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As AI fuels a surge in travel scams, here’s how you can protect yourself

Mark Kalinowski’s dad fell for a classic travel scam.

“Someone called one day and said, ‘Hey, good news, you won a trip to Florida. It’s all paid for. Just pay that $200 upfront holding fee,’” Kalinowski recalled from his home in Calgary.
“He’s like, ‘Oh yeah, let me give you my credit card.’”

His dad didn’t sweat the loss, which occurred over a decade ago. But since then, the stream of travel scams has become a flood, posing pitfalls that range from fake websites to phishing emails, phoney vacation listings and hacked loyalty points.

The Association of Canadian Travel Agencies and Travel Advisors, along with other industry groups abroad, has warned about a proliferation of scam and fraud attempts over the past several years as artificial intelligence tools expand the range of criminal opportunities.

Online travel giant Booking.com said in 2024 that AI had fuelled an increase in travel scams of between 500 and 900 per cent over the previous 18 months.

That same year, Flight Centre Canada told The Canadian Press it worked with Google and other search engines to take down more than 200 fraudulent listings on impostor websites in just one month after the search results began appearing in online queries for the travel agency.

Kalinowski, a financial educator at the Credit Counselling Society, says would-be customers should be wary of online ads that link to third-party platforms posing as a hotel or airline.

“Scams are becoming more prevalent. People from all different segments and classes and cohorts of life fall for them. It’s not a question of intelligence,” he said.

Some fraudulent websites take photos and information from hotel, airline and cruise sites to create the impression customers are booking through those same companies.

“If you book from one of these sites, there’s no guarantee you’ll get the room you paid for, and you may not find out until you arrive at the destination — and by that time, your money is likely gone,” Toronto-Dominion Bank warned in a post about travel scams on its website.

Fraudulent postings on vacation rental platforms pose similar risks.

“You’ll think you’re booking an Airbnb or VRBO, and there’s just nothing there when you arrive on the other side,” Kalinowski said.

Other telltale signs of a travel scam include deals that appear too good to be true, high-pressure sales tactics and requests for payment outside usual methods, such as wire transfers rather than payment through the Airbnb app, for example.

Kalinowski recalls one ad, supposedly for Southwest Airlines, that bundled those first two red flags — a tempting offer and urgency — together by offering free flights to the first 500 people who booked via a particular website.

“I don’t know when the last time you had a free flight was,” he said.

“It’s been a long time for me.”

Other potential tells include a request to pay via gift cards or cryptocurrency, rather than going with secure payment methods such as credit cards, which often offer protection if something goes awry.

To guard against scams, travellers should take care to visit a hotel, airline or cruise line’s actual site by typing it in directly or at least double-checking it rather than clicking on an ad. They can also book through a well-known travel agency.

Customers can find further peace of mind by contacting the provider — the airline or hotel, for example — afterward to verify a booking.

To steer clear of bogus vacation rentals, consult reviews and do a Google Street View search to check the address, said Pat Pellegrini, CEO of consumer research firm Vividata. A reverse image search can also reveal if those photos of a sumptuous beachfront patio are copied from another site.

“There’s a lot of bad players, so it makes you have to do a lot more work,” Pellegrini said. Among those bad actors, loyalty points remain a prime target, often via AI-driven phishing attempts.

“The odds of you getting a phishing email that’s looking for your credentials, and they’ll just keep trying to throw stuff at you until they get through, are very high,” Pellegrini said. “Loyalty points have been taken in the same manner.”

Phishing — emails, texts or calls that trick victims into handing over banking details or other sensitive information — saw an especially big surge in recent years, according to Booking.com. Phishing messages are often identifiable by their use of urgent or threatening language, requests for financial info and spelling or grammar mistakes.

For those who do get scammed, report it to local police, the Canadian Anti-Fraud Centre, and the platform that hosted the scam — Google or a short-term rental platform, for example — advises RateHub, an online comparison site for financial products.

