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Claims
Insurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more often than they were six months ago – and 11% said they now drive to […]
By Phil | October 6, 2022
2 min read
Guaranteed replacement cost (GRC) coverage for rebuilding a flooded home in an area regulated by a conservation authority includes the increased regulatory compliance costs required for the rebuild, Ontario’s Superior Court has ruled in Emond v. Trillium Mutual Insurance Company. In reaching its decision, the court rejected the insurer’s policy exclusion for any additional rebuilding […]
By David Gambrill | October 5, 2022
3 min read
When a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due to theft, damage, mechanical failure or other problems. When those things happen, loss of income […]
By Phil | October 5, 2022
OTTAWA – There is no way to enforce building or fire codes on First Nations and pursuing a legislative fix would require significant time and money, federal officials warn in an internal briefing document. But Blaine Wiggins, the senior director of the Indigenous Fire Marshals Service, said that enforcement gap has “catastrophic” consequences. House fires […]
By Jason Contant | October 5, 2022
4 min read
In what lawyers are calling a “solution in search of a problem,” Canada’s solvency regulator is seeking input from the Canadian property and casualty insurance industry on how to regulate business culture. “I feel like this culture conversation in Canada is a bit of a solution in search of a problem,” Stuart Carruthers, a partner […]
By David Gambrill | October 4, 2022
Although inflationary pressures are adding to the cost of first- and even third-party property claims, commercial insurers can leverage their global resources to reduce these costs, says a commercial insurance exec. “[Inflation] affects the cost to restore a building,” said Bernard McNulty, chief agent and head of claims of Canada at Allianz Global Corporate & […]
By Alyssa DiSabatino | October 4, 2022
OTTAWA – Hockey Canada’s board chairs, past and present, will answer to the federal government today on the hockey body’s handling of alleged sexual assaults and how money was paid out in lawsuits. Former chair Michael Brind’Amour and interim chair Andrea Skinner will appear before a Canadian Heritage standing committee in Ottawa. Edmonton Oilers chair […]
By Jason Contant | October 4, 2022
Hurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive insured losses, it is “not likely to affect credit for rated property [&] casualty (re)insurers […]
By Phil | October 3, 2022
An increase in frequency and severity of cyber insurance claims may be on the horizon, but insurers may be able to stick-handle this risk by taking inspiration from property insurance programs, said one cyber expert during a Canadian Underwriter webinar. This model will mimic the commonly used layered model of insurance for personal home […]
By Alyssa DiSabatino | October 3, 2022
COQUITLAM, B.C. – A regional park in British Columbia’s Lower Mainland has been closed since Saturday as crews battle a wildfire sparked in persistently hot and dry conditions. The Metro Vancouver Regional District posted an update on social media, saying firefighting crews were working in “extremely steep and challenging terrain” to suppress the fire in […]
By Jason Contant | October 3, 2022
1 min read
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