the second quarter of 2021 reveals that property reconstruction costs increased by 6.4% […]
Clients are still indeed paying ransomware demands, despite a report to the contrary, because the threat of having sensitive data exposed is very much a concern, according to a pair of cyber insurance experts. Their comments come following a report earlier this year that claimed a sharp drop in the number of victims deciding to […]
By Adam Malik | June 4, 2021
If your employees are working remotely because of the pandemic, pick up the phone and ask those workers what’s keeping them up at night, suggests the new CEO of the Canadian Universities Reciprocal Insurance Exchange (CURIE). It is important for leaders, of both insurance carriers and brokerages, to continue to engage with employees when there […]
By Greg Meckbach | June 4, 2021
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