Claims

Invoices don’t add up in commercial claim against RSA, court rules

Ontario’s Superior Court has rejected two claims made by a clothes store operator against RSA for a total of $127,000 in lost inventory due to water damage, because the retailer could not prove the value of the lost merchandise. In the store owner’s first claim, despite repeated emails from the insurance company, Royal & Sun […]

By David Gambrill | September 1, 2022

4 min read

Ways to prevent losses when EVs catch fire onboard ships

Electric vehicles are fire! Literally. The large lithium-ion batteries they contain can catch fire faster than the ones used in laptops or cell phones, and those fires are particularly perilous when they happen on board ships transporting EVs to markets around the globe, said a new report from Allianz Global Corporate & Specialty (AGCS). Fires […]

By Phil | August 31, 2022

3 min read

The good and bad news for reinsurers

The global reinsurance industry appears to be in a “state of equilibrium,” with positive and negative factors countering each other, according to a new report from AM Best. Despite lingering economic and operational challenges stemming from the COVID-19 pandemic, AM Best’s outlook for the global reinsurance industry remains stable, the ratings agency said in its […]

By Jason Contant | August 31, 2022

3 min read

One key difference between a builders’ risk policy and a liability policy

Starr Insurance & Reinsurance Limited does not have to defend its insured in a Quebec construction case, because its builders’ risk policy is essentially a property policy, not a liability policy, Quebec’s Superior Court has ruled. In construction, a builders’ risk policy typically covers the costs of repairing an unfinished structure or replacing building materials […]

By David Gambrill | August 30, 2022

3 min read