Victims should also reach out to their bank or credit card company as soon as possible to try to freeze the payment as well as any compromised accounts, and to monitor for suspicious transactions.

Victims can then notify credit bureaus to flag possible changes to their credit file.

This report by The Canadian Press was first published May 7, 2026.

May 13, 2026
Where Definity is seeing gains from the Travelers integration
Definity Financial Corporation posted $36 million in run-rate expense synergies linked to integration of Travelers Canada business into its operations during 2026 Q1, according to management’s discussion and analysis (MD&A) included in its quarterly regulatory filings.

(Run-rate expense calculations determine a company’s operating costs on an annualized basis by extrapolating short-term spending, quarterly in this case, over a full year.)

Provided the first-quarter trend holds, that means Definity is “in position to achieve run-rate expense synergies of at least $100 million (pre-tax) within 36 months of close,” according to the company’s MD&A.

“We now expect to realize approximately one-third of our $100 million target in the first 12 months, and the remainder over the subsequent 24 months,” the filing adds.

Related: Definity Q1 earnings show Travelers integration producing results

Three main sources for synergies identified by the company include:

technology platform consolidation, as acquired personal and commercial volumes migrate onto Definity’s platforms

elimination of service charges from Travelers’ U.S. parent company

“operational efficiencies driven by elimination of duplicative and administrative activities and the benefits of scale.”

During a May 8 earnings call with investment industry analysts, Definity president and CEO Rowan Saunders notes: “While these initial savings are largely from the elimination of U.S. parent company service charges and proactive attrition management, the next phase of synergies will be driven by technology platform consolidation and operational efficiencies as the integration progresses.”

He adds discipline around costs to achieve those savings are equally important.

“To date, we have incurred approximately $93 million in acquisition costs and recorded $44 million of integration-specific expenses, keeping us firmly on track with our total estimate,” Saunders says, adding the careful execution shows up on the company’s balance sheet.

“Our debt-to-capital ratio is already down to 26.8%, approaching our long-term target of 25%, well ahead of our 24-month guidance. Even after funding this major acquisition, our total financial capacity remains robust at more than $1.1 billion, putting us in an enviable position to fund future organic growth and deliver on our capital priorities.”

Business priorities

One goal emphasized during the earning call is retention of the acquired Travelers Canada business.

“If you just look at the total growth in the first quarter of 35.4% to $1.4 billion overall…we’d say about 80% of that growth is coming through the acquired business in the first quarter,” chief financial officer Philip Mather tells the earnings call in response to a question on breakdown of the 2026 Q1 earnings growth. “Now, attribution to that gets less simple as time goes on, because with the pace of integration, we’ve already unified the new business offering. Trying to split that between the acquired operations versus the underlying run rate activity gets more complex as you go.

“That said, if you take the 35.4% and you…simply isolate out the impact of the retained premiums that we acquired through the deal, the split for that is just over 27% [and] is coming from the retention of the acquired premiums in the quarter. Just over 8% is coming from the underlying organic growth of the business, combined with the Travelers new business contribution in that quarter.”

For context, he adds, that 27% from the acquired business represents a roughly 82% retention rate for that block of business. “That’s already within just a couple of points of our company-wide retention rate,” Mather adds.

Investment income and capital growth

Another plus from the Travelers acquisition was a 60% growth in net investment income to $79.9 million during the quarter, Mather tells the earnings call. He notes the change was “driven primarily by the large asset base from the acquisition,” along with the company’s repositioning as fixed-income yields increased.

“Given this strong performance on our view of the current yield environment, we now expect our net investment income for the full year 2026 will be approximately $320 million,” he adds.

“Our broker distribution platform operating income grew by nearly 25%, driven by strong policy growth and favorable contingent profit commissions earned on a high-quality portfolio.”

And, in response to an analyst question about Definity’s financial capacity of $1.15 billion following the close of the Travelers Canada transaction being “higher than we would have expected,” Saunders replies the company is “very happy” with the outcome.

