Claims

The other financial hit your commercial client takes after a flood

FM Global is raising concerns about companies that don’t practice flood mitigation on their properties, warning that flooding perils decrease an organization’s value by 5% a year after the event. Investors will have their confidence shaken regarding the company’s decision-making at the highest level, the commercial property insurer adds. And rather than focusing on the […]

By Adam Malik | July 29, 2020

2 min read

Claims

How B.C. adjusters are preparing for major earthquake

When the next huge earthquake hits British Columbia, some independent adjusting firms may temporarily re-locate offices inland, perhaps even as far east as Alberta. Kernaghan Adjusters is aiming to be “up and running fairly quickly if we get into an infrastructure problem from an earthquake,” said Debbie Halstead, the independent adjusting firm’s Vancouver Island manager. […]

By Greg Meckbach | July 29, 2020

3 min read

Claims

Pipeline owner fined for unsafe incident near GO tracks in Greater Toronto

CALGARY – The Canada Energy Regulator is fining Trans-Northern Pipelines $40,000 for an incident near a commuter train line in Greater Toronto that resulted in damage to a pipeline transporting gasoline. It says the incident near Oakville could potentially have resulted in fatalities and injuries because the pipeline is located just 35 metres from rail […]

By Greg Meckbach | July 29, 2020

2 min read

Claims

Claimant learns the difference between “hit-and-run” and collision damage

A driver in B.C. is out $1,777 for incorrectly telling the public auto insurer that damage to his parked vehicle was the result of a “hit-and-run,” as opposed to collision damage. Jiameng Wang took Insurance Corporation of British Columbia (ICBC) to small claims court to pay for damage to his car, arguing that the insurer […]

By David Gambrill | July 28, 2020

3 min read

Why Travelers is confident it does not have to cover many COVID-19 business interruption losses

The Travelers Companies Inc. will have to spend money defending itself in business interruption coverage lawsuits arising from the pandemic, but officials with the New York City-based insurer do not expect it will actually have to pay out on many of those claims. “Our commercial insurance property policies that include business interruption, including as a […]

4 min read

Insurer working on future pandemic coverage for school boards, post-COVID

As the Ontario government prepares its school re-opening plan, the insurer for the majority of the province’s boards is working on a plan to provide pandemic coverage, albeit for future pandemics and not for COVID-19. Within the next six to eight months, the Ontario School Boards’ Insurance Exchange (OSBIE) “may have a product that provides […]

3 min read

Hotels sue Aviva Canada for $150 million in proposed BI class action

Lerners LLP has filed a proposed $150-million class-action lawsuit against Aviva Canada on behalf of hotels across the country, claiming that the hotels are entitled to coverage for loss of business income relating to COVID-19. “We know these are challenging times for everyone,” Aviva responded in an email to Canadian Underwriter, when asked for comment […]

3 min read

Multiple townhouse units damaged in Hamilton fire

HAMILTON – Firefighters were called out early this morning to battle a massive wind-whipped blaze in a townhouse complex (pictured, above) in Hamilton, Ont. The Hamilton Fire Department says the multi-alarm inferno erupted in the city’s east side on Edenrock Drive and engulfed 11 townhouse units leaving them in ruins. Video footage from the scene […]

2 min read

Why a tribunal changed the insurer’s finding of fault in this parking lot claim

B.C.’s small claims court recently overturned the public insurer’s assessment of liability in a case in which a driver pulling out of his parking lot space clipped the open door of a car that had just pulled into the space right next to him. Jacob Clark, the driver who brought the case to small claims […]

3 min read

Adjuster reacts to B.C. earthquake

The earthquake earlier this week off the coast of Vancouver Island does not seem to have caused any insured property losses, but the industry is nonetheless encouraging all British Columbians to be prepared in any case for a large disaster. “As far as I know, and in speaking to other adjusters, we have not had […]

2 min read