Insurance & Risk, Analysis, Events and Careers
Claims
Canada’s top court has essentially confirmed that an insurer’s duty to defend in a commercial insurance case involving a pollution exclusion will depend on the cause of the legal action. In refusing to hear an appeal by The Co-operators, the Supreme Court of Canada has effectively upheld an Ontario Court for Appeal decision that requires […]
By David Gambrill | June 3, 2022
3 min read
As NatCats increase in frequency, getting adjusters to the scene of a claim has been “tougher than it’s been in years past.” Claims experts blame economic strain and inflationary pressures, as well as to the ongoing war for talent. Following the derecho storm that plowed through Ontario and Quebec in May, and the ongoing spring flooding […]
By Alyssa DiSabatino | June 3, 2022
Clean Harbors Canada, one of largest hazardous waste haulers in North America, is not on the hook to pay the cost of first-party fire damage to a truck owned and operated by one of its contractors, an Ontario court has decided. On a job hauling for Clean Harbors, a 2007 Volvo transport truck was damaged […]
By David Gambrill | June 2, 2022
TERRACE, BRITISH COLUMBIA – Warming weather is causing rivers to rise in northern British Columbia, prompting the province to encourage people to prepare for possible flooding. A joint statement from the Ministry of Public Safety and Emergency Management B.C. says a warming trend this week is pushing temperatures to the highest yet this season and […]
By Jason Contant | June 2, 2022
2 min read
Despite Manitoba being battered by flooding and severe weather since mid-April, many homeowners may find themselves without overland flood coverage, according to the CEO of the Insurance Brokers Association of Manitoba. Following an “unseasonably cold spring,” significant snowmelt in April, and a series of significant rainfall and thunderstorms events in May, an overland flood […]
By Alyssa DiSabatino | June 2, 2022
When Hurricane Ida made landfall on Aug. 29, 2021, a handful of parametric insurance policies in Swiss Re Corporate Solutions’ portfolio were affected and potentially triggered. By Sept. 1, all relevant data for determining if the hurricane’s winds met policy-defined requirements to result in a payout were in hand. By Sept. 3, claims conclusions were […]
By Phil | June 1, 2022
The trend of above-average hurricane seasons is expected to continue this year and Canadian insurers should heed this warning by preparing Atlantic businesses for more severe hurricanes, according to Allianz Global Corporate & Specialty’s Atlantic Hurricane Season Outlook 2022. “Although Canada is not typically impacted by severe hurricanes, the unpredictability and severity of extreme weather events […]
By Alyssa DiSabatino | June 1, 2022
An Ontario court has rejected the privacy concerns of an auto accidents benefits claimant who refused to attend a psychological examination required by his insurer, finding that the claimant’s privacy concerns amounted to an abuse of process. Ali Baradaran Bagherian was injured in a motor vehicle accident in July 2014. He commenced an application for […]
By David Gambrill | June 1, 2022
M&A insurance can help small and medium-sized enterprises (SMEs) avoid the need for an escrow agreement, but many small business owners aren’t aware of this possible solution. Escrow agreements are commonly found in M&A deals in the SME segment (deals under C$15 million) in North America. Under those agreements, 10% to 20% of the business’ […]
By Phil | May 31, 2022
Exposure related to insuring personal lines of business in general continues to see steady growth in the Canadian P&C insurance industry, with a whopping $9.3 trillion of personal property assets in Canada now insured against fire, according to Catastrophe Indices and Quantification Inc. CatIQ’s latest annual update of its industry exposure database (IED), released Monday, […]
By Jason Contant | May 31, 2022
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