Industry

How a regulator made it easier for P&C industry to social-distance

British Columbia’s broker regulator has temporarily its loosened rules governing the workplace location of Level 1 salespeople, allowing them to work from home during the COVID-19 pandemic. The temporary rule change took effect Thursday. “The Insurance Council of BC shares the concerns of insurance agencies about the impact of agency closures and self-isolation measures on […]

By Greg Meckbach | March 19, 2020

2 min read

Commercial brokers remind industry about emergency ‘hold covered’ protocols

As Canadian businesses and individual policyholders adjust to a new era of social distancing and service restrictions or shutdowns, brokers and insurance companies have turned their minds towards extending policy renewal deadline dates in the event of a declared emergency. “Everyone agrees, this pandemic is presenting both a health crisis as well as an impending […]

By David Gambrill | March 19, 2020

2 min read

Why Canada’s P&C industry is ready to absorb hit of pandemic-induced recession

Already under financial strain due to tightening markets in several lines of business, Canada’s property and casualty insurance industry nevertheless seems well-positioned to withstand a global recession triggered by the novel coronavirus pandemic — at least in the short term. The global coronavirus pandemic has thus far sickened 179,111 and killed 7,426 globally, according to […]

By David Gambrill | March 18, 2020

4 min read

Where the Co-operators is raising home insurance premiums

The Co-operators General Insurance Company reported a double-digit increase in homeowners’ premium growth in 2019, which the Guelph, Ont. insurer attributes to higher average premiums in Ontario and Western Canada. In its annual report released Wednesday, The Co-operators reported net premiums earned in home insurance of $902.7 million in 2019, up 11.5% from $811.2 million […]

By Greg Meckbach | March 17, 2020

2 min read