Industry
Insured damage for severe weather events across Canada reached $2.1 billion again last year, and $2-billion annual Cat losses are quickly becoming the new normal, according to Catastrophe Indices and Quantification Inc. (CatIQ). This is a steep incline compared to the period between 1983 and 2008 where Canadian insurers averaged only $422 million a […]
By Alyssa DiSabatino | January 21, 2022
3 min read
Scam artists who set up websites impersonating home and auto insurance brokerages could be taking advantage of uninsured motorists, a former brokerage owner says. In theory, the industry can try to block access to websites operated by unlicensed miscreants purporting to place insurance, but this would require forensic investigators and possibly court orders against innocent […]
By Phil Porado | January 21, 2022
When it comes to selling your brokerage, timing is everything. Principals considering selling their brokerage should always ask themselves when is the best time to exit in terms of career and family situation, and then work backwards to plan from there, a P&C transaction advisor recommends. It’s critical to allow adequate time to prepare for […]
By Jason Contant | January 21, 2022
VANCOUVER – British Columbia endured sizzling summer heat and bone-numbing cold to end 2021 and the province’s electrical utility says the result was a record-breaking, year-round demand for power, launching a trend that’s not expected to end soon. In a report examining electricity demand during last year’s unprecedented weather events, BC Hydro says the province’s […]
2 min read
Canadians who have auto insurance really need to re-read the fine print on their policies, a recent survey found. A poll of more than 1,300 auto policy holders, conducted by rate comparison site Ratehub.ca, focused on 10 common misconceptions around how car insurance works. One question asked respondents whether or not speeding tickets from automated […]
By Phil Porado | January 20, 2022
Wood frame construction for stratas, increased building material costs, and earthquake exposure in British Columbia contributed to the skyrocketing condo insurance premiums that hard market sector saw over the past few years, an Aon executive says. “There’s a lot more wood frame construction condos there rather than concrete, fire-resistant buildings that you’d see in Toronto, […]
By Jason Contant | January 20, 2022
Francesco Biondi, Associate Professor, Human Systems Labs, University of Windsor – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. While waiting to board a plane on a recent trip out of […]
By The Canadian Press | January 20, 2022
4 min read
Company leaders should constantly identify recurring themes in employee feedback and surveys, congregate that data, and then determine upskilling options for talent development, a recent blog from Harvard Business Review says. Upskilling is a longer-term investment in augmenting the knowledge, skills, and competencies that help employees advance their carriers, explains the blog, How to Build […]
By Jason Contant | January 19, 2022
Business interruption, cyber incidents, and climate change have been dubbed the Top 3 risks facing Canadian businesses this year, according to a new report. Although these were Canada’s Top 3 risks, Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer 2022 found the results differed across the globe. Globally, cyber incidents were considered the […]
By Alyssa DiSabatino | January 19, 2022
OTTAWA – Headline inflation in Canada hit a 30-year high at the end 2021 with warnings from economists that the pace of price increases could rise even higher and stirring expectations of a central bank response before the month is over. Statistics Canada reported Wednesday that the annual pace of inflation climbed in December to […]
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