Industry

A ‘city killer’ asteroid nearly hit Earth. Does insurance cover damage?

If a piece of an asteroid – like the ‘city killer’ that narrowly missed striking the Earth last week – comes flying at your client’s house, they’re likely covered by their homeowner’s policy. That’s because a standard homeowner’s policy includes specified perils of a “falling object which strikes the exterior of a ‘dwelling’ or detached […]

By Jason Contant | July 30, 2019

2 min read

Industry

Two dead after tow plane and glider collide in southern Alberta

BLACK DIAMOND, Alta. – Emergency medical officials say two people are dead after a glider crashed southwest of Calgary. EMS responded to reports of the crash near the Cu Nim Gliding Club, east of Black Diamond, Alta., shortly before 4 p.m. Friday. Two people who were in the glider were pronounced dead at the scene. […]

By Greg Meckbach | July 30, 2019

1 min read

Industry

This brokerage’s new guy works 24-7

Lead generation was one reason Archway Insurance set up a chatbot to answer basic questions for Internet users. “Welcome to Archway. What brought you here today?” is how Archie, the firm’s artificial intelligence-driven chatbot, greets Internet users when they browse Archway’s website. “It is a new technology that we are still evaluating,” said Gina McFetridge, […]

By Greg Meckbach | July 29, 2019

2 min read

Industry

Fire near Osoyoos, B.C., grows but shows ‘low’ activity says wildfire

OSOYOOS, B.C.- Wildfire crews in British Columbia hope to get the upper hand on a stubborn blaze that broke out last week in the southern Okanagan and has scorched just over four-square kilometres of timber and bush. The BC Wildfire Service says the smouldering ground fire is showing a low level of activity and additional […]

By Greg Meckbach | July 29, 2019

1 min read

Why data breaches are particularly costly for Canadian financial firms

The average cost of a data breach in the Canadian “financial” industry is US$6.4 million – $2-million higher than the average cost for all other businesses, according to a new report from IBM Security and Ponemon Institute. The average cost of a breach for all Canadian businesses, US$4.4 million, is about $500,000 higher than the […]

2 min read

Guess which brokers are in the running for Entrepreneur of the Year

The leaders of one of Atlantic Canada’s largest brokerages are finalists in EY Canada’s Entrepreneur Of The Year award program. Gina McFetridge and Michael Stack, president and CEO respectively of Archway Insurance, are among the finalists announced July 18 by Ernst & Young. McFetridge is a past president and chairperson of the Insurance Brokers Association […]

3 min read

IBC aids in $2.2-million stolen vehicle investigation

Insurance Bureau of Canada (IBC) will assist in identifying stolen high-end vehicles that police believe were being prepped to be shipped overseas in containers to China and European countries. Each year, auto theft causes Canadians close to $1 billion, IBC reports, including $542 million for insurers to fix or replace stolen vehicles, $250 million in […]

2 min read

How insurers treat monitored home alarm systems

Having a video camera installed with your home alarm system is one way for your client to reduce burglary risk, but it’s questionable whether this is an underwriting factor considered by the insurance company. “To my knowledge, the majority of property insurance policy applications do ask if there is a monitored alarm system,” said Pete […]

2 min read

Home insurance can cover damage by a contractor during restoration, court finds

If your client’s house is accidentally damaged by a repair or renovation contractor while it is working on that building, does the home insurance cover it? Some carriers would say no, but a recent court ruling means exclusions for “property while being worked on” and “faulty workmanship” are not quite as broad as some underwriters […]

3 min read

How hitting a skateboarder with a dealership’s courtesy car led to a priority dispute

A vehicle owner asks someone who is not on his insurance policy to take his car to the dealership for a repair. When that driver subsequently gets into an accident with the dealership’s courtesy car, is the car owner’s insurance company on the hook for the liability lawsuit? No, a Calgary court recently found. On […]

3 min read