“Our experience is that this would not put us on the sideline for other opportunities that come by…,” he tells the earnings call. “We’re happy to keep building up some of that capital because our conviction is that there will continue to be M&A opportunities in the Canadian marketplace over the next couple of years.”
May 13, 2026
2026 Q1 Cat updates: When less is more

Flood watches, warnings, and outlooks remain in place across Ontario as the spring thaw continues. However, based on national 2026 Q1 results, natural catastrophe (NatCat) claim numbers are down.

“Only two Cats have been declared this year,” says Institute for Catastrophic Loss Reduction managing director Glenn McGillivray, “both small.”

Although the first quarter is generally pretty quiet for NatCats in Canada, even a slight drop is still good news. NatCat losses dropped in 2025 to around $2.4 billion after an historic $9.4 billion dollar high in 2024. Last year, however, still clocked in as the tenth most expensive year on record. In fact, according to CatIQ, 2025 losses ranked second overall in terms of catastrophes declared and in ice storm losses. The year also topped the list in declared fire catastrophes.

Q1 insights and outcomes

“Comparing Q1 this year to Q1 2025, the losses are 15% of last year,” says Laura Twidle, CEO at CatIQ. Twidle notes that while the first quarter of 2026 did bring a few thousand claims around common seasonal snow, freeze, thaw, and melt events, there were still fewer year-over-year NatCat events and claims.

Also in the news: Brokers’ next big E&O risk

Intact Financial Corporation, parent company of Canada’s largest carrier, referred to 2026 Q1 Cat activity as “benign.” Executives on the company’s 2026 Q1 earnings call told investors first-quarter Cat losses were $141 million, driven primarily by winter storms and large property losses in the UK. Overall, including the company’s US and UK operations, Intact expects $1.2 billion of annual catastrophe losses in 2026, with about one-third of that expected in the second and third quarters.

Adjusters make similar observations.

“Overall activity has been relatively moderate so far this season,” says Christine Segaric, director of Cat response for ClaimsPro. Segaric says volumes are tracking slightly below last year and ClaimsPro has not seen a meaningful increase in claims related to recent weather events. “That said, it’s still early in the season, and we will continue to monitor conditions closely.”

McGillivray points out that the four record events in 2024 all happened within about six weeks and totally changed the complexion of the year in a very short time. As a case in point, he cites the Fort McMurray wildfire with $4 billion in insured loss. There is, he notes, also no final data in terms of the recent events in Northern Ontario. “It will take time to see how those events shake out.”

Melt events in Q2

Twidle notes the snow, freeze, thaw, and melt events so far this year are in similar locations witnessed at the same time last year. “We typically see [them] in Ontario and Quebec each winter,” she says. A spike in warm temperatures in late April drove a rapid thaw and elevated water levels at the start of Q2.

An Ottawa River rising led some residents in Gatineau, Quebec, to voluntarily evacuate last month, for example. At least 200 buildings flooded and a few hundred more were at risk. Quebec City also saw several road closures due to heavy rainfall.

Conversely, though since lifted, states of emergency were declared across parts of Northern Ontario during that same time. Ontario’s Flood Forecasting and Warning Program highlights the 19 districts impacted. As of May 7, only a few of those districts remained under flood warnings, including the Lake Nipissing Shoreline and some of its surrounding areas.

Based on declining water levels and projection data, Greater Sudbury lifted its State of Emergency on May 1 and moved into its recovery phase. The municipality’s Flood Waste Relief Program has also been initiated “to help support residential property owners affected by flooding who do not have flood insurance.”

While the industry awaits the claims numbers and claims costs associated with these events, Q1 results are still worth noting. Yes, the year can change in what McGillivray calls “the snap of a finger,” but for now, the industry can enjoy this seasonal win.

May 13, 2026
A broker’s guide to captive insurance

Captives remain a large untapped market for Alberta brokers. They provide benefits through greater control of claims and books of business, but short-term drawbacks such as financial strain, a captive insurance professional said Sunday during an industry event.

