Municipalities should consider green investment bonds as an alternative way to fix their infrastructure, says a new commentary by Morningstar DBRS. Nine of the 10-highest insured severe weather loss years in Canada have occurred over the past 15 years, Morningstar DBRS says, highlighting the need for municipalities to adapt for climate resilience. Given the […]
By Alyssa DiSabatino | August 27, 2024
3 min read
Market share growth in the digital age isn’t what it used to be, according to business management and marketing researchers in Europe. “Market share regularly ranks amongst the most important KPIs [key performance indicators] for C-suite executives,” write Julian R.K. Wichmann, Alexander Edeling, Alexander Himme, and Felix Sklenarz in a blog piece published by Harvard […]
By David Gambrill | August 27, 2024
3 min read
Canadian Underwriter research on succession planning shows brokerage owners want to pass their businesses to family members, but today’s environment presents two key challenges — a potential lack of family members available to take over, and possibly fewer wanting to get into the brokerage business. “We hear quite a lot of times that it’s not […]
By Phil | August 26, 2024
3 min read
For Canada’s P&C insurance industry, IFRS 17 is ushering in an era in which people must understand how to speak multiple languages. But for an industry that used to know what COR meant, the old order has turned upside-down, says Alister Campbell, president and CEO of the Property and Casualty Insurance Compensation Corporation. “The logical […]
By Phil | August 22, 2024
3 min read
Drivers of Canada’s Top 10 stolen cars are shelling out about 37% more than the average price for comprehensive insurance coverage, according to recent data from RatesDotCa’s quoter. In Ontario, average annual auto insurance premiums were $1,796 as of October 2023, up 7% year-over-year, according to data from the Financial Services Regulatory Authority (FSRA). The […]
By Alyssa DiSabatino | August 22, 2024
3 min read
OTTAWA – Canada’s annual inflation rate fell to 2.5 per cent last month, matching forecasters’ expectations as price pressures continue to retreat. Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the headline figure lower. Meanwhile, shelter costs are still the main driver of inflation as Canadians face […]
By Jason Contant | August 20, 2024
2 min read
Lockdowns in the wake of COVID-19 spurred changes in how insurers view large public events. The virus’ spread put the events insurance segment on ice for a couple of years. But 2023 saw an explosion of activity, notes Benjamin Rossington, entertainment and sports account manager at Hub International. But along with a renewal of events […]
By Phil | August 16, 2024
3 min read
A repeat of Canada’s unprecedented wildfire season last year will become over six times more likely by 2100, an inaugural State of Wildfires 2023-24 report shows. At least, that’s the trajectory if no action is taken to tackle greenhouse gas emissions, according to the research, published in the Earth System Science Data journal. That would […]
By Alyssa DiSabatino | August 14, 2024
3 min read
Within today’s competitive and challenging economic landscape, Error and Omissions (E&O) insurance has emerged as a crucial safeguard for professionals across various industries. This specialized insurance coverage, also known as Professional Liability insurance, protects owners and employees against legal liability for claims of negligence or failure to perform their assigned duties adequately. The professional services […]
August 14, 2024
2 min read
JASPER, Alta. — Residents of Jasper, Alta., who lost their homes in last month’s wildfire face unique rebuilding challenges tied to leasing provisions nearly as old as Canada, as well as modern rules dictating what they can and can’t construct. Lawyer Jessica Reed said property owners in the townsite in Jasper National Park, unlike in […]
By David Gambrill | August 9, 2024
4 min read