Changes to accident benefits regulations will result in projected net savings of $1 billion annually, British Columbia’s Ministry of Attorney General said Friday. Changes to Insurance Corporation of British Columbia’s (ICBC) accident benefits will cost an estimated $200 million annually. But this will be offset by an estimated savings of $1.2 billion per year through […]
By Jason Contant | November 13, 2018
3 min read
The government of Quebec should take a “wait-and-see” approach to define what is a reasonable or unreasonable deductible for condominium insurance, the Insurance Bureau of Canada (IBC) told Canadian Underwriter last week. The provincial finance ministry recently held a consultation prior to proposed regulations on condo insurance. Aspects of Bill 141, which changes regulations related […]
By Jason Contant | November 12, 2018
3 min read
For the second year in a row, risks from cyberattacks is the top concern that executives in Canada have identified as the most dangerous for their business, according to a report published Monday by the World Economic Forum (WEF). In the number three spot is extreme weather events, up from fifth place last year. The […]
By Jason Contant | November 12, 2018
2 min read
TORONTO – Canada Post publicly admitted to a privacy breach involving thousands of Ontario’s online cannabis customers on Wednesday after the province’s only outlet for legal recreational marijuana notified clients of the problem. The postal service said in a statement that someone had used its delivery tracking tool to gain access to personal information of […]
By Jason Contant | November 7, 2018
3 min read
Regulators are watching captives carefully. How to avoid getting caught in the grasp of a tax audit
November 7, 2018
3 min read
This story is one in a series reporting on the results of 2018 National Broker Survey, conducted by Canadian Underwriter. The survey of more than 800 P&C brokers nationally was designed to identify the success strategies of both producers and principals. Find other instalments in the series here and our overview package in our October 2018 issue. Performance-based compensation Could […]
By David Gambrill | November 6, 2018
5 min read
If you have clients living in Brampton or near the intersection of Jane St. and Finch Ave., they will probably continue paying more for auto insurance than if they lived elsewhere in the Greater Toronto Area. A bill proposing to make the GTA one single territory – for the purpose of determining motorists’ insurance premiums […]
By Greg Meckbach | November 5, 2018
3 min read
CALGARY – The Alberta Energy Regulator is apologizing for estimating it would cost $260 billion to clean up after the provincial oil and gas industry. The sector’s accumulated environmental liability is currently estimated at $58.65 billion, less than one quarter of the presented number, it said in a statement Thursday. “The numbers are staggering – […]
By Jason Contant | November 5, 2018
2 min read
Pollution claims can be spectacularly damaging when they happen, and they are often excluded from CGL commercial insurance policies. So why aren’t more contractors buying environmental insurance, and how can brokers reverse the trend?
November 3, 2018
6 min read
Putting speed bumps on private laneways might help commercial clients manage traffic risk, but they need to paint those bumps properly to reduce liability risk. Madison Properties Inc. owns a shopping plaza in Toronto. Maria Pia Cannito tripped and fell on the plaza property during the summer of 2012 after visiting her bank, Judge Paul […]
By Greg Meckbach | November 2, 2018
3 min read