Captive insurance is a licensed insurance company that an insured owns to self-insure their risks. They offer greater control over claims and premiums, but come with short-term financial and resource strain, says Whitney Benson, founder and chief operating officer/chief technology officer at CaptiveSimple.

“Captives offer your clients the opportunity to control their claims in a way that best suits them,” she says during Insurance Brokers Association of Alberta’s (IBAA) Convention 2026 in Banff. “And the biggest thing of all is that captives also afford your clients the opportunity to have 60% of their premiums returned to them,” through a loss fund.

Benson reports captives boast a 99% retention rate, with $1.2 billion available in the addressable market in Canada. “That’s commercial premiums that could be written into captives.”

She adds captives are in it for the long-run and each captive needs premiums in excess of $250,000. Traditionally, coverages placed into captives include commercial property and liabilities.

Claims advantage

From a claims perspective, captive owners hold control traditionally held by carriers. For example, usually when a claim happens, a carrier decides which adjuster or vehicle repair shop to use.

“In the world of captives, the captive owner has that control,” Benson says. “They can make those decisions, and through that, they have greater financial stability.

“[Captive owners] also control their premiums, since those premiums are reflecting their claims, their business alone, not in the industry as a whole.”

Likewise, captives on the broker side do not need to worry about carriers’ risk appetite next year when renewal occurs, or rate increases that are coming down the pipe, Benson says. “You don’t have to worry about how the claim is going to be handled, so you have a greater control for that client.”

Short-term pain for long-term gain

But brokers may say, “So, I’m going to place all this business into the captive, and I’m a producer and I make 100% commission, so then what? And what’s going to happen to my brokerage when my book of business drops?

“Well, that’s one of the drawbacks,” Benson says. “But as you’re building out that capacity over here in the captives, you are going to have to build out capacity, back in that traditional commercial sense.

“You are going to have to take on a little bit of hardship,” she adds. “It can be a very difficult and expensive first year, but that return on investment in the long run, that revenue stability, is worth it in the end.”

Brokerage captive owners may also need to spend money on education or shifting their culture from policy-selling to becoming strategic risk advisors, Benson says.

“There’s a role shift there, and that takes time and that takes money as well,” she says. “So, it can be a huge strain on resources.”

Alberta’s regulatory framework enabling captive insurance companies became effective July 1, 2022, making it the second province (after British Columbia) to allow formal captive insurance domiciles.

May 13, 2026
Williams Meaden & Moore Renamed as Williams C. Lewis Following Partnership with Premier International Forensic Accounting Firm C. Lewis & Company.
Partnership creates new international forensic accounting and litigation support firm with presence across every continent

Voir français ci-dessous

TORONTO, ON & LONDON, UK, MAY 13, 2026/insPRESS/ – Williams Meaden & Moore, a leading forensic accounting and advisory firm, today announced it has partnered with C. Lewis & Company, a premier international forensic accounting practice, and will operate in Canada under the new name Williams C. Lewis Forensic Accountants Inc. This brings together two highly respected and aligned teams to form a new global firm with a presence across every continent.

The combined firm will deliver seamless, cross-border forensic accounting, dispute advisory, litigation support, and investigative services to clients across every major global market. For clients, everything they have come to rely on — the people, the standards, the commitment to excellence and integrity — remains unchanged. The name is new. The standard is higher.

“Today marks a defining moment for our firm and for our clients. This partnership is not simply about scale — it is about bringing together two teams who share an identical commitment to rigorous, independent, and client-focused work. Our clients have always operated across borders. Now, so do we — seamlessly. Williams C. Lewis is built to serve wherever our clients do business, with one standard of excellence worldwide.”

— Ralph Frattaroli, Co-President, Williams C. Lewis (Toronto)

— Nick Angellotti, Co-President, Williams C. Lewis (Toronto)

“Like C. Lewis & Company, Williams are a partner owned, wholly independent, dedicated forensic accounting firm with zero ties to PE firms, adjusters, lawyers, engineers, TPA firms or anyone else for that matter. We have built our reputation on technical excellence and an unwavering focus on our clients. In Williams, we found a firm that shares our values completely. Together we are creating something genuinely different — an international firm that combines global reach with the depth and dedication our clients expect. I am proud of what we are building and could not be more excited for what the future holds.

