Industry
Merger and acquisition activity in the Canadian P&C insurance industry is showing no sign of slowing down in the second half of 2022, with the announcement of four transactions by three brokerages already since the beginning of June. McDougall Insurance & Financial, BrokerLink and StoneRidge Insurance Brokers (SIB) all announced M&A deals earlier this month. […]
By Jason Contant | June 8, 2022
3 min read
VICTORIA – British Columbia is better prepared to withstand a hot weather emergency like that which caused more than 600 deaths last summer, but more must be done to protect people and communities, says the chief medical officer at the BC Coroners Service. A death-panel report released Tuesday provides a road map for the province […]
It’s only natural claims adjusting service levels will drop, given the large number of claims arising from the derecho that struck parts of Ontario and Quebec in May, says the president of the Canadian Independent Adjusters’ Association (CIAA). “Things like this derecho unfortunately create such a significant number of claims that service levels will fall […]
By Jason Contant | June 7, 2022
4 min read
VANCOUVER – Emergency officials say as many as 20 buildings are flooded in three northwestern British Columbia communities. But a break in the weather has slowed rising waterways across the region. The Regional District of Kitimat-Stikine ordered the evacuation of the Terrace-area communities of Old Remo, New Remo and Usk on Sunday. It also declared […]
1 min read
Nova Scotia has approved Facility Association’s approach to rating commercial auto in a way that trucking operators cannot “game the system” and get Nova Scotia’s lower premium rates when they drive more extensively in other Canadian provinces. Essentially, a “surcharge matrix” will be used to rate trucking companies that drive more than 50% outside of […]
By David Gambrill | June 6, 2022
The president of the Canadian Independent Adjusters’ Association (CIAA) is hoping other provinces take note of how Ontario’s insurance regulator has approached adjuster capacity and licensing issues following the May 21 derecho that struck Ontario and Quebec. On May 31, the Financial Services Regulatory Authority of Ontario (FSRA) implemented temporary measures to help insurers process […]
By Jason Contant | June 6, 2022
Ontario courts will declare older non-competition clauses unenforceable if they are unreasonable between the parties due to ambiguity or because the scope of prohibited activities is overly broad, two lawyers write in an analysis of Court of Appeal for Ontario decision. In December 2021, the province’s Working for Workers Act came into force, prohibiting employers […]
By Jason Contant | June 3, 2022
TORONTO – DesRosiers Automotive Consultants (DAC) says Canadian auto sales were down 8.5 per cent in May compared with a year earlier as supply challenges persist. The consultancy estimates 140,725 new light vehicles were sold in the month, in line with sales for the previous two months. May has historically been the top sales month […]
Emily Horsman has joined NFP Corp., a large national brokerage, as head of Canadian national broking.
By Jason Contant | June 2, 2022
2 min read
OTTAWA – In an unprecedented move, the Bank of Canada has announced a major increase to its key interest rate for the second time in two months as it forecasts higher consumer prices to come this year. The central bank increased its policy rate by half a percentage point to 1.5 per cent Wednesday and […]
By Jason Contant | June 1, 2022
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