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A B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd., which involved an overheated ship engine, was too intricate or complex to be determined by […]
By David Gambrill | September 7, 2022
3 min read
Dangerous driving in school zones is a common occurrence, especially during back-to-school time, according to a survey by the British Columbia Automobile Association (BCAA). Eighty per cent of those surveyed said they’ve witnessed speeding in school zones, while 77% have seen distracted driving. Seventy-four per cent of drivers in British Columbia don’t know how to […]
By Alyssa DiSabatino | September 7, 2022
2 min read
Despite predictions of an “above normal” hurricane season this year, it’s started off with a whimper. But that doesn’t necessarily mean it will stay that way, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). In early August, the U.S. National Oceanic and Atmospheric Administration predicted a 60% chance of an […]
By Jason Contant | September 7, 2022
Insurers can trim their environmental remediation costs by shopping around for more than one site estimate, recommends Lori Festarini, environmental director at Charles Taylor. That may involve getting technical support or peer-reviewed cost estimates, she elaborates. “One way of managing the costs is getting multiple estimates,” she advises. “Don’t rely on one professional to provide […]
By Alyssa DiSabatino | September 6, 2022
Aviva Canada successfully appealed a tribunal decision that called for the insurer to pay full auto insurance income replacement benefits (IRB), with no deduction, on top of the sickness benefits she was already receiving under the Employment Insurance Act (EIA). Tania Spence was injured in a motor vehicle accident on Mar. 4, 2019. At the […]
By David Gambrill | September 6, 2022
Car thefts are rising globally, driven by supply chains problems that have squelched car makers’ access to key components, and pushed up prices for both new vehicles and the parts needed to fix cars already on the road. In Europe and the U.K., over the past 10 years technology has become the primary method of […]
By Phil | September 2, 2022
4 min read
In this year’s second annual Jim Abernethy Challenge, the Leukemia & Lymphoma Society of Canada hopes Canadian P&C insurance professionals can help top last year’s $500,000 contribution to blood cancer research and community support. The Jim Abernethy Challenge is part of the Leukemia & Lymphoma Society of Canada’s ‘Light the Night’ campaign, which has a […]
By David Gambrill | September 2, 2022
Insured flood losses doubled to $80 billion during 2011-20 compared to the previous decade, and global flood losses reached $20 billion alone in 2021, Swiss Re reports. “Increased wealth, larger populations and urbanization have raised flood risk exposures across the world,” reads Swiss Re’s latest Economic Insights report. “In addition, an effect of climate change […]
By Alyssa DiSabatino | September 2, 2022
UXBRIDGE, Ont. – Blue tarps colour the rooftops and wooden boards cover up shattered windows in Uxbridge, Ont., three months after a devastating tornado ripped through town northeast of Toronto. Mangled trees and torn-up houses surround one of the town’s few multi-unit apartment buildings, which is still missing a roof after it was torn off […]
By Jason Contant | September 1, 2022
5 min read
Climate-friendly impact investments and those promoting resilience to the damaging effects of climate change are environmentally responsible ways for insurers to allocate their capital, suggests one insurance expert. Aside from charging premiums for policies, insurers turn a profit by investing their premium money into other assets. Insurers can make a positive impact on the […]
By Alyssa DiSabatino | September 1, 2022
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