— Mark Lewis, Partner, C. Lewis & Company (London, UK)

About the Partnership

The partnership combines the complementary strengths of both firms to create a single, integrated practice offering forensic accounting, dispute advisory, litigation support, valuation, and investigative services across Canada, the United Kingdom, the United States, Mexico, Brazil, France, Spain, the United Arab Emirates, Singapore and Australia.

Williams C. Lewis and C. Lewis & Company offers clients:

Global coverage with deep local expertise across every major market

Integrated forensic accounting, valuation, and litigation support services

Seamless cross-border service delivery under one unified standard

Immediate international reach — wherever clients do business

For further information please visit Williams C. Lewis at www.williamsclewis.com and C. Lewis & Company at www.clewis.com

__________

Williams Meaden & Moore devient Williams C. Lewis à la suite d’un partenariat stratégique avec le cabinet international C. Lewis & Company.

Ce partenariat donne naissance à un nouveau cabinet international spécialisé en juricomptabilité et en soutien au litige.

TORONTO, ON & LONDON, UK, MAI 13, 2026 /insPRESS/ – Williams Meaden & Moore, un cabinet de premier plan en juricomptabilité et en services-conseils, annonce aujourd’hui la conclusion d’un partenariat avec C. Lewis & Company, une firme internationale de renom en juricomptabilité. Dans le cadre de cette entente, la société exercera désormais ses activités au Canada sous le nom Williams C. Lewis Juricomptabilité Inc. / Williams C. Lewis Forensic Accountants Inc. Cette alliance réunit deux équipes respectées partageant des valeurs communes afin de former un cabinet d’envergure mondiale présent sur tous les continents.

Le cabinet issu de ce regroupement offrira des services intégrés et harmonisés à l’échelle internationale en juricomptabilité, en soutien aux litiges, en conseil en différents et en enquêtes, au service de clients présents dans l’ensemble des grands marchés mondiaux. Pour la clientèle, les éléments qui ont fait la réputation des deux cabinets demeurent inchangés: les équipes, les normes ainsi que l’engagement envers l’excellence et l’intégrité. Le nom change. Le niveau d’exigence s’élève.

« Aujourd’hui marque une étape déterminante pour notre firme et pour nos clients. Ce partenariat ne vise pas seulement la croissance – il s’agit de réunir deux équipes qui partagent un même engagement envers une approche rigoureuse, indépendante et centrée sur le client. Nos clients évoluent déjà à l’international. Désormais, nous aussi. Williams C. Lewis est conçu pour accompagner ses clients partout où ils exercent leurs activités, selon un standard d’excellence uniforme à l’échelle mondiale. »

— Ralph Frattaroli, Co-Président, Williams C. Lewis

— Nick Angellotti, Co-Président, Williams C. Lewis

« À l’instar de C. Lewis & Company, Williams est une firme détenue par ses associés, entièrement indépendante, spécialisée en juricomptabilité et sans aucun lien avec des sociétés de capital-investissement, des experts en sinistres, des avocats, des ingénieurs, des administrateurs externes ou toute autre entité. Nous avons bâti notre réputation sur l’excellence technique et une attention constante envers nos clients. Avec Williams, nous avons trouvé un partenaire partageant pleinement nos valeurs. Ensemble, nous créons une organisation véritablement distincte — une firme internationale alliant portée mondiale et expertise, comme nos clients l’attendent. Je suis très fier de ce que nous construisons et extrêmement enthousiaste quant à l’avenir. »

— Mark Lewis, Associé, C. Lewis & Company

À propos du partenariat

Ce partenariat met en commun les forces complémentaires des deux cabinets afin de créer une pratique intégrée unique offrant des services de juricomptabilité au Canada, au Royaume-Uni, aux États-Unis, au Mexique, au Brésil, en France, en Espagne, aux Émirats arabes unis, à Singapour et en Australie.

