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Claims
Hurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also the tenth-largest in Canada in terms of insured damages, surpassing the 2011 Slave Lake, Alta. […]
By Jason Contant | October 19, 2022
3 min read
A B.C. driver claiming the public auto insurer improperly found him at fault for a collision in a Starbucks’ drive-through has lost his case that he wasn’t at fault because none of the line-up lanes had priority. The Civil Resolution Tribunal of British Columbia found Starbucks’ drive-through is a “highway” under the rules of the […]
By David Gambrill | October 18, 2022
Canada’s property and casualty insurers can grow their premiums and pay out fewer claims if they insure and invest in natural assets, including riverbanks, ponds and wetlands, according to case studies contained in the Intact Centre on Climate Adaptation’s new paper “Getting Nature on the Balance Sheet.” Shoring up these natural assets, which help with […]
By Alyssa DiSabatino | October 17, 2022
Lloyd’s of London has a duty to defend the City of Timmins in a negligence lawsuit, in which homeowners are suing the city for failing to prevent progressive land erosion that led to an order to remove, relocate or demolish their home along the Mattagami River. Karine Forget-Briand and Marcel Forget bought vacant land in […]
By David Gambrill | October 17, 2022
Businesses operating trucks can see their livelihoods impacted by unforeseen incidents like mechanical failures, accidents, fires or vehicle thefts. For properly insured businesses, these incidents may result in downtime claims. And those claims often require careful consideration of limitations — because failure to recognize nuances in accounting practices or unique operating procedures can lead to inappropriate […]
By Phil | October 17, 2022
2 min read
The first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages. “The long-awaited adjustment to higher interest rates will ultimately boost reinsurers’ profitability through higher investment […]
By Jason Contant | October 17, 2022
Ontario’s Superior Court has awarded Aviva Canada security of costs of $85,000 in a case in which the insurer has been named in a $5-million lawsuit launched by a warranty provider that has gone out of business. Umbrella Warranty’s claim, which has not been proven in court, is that Aviva Warranty Services Inc. (AWSI) and […]
By David Gambrill | October 14, 2022
HALIFAX – Nova Scotia is proposing legislation that would require telecommunications companies to be better prepared for weather events like post-tropical storm Fiona or risk stiff fines. Amendments to the Emergency Management Act and the Emergency 911 Act would require phone companies to take all possible precautions to maintain service during a major storm […]
By Jason Contant | October 13, 2022
1 min read
It’s getting less ornery out there, if the number of public complaints against insurers is a reliable measuring stick. The General Insurance OmbudService (GIO) received 4,370 contacts from insurance consumers across the country in 2022, with 174 of them escalated to case status. That’s the lowest total of consumer contacts GIO’s received about insurance matters […]
By David Gambrill | October 13, 2022
To reduce claims rates for Alberta-based trucking companies, and loss ratios for commercial trucking insurers, an Insurance Bureau of Canada (IBC) executive said training regimens aimed at improving the quality of drivers entering the sector needs to improve. At 120 hours, Alberta’s Mandatory Entry-Level Training (MELT) program is shorter than those in other provinces – […]
By Phil | October 13, 2022
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