Claims

Claims tech vendor faces possible hostile takeover

A hostile takeover of Canadian claims software vendor Symbility’s corporate parent could be in the works. CoreLogic Inc. announced last week its board of directors is rejecting a takeover offer from Senator Investment Group LP and Cannae Holdings Inc., which own about 15% of CoreLogic stock. Irvine, Calif.-based CoreLogic is publicly-traded. In 2018, CoreLogic bought […]

By Greg Meckbach | July 13, 2020

2 min read

Claims

Why Intact is named in lawsuit over COVID business interruption coverage

More than a dozen Canadian property & casualty insurers, including the largest in the nation, are named in a new proposed class-action lawsuit over business interruption coverage during the COVID-19 pandemic. The notice of action was filed July 6 with the Ontario Superior Court of Justice by law firms Koskie Minsky LLP and Merchant Law […]

By Greg Meckbach | July 10, 2020

4 min read

Claims

Auto insurers, province dispute whether B.C.’s Bill 11 limits competition

The Insurance Bureau of Canada (IBC) has published an open letter to British Columbia Premier John Horgan, outlining concerns that the province’s Bill 11 may “stifle the limited competition that currently exists in BC’s optional auto insurance market,” a claim that the B.C. government strenuously denies. In particular, IBC in its letter highlights a new […]

By David Gambrill | July 9, 2020

3 min read

Claims

Three found dead after downtown motel fire in Prince George, B.C

PRINCE GEORGE, B.C. – The RCMP say the bodies of three people have been found at the scene of a motel fire in downtown Prince George, B.C. Cpl. Craig Douglass says emergency services were called to the Econo Lodge City Centre Inn on Victoria Street around 9 a.m. Wednesday. He says fire crews tackled the […]

By Greg Meckbach | July 9, 2020

2 min read

Briefing Note: New Brunswick

In a nearly unprecedented situation, the province is in an economic state that reflects the rest of Canada, says Andrew McNair, CEO of the Insurance Brokers Association of New Brunswick. “The last 18 months have been challenging. But this seems to be a national issue, not so much regional — which is a new experience […]

July 9, 2020

2 min read

The Aviva contagious disease policy wording at issue in class action BI coverage dispute

The question of whether non-essential businesses that closed during the pandemic are entitled to claim insurance – specifically, for cover arising as a direct result of an outbreak of contagious or infectious disease within 25 kilometres that is required by law to be reported to the authorities – is headed before a Canadian judge. Nordik […]

3 min read

Ontario premier’s stance on liability protection from pandemic

It is not clear yet whether the Ontario government will grant any protection for liability arising from COVID-19, but the province will not protect “bad actors” in the long-term care or nursing home sector, a spokesperson for Premier Doug Ford told Canadian Underwriter Wednesday “Our government will not protect the bad actors – they will […]

3 min read

More class actions headed to court over pandemic business interruption

Class actions asserting pandemic BI insurance coverage are starting to mount in the ‘In’ baskets of Canada’s insurance defence bar. Most recently, Koskie Minsky announced July 6 that it will be one of two firms (the other being Merchant Law) filing a class action lawsuit against insurers. “Business interruption insurance is designed for circumstances such as […]

3 min read

How an insurer in an “underinsured” auto case reduced its exposure by more than $452K

An Ontario auto insurer in an underinsured accident case is entitled to make a subrogated claim against a third party – in this case, a bartender who was found 11% responsible for a fatal car crash — even though its policyholder did not sue that third party for compensation, the Court of Appeal for Ontario […]

4 min read

Lloyd’s proposes “open source” frameworks for future pandemic coverage

Lloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers as a result of the far-reaching impacts of COVID-19. In its recent paper, Supporting global […]

3 min read