Hailstorm Hardships: IBC reports that recent Calgary hailstorm will continue to put pressure on Alberta’s insurance system
Calgary, Alberta — The Insurance Bureau of Canada (IBC) is warning that more automotive insurers could be pushed out of the province following an August hailstorm that resulted in $900 million in unexpected claims costs pressures. Specifically, Aaron Sutherland, IBC’s vice president for the Pacific and Western area explained in a media release that costs […]
Hunger Pains: Intact says its ‘appetite’ in Alberta auto insurance market reducing
Edmonton, Alberta — Intact Financial Corp says its appetite for Alberta auto insurance business is “reducing” in light of the provincial auto insurance rate cap. During a Q2 2024 earnings call, Intact CEO and Director Charles Brindamour said Alberta’s “artificial cap that is below inflation” makes it “very hard for the industry.” “As a result, […]