Williams C. Lewis et C. Lewis & Company offerent à leur clients:

Une couverture mondiale appuyée par une expertise locale approfondie dans chaque marché clé

Des services intégrés en juricomptabilité, en évaluation et en soutien au litige

Une capacité d’intervention internationale immédiate, partout où leurs clients exercent leurs activités

Pour plus d’informations, veuillez consulter le site web de Williams C. Lewis à www.williamsclewis.com et le site web de C. Lewis & Company à www.clewis.com
May 13, 2026
Broker Bash de mai – Montréal

Broker Bash de mai – Montréal

Rejoignez-nous le jeudi 28 mai 2026 au 3 Brasseurs McGill pour le Broker Bash, l’événement de réseautage à ne pas manquer. Venez avec vos collègues et passez une soirée agréable à échanger avec des professionnels de tous les secteurs de l’industrie de l’assurance.

Quand
Jeudi 28 mai
à 17 h

Où
3 Brasseurs McGill,
732, rue Sainte-Catherine O,
Montréal, Québec
*Lieu soumis à des limites de capacité.

Réservez la date :

_________________________________________________________________________________________________

May Broker Bash – Montreal

Join us on Thursday, May 28, 2026 at 3 Brasseurs McGill as we present Broker Bash, the networking event you won’t want to miss. Gather your colleagues and enjoy the evening connecting with professionals from all segments of the insurance industry.

When
Thursday, May 28
5:00 PM

Where
3 Brasseurs McGill
732 Rue Sainte-Catherine O
Montreal, Québec
*Venue subject to capacity limits.

Add to Calendar:

May 12, 2026
Wildfire forces 140 from homes in rural county northwest of Edmonton

About 140 people have left their homes due to an out-of-control wildfire northwest of Edmonton.

An evacuation order was issued Monday afternoon for residents in part of Woodlands County south of Whitecourt.

Reeve Dave Kusch said Tuesday the fire is burning southeast of the town and firefighters from multiple communities are tackling the blaze.

The fire appears to have shrunk but it’s unclear whether it has damaged any homes, he said.

Residents have been asked to gather their pets, documents and medications and report to a community centre in Whitecourt.

“For anybody who has been impacted, the county is working on hotel vouchers and meal coupons for individuals,” Kusch said.

The Alberta government said in a statement the fire was about 51 hectares in size and moving away from Whitecourt.

Whitecourt’s mayor says it’s unclear when residents would be able to return home.

“It caught a lot of people off guard, unable to get to their homes, pack or secure anything valuable,” Ray Hilts said. “We’ll do what we can to make it easier for these folks that have been displaced.”

This report by The Canadian Press was first published May 12, 2026.

May 12, 2026
Environmental risks take backseat on list of business leaders’ concerns — in the short term

Societal polarization, geopolitical tension, and economic slowdown are all dominating risk professionals’ heat maps right now, but insurance leaders see a lot of concern about environmental risks looking 10 years ahead.

With the Strait of Hormuz in the Middle East effectively shut down by naval blockades, a tenuous ceasefire in place in a war between the United States and Iran, and global energy prices escalating as a result, insurance leaders in Canada are noting the current pace of global crises is bewildering.

One insurance CFO joked with Canadian Underwriter at a recent conference that rare global risks — events that used to happen only once or twice in decades — now happen on a weekly, if not daily basis.

A former CEO of AIG in Canada, Lynn Oldfield, made a similar point in a recent keynote address at the Insurance Institute of Canada’s 2026 annual symposium in Toronto. She referenced a recent study by Global Risk Institute of 11,000 business leaders representing 116 economies around the world.

“What was the Number 1 takeaway when they amalgamated all that data and all those questions? Uncertainty. From every corner of the globe, in every possible way,” Oldfield said. “This is an unprecedented time….Why? It is characterized by so many risk files.

“But it’s not [just] that. It’s the pace, and the fact that they’re all happening at the same time. And that’s what’s really frustrating.”

