Industry
Property and casualty insurance carriers and brokers have embraced the Canadian Association of Managing General Agents’ (CAMGA) self-regulatory regime, the association’s managing director tells Canadian Underwriter. Late last year, CAMGA’s board and membership approved and adopted the undertaking as a condition of membership beginning Jan. 1. The voluntary measures and membership requirements include three pillars. […]
By Jason Contant | March 28, 2022
3 min read
The federal government’s easing of COVID-19 travel restrictions will generally make it easier for travellers to get insurance coverage, since some providers weren’t in the position to offer coverage when travel advisors were at a higher level, travel insurers tell Canadian Underwriter. COVID-19 and international travel is now Level 2 (practice enhanced health precautions), down […]
By Jason Contant | March 25, 2022
2 min read
OTTAWA – The Russian invasion of Ukraine is adding to inflationary pressures around the world and in Canada, a senior Bank of Canada official said Friday. In a speech by webcast to a conference at the U.S. Federal Reserve Bank of San Francisco, deputy governor Sharon Kozicki said inflation in the near term is expected […]
Editor’s Note: This story has been updated to include comment from Insurance Bureau of Canada Faulty design features of private-sector auto insurance and excessive government regulation are the main reasons to blame for challenges facing the private-sector auto markets, says David Marshall, who has served as a senior advisor to the Government of Ontario […]
By Jason Contant | March 24, 2022
4 min read
HOPE, B.C. – The Ministry of Transportation and Infrastructure says it is moving ahead with permanent repairs to a key B.C. highway damaged by catastrophic flooding last November. A statement from the ministry says it has begun the process to select contractors to design and complete the repairs at three of the seven damaged bridges […]
Nova Scotia Utility and Review Board (NSURB) has approved Facility Association’s (FA) overall rate increase of 11.1% as well as a proposed revision of its risk classification system for taxis. In doing so, the board had some words of advice for Facility Association about how to examine loss trends for the province’s new direct compensation […]
By Jason Contant | March 23, 2022
The Calgary Flames have filed a $125-million lawsuit against its insurers to enforce the terms of an all risks insurance policy for “massive losses” due to the COVID-19 pandemic. The named defendants in the statement of claim filed in the Calgary Court of Queen’s Bench are Westport Insurance, Royal and Sun Alliance Insurance Company […]
By Alyssa DiSabatino | March 23, 2022
EDMONTON – The Alberta government is getting mostly check marks from the province’s auditor general over how it handled the billion dollars it got from Ottawa to clean up abandoned oil and gas wells and get service contractors back to work. Doug Wylie said in a report tabled Tuesday that the Site Rehabilitation program was […]
MGAs and insurers continue to report increased severity and frequency of cyber claims. In fact, in-house data shows cyber claims have been increasing for years, said Lindsey Nelson, cyber development leader at CFC Underwriting. Simultaneously, the take-up of cyber insurance is also seeing an increase. But given the overall unprofitability of the line, how are […]
By Phil | March 22, 2022
Saskatchewan Government Insurance (SGI) saved approximately $6 million in 2021 from “hundreds of people” attempting to make fraudulent claims, the public insurer reported last week. “SGI’s Special Investigations Unit (SIU) investigates wild and wacky insurance claims, many of which turn out not to be true,” the government insurer said in a press release. SGI’s Top […]
By Jason Contant | March 22, 2022
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