Industry
VANCOUVER – British Columbia mayors whose communities were devastated by last year’s flooding and wildfires want the federal government to deliver billions of dollars in promised funding as soon as possible. Abbotsford Mayor Henry Braun said he was among 28 mayors and members of regional districts who met with federal and provincial politicians Monday to […]
By Jason Contant | April 12, 2022
4 min read
Western Canada is the target for the latest rounds of acquisitions from large Canadian P&C brokerages. Intact Financial Corporation subsidiary BrokerLink and Westland Insurance Group announced recent acquisitions in northern and southern Alberta, Saskatchewan, and Manitoba. Westland Insurance Group also continues to grow with the acquisition of two new brokerages: Saskatchewan-based Booth Burnett Insurance and […]
By Jason Contant | April 11, 2022
2 min read
FREDERICTON – New Brunswick officials are advising people in flood-prone areas of the province to pay attention as the water levels of the Saint John River are on the rise. The spillway gates at the Mactaquac Dam, near Fredericton, will need to be opened soon because of the rising water, Department of Public Safety spokesman […]
As expected, 2022’s federal budget included a 1.5% bank and insurer surtax for taxable income over $100 million for taxation years that end after April 7. That means those companies will pay 16.5% on income above that threshold going forward. Banks and insurers will also have to pay a one-time 15% tax on 2021 taxable […]
By Phil Porado | April 8, 2022
3 min read
As workplace digitization increases, small brokerages can benefit from automating their processes just as much as big ones, said panellists in a Canadian Underwriter webinar Wednesday. Across the industry, digital technology adoption has accelerated year-over-year. Canadian brokerages with revenues of $5 million to $9 million had the highest technology adoption score at 50% in 2021, […]
By Alyssa DiSabatino | April 8, 2022
A handful of ranchers in British Columbia’s Interior are getting ready to graze their cattle in concentrated areas near homes and community infrastructure, where they’ll eat the grasses that dry over the summer and heighten the wildfire risk. As part of a pilot program led by the B.C. Cattlemen’s Association, ranchers around Kelowna, Peachland, Summerland […]
By Jason Contant | April 8, 2022
Last year saw the lowest-ever combined ratio in the Canadian P&C insurance industry, making it the third most profitable year for Canada’s P&C insurance industry since 1975, according to the Property and Casualty Insurance Compensation Corporation (PACICC). “The 2021 industry combined ratio was 85.2%,” PACICC chief economist Grant Kelly and research assistant Zhe (Judy) Peng […]
By Jason Contant | April 7, 2022
Defendants in lawsuits filed by families who lost loved ones in a British Columbia train derailment are denying any wrongdoing in the deaths of three Canadian Pacific Railway employees. The derailment happened on Feb. 4, 2019, when 99 grain cars and two locomotives plummeted off a bridge near Field, B.C. Families of two of the […]
An ongoing labour shortage, exacerbated by the COVID-19 pandemic, is one of the key issues facing the construction industry in general, says the head of risk control with Travelers Canada. “I think the biggest prolonged challenge that comes around, seems to be every decade or so, is really around the shortage of qualified trades,” says […]
By Jason Contant | April 6, 2022
ST. JOHN’S, N.L. – A Royal Canadian Air Force investigator says a military search and rescue helicopter crash in March at the airport in Gander, N.L., was set off by a problem with the pilot seat. The investigator’s report released today says the seat “unexpectedly descended to its lowest position” as the six-person crew were […]
By The Canadian Press | April 6, 2022
1 min read
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