Only 10% of business leaders in the GRI survey predicted a calm and stable global outlook over the next two to 10 years. Fifty-seven percent said it’s going to be turbulent or stormy.

And the environment, once a top political priority as of the Global Paris Agreement in 2015, seems to have fallen by the wayside, taking a back seat to other global risks.

Also in the news: ‘Right now means right now:’ How urgency reshapes broker workflows

“Risks are spiraling in scale, intensity and velocity,” Oldfield said. “And I think it’s the velocity we’re feeling right now. Tech risks are growing unchecked. Societies are on edge, and environmental concerns, which is a big one for our industry, are being deprioritized.”

Oldfield showed a slide with “top risk concerns” over time.

Between 2020, and 2023, environmental risk dominated the minds of business leaders.

For example, in 2021, ‘climate action’ and ‘biodiversity’ were two of three top concerns out of five. And in 2022, three environmental risks rated among the Top 5 concerns, including climate action, extreme weather events and biodiversity. In 2023, the two environmental concerns listed are a ‘failure to mitigate climate change’ and ‘natural disasters.’

But between 2024 and 2026, only one of the top five concerns were environmental in nature, with technological concerns beginning to dominate, and polarization remaining a top societal risk. State-based armed conflict is a top political risk in 2025 and 2026.

“We know that green [colour-coded] risks matter to our business, and you will see throughout catastrophic weather events. It really matters to us.”

Over the longer term, out of 10 global risks identified, five environmental risks are of the greatest concern, including extreme weather events, biodiversity loss, and critical changes to Earth’s systems — all ranked one through three out of 10 — followed by natural resource shortages (6) and pollution 10).

“Look at 10 years out, look at all that green,” said Oldfield. “Look at how worried business leaders are. That’s a lot of green, and that means we’ve got to get at it.”

May 12, 2026
Will your clients bother to prevent NatCat damage?
Two new surveys show Canadians – despite saying they’re aware of natural catastrophe (NatCat) risks – aren’t taking necessary steps to prevent damage to their homes or automobiles.

For many, cost is a primary barrier, says Desjardins Insurance research, which finds affordability is a primary barrier to clients making renovations that would protect their homes or vehicles.

“Two-thirds of respondents cite cost as the primary reason they haven’t upgraded their home,” the insurer says. “But nearly half would be willing to invest between $1,000 and $5,000 to protect their home from severe weather.”

Related: As NatCats slow to a dull roar, brokers turn their attention to other concerns

Further, among insured Canadians surveyed, nearly 70% say severe weather could damage their homes, and 80% say their vehicles are at risk.

But just 34% of those same people say they’ve made improvements to protect their homes, and only 38% say they’re likely to do so within the next five years.

Desjardins’ survey of roughly 4,000 Canadians also finds more than half of respondents aren’t aware of government incentives and programs to help fund climate-ready home improvements. These include both federal and municipal flood protection subsidies.

Related: The hidden, truer cost of NatCats in Canada

“That data point is significant, because 82% of respondents say financial incentives would make a difference when they’re deciding whether to protect their homes,” Desjardins says in a press release. “It points to a real need for practical and accessible guidance on prevention that can help Canadians become more proactive.”

There are also some regional differences. While just 34% or respondents nationwide say they’ve taken steps to protect their homes and vehicles from NatCat damage, insureds in Atlantic Canada are the most concerned and best prepared – at around 40%

Wildfire complacency

A second survey, commissioned by Intact, finds 61% of Canadians say they’re either ‘not very’ or ‘not at all’ concerned about wildfires.

That’s surprising given roughly 60% of Canadian communities sit on what climate researchers call the ‘urban-wildland interface’ where developed areas border on forests and grasslands, where wildfires are frequent.

Related: Jasper wildfire rebuild: Challenges persist for local businesses

“Once concentrated in western provinces and territories, wildfires are now increasingly reaching regions across the country that were not traditionally at risk,” the insurer says in a press release. “According to the Canadian Interagency Forest Fire Centre…the amount of land burned across Canada has surged by 81% over the previous decade.”

