Claims

Court sides with insurer in $2.5-million professional liability case

Two creditor firms seeking to access insurance policy proceeds in a $2.5-million trust fund misappropriation case against a lawyer lost their bid to interpret the $500,000 sublimit as applying to each of their claims, instead of being an aggregate policy limit. To make matters worse for the creditors, they couldn’t even collect a penny of […]

By David Gambrill | February 28, 2022

3 min read

How reinsurers are helping banks to assess their climate risk

After Canada’s solvency regulator said the financial sector must better respond to climate-related risks, one Munich Re executive says the global reinsurer is working closely with banks and other federally regulated financial institutions on their climate risk approach. Banks, he said, are “passively accepting” climate risk.  “The major investors in the world are encouraging corporates, […]

By Alyssa DiSabatino | February 24, 2022

3 min read

You must show more than pain to claim a non-earner benefit

It’s a long-held proposition that auto insurance is supposed to restore an injured driver to their pre-accident state of health — but what if that state was one of chronic pain following 15 years of being injured in a prior car accident? Ontario’s Licensing Appeals Tribunal (LAT) has confirmed that being in a state of […]

By David Gambrill | February 23, 2022

3 min read

A 2-step process for the P&C industry to meet Paris Climate Agreement targets

Global reinsurer Munich Re’s CEO said we will not meet the Paris Climate Agreement targets without a “technological restructuring.” The executive explained what that might look like — and how to get insurers back on track towards meeting the targets — during his keynote speech at CatIQ Connect in early February.   Chris Gottardo, head […]

By Alyssa DiSabatino | February 23, 2022

3 min read