The survey also finds people who’ve had property damaged by wildfire are more likely to take preventative measures. But it also notes 69% of respondents say they haven’t ‘felt the need to take action.’

Related: The easiest way to save your client’s home from wildfire

In addition to often-cited preventative measures, like removing debris from eavestroughs, moving combustible materials away from buildings, upgrading roofing and siding, and pruning or removing certain trees, the release lists some less-discussed fireproofing upgrades. These include:

Retrofitting deck components to fire-rated materials that do not gap between boards.

Creating a 15 cm non-combustible gap between the ground and house siding, and using non-combustible fencing

Installing 3 mm non-combustible screens on all external vents (except dryer vents)

Installing multi-pane or tempered-glass windows and exterior fire-rated doors
May 12, 2026
Brokers’ next big E&O risk

Cyber insurance will likely factor heavily into broker errors and omissions risk in the near future, BOXX Insurance president Jonathan Weekes said Sunday at the Insurance Brokers Association of Alberta (IBAA) 2026 Convention in Banff.

“I think…the lack of advising clients around cyber insurance and cyber risk will probably be a leading factor [in] broker E&O over the next several years,” Weekes says during a cyber risk session.

As such, he recommends brokers move the discussion about cyber earlier into their conversations about renewals or when taking on a new client.

In a separate session, Grace Leung, a claims expert and vice president at Swiss Re Corporate Solutions, also used the example of cyber as a potential E&O risk. For her company in recent years, ‘recommend coverage type’ is a leading alleged E&O risk.

“So, that’s situations where, for example, you have a business, and your client asks you for the whole package, and you give them everything, but you forget to mention cyber coverage,” Leung says. “And unfortunately, that’s when a cyber incident happens.”

To illustrate the potential cyber E&O risk, consider a case where a client has both a standalone crime policy and standalone cyber policy, Weekes says. It can become a question of which policy responds first, and how the broker outlines policy coverages to the client.

The problem is that a lot of small businesses don’t think they need cyber insurance coverage, because “they’re not important enough for a hacker to care about them,” Weekes says.

“That’s been proven wrong time and time again,” he says. “Actually, small businesses are the most likely organizations to be hit by a cyberattack because they have the least amount of resources.”

Cyber as a risk transfer tool

But cyber insurance should be looked at as a strategic risk transfer tool, Weekes says.

Similar to cyber insurance, many small businesses also don’t buy a standalone crime policy, as they don’t see the value, he says.

To add to the complexity, social engineering/funds transfer fraud and invoice manipulation coverage, for example, has started to work its way into a traditional crime policy. But Weekes recommends that brokers try to get the coverage through the cyber policy as well.

But what about those clients that do buy standalone crime and cyber policies, with coverage for financial crime (specifically cyber exposures like social engineering/funds transfer fraud, invoice manipulation, etc.)?

“You need to have a conversation with [clients] about which one responds first,” Weekes advises. “And I say this because both of these policies will have other insurance clauses.”

If there are two relatively similar coverages, that client will then be in a battle with those carriers as to who is going to pay, Weekes says.

“And the most awkward position to be in is actually the broker position, because you’re either fighting with the carriers or you’re fighting with the client to remain patient as you figure it out,” he says.

But if the client is out, their patience with the broker will be “zero,” Weekes says. And this could lead to a potential broker E&O exposure.

The client could say something like, “You should have known that this could have happened, and you should have figured out how to admit coverage to reduce the likelihood of it happening, or eliminate it,” Weekes says.

What he recommends to brokers — and what he did when he was a broker — is have an endorsement drafted and attached to one of the two policies. “And it would say that this policy is primary for these specific exposures or coverage [areas].”

Larger carriers will likely have such an endorsement ready but may not offer it unless it’s specifically requested.

“You have to take those steps to see where the overlap is and make sure…[to] address it,” Weekes says.

May 12, 2026