Insurance & Risk, Analysis, Events and Careers
Claims
Ontario’s Court of Appeal has upheld a ruling in favour of Intact Insurance Company in a priority dispute over who is afforded coverage when operating a rental vehicle. In a decision released Thursday, the appeal court found that liability coverage for rental vehicles is available under the standard Ontario Automobile Policy (OAP1), but only when […]
By Jason Contant | November 22, 2019
3 min read
TORONTO – Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio and all their lending practices kind of converge on a different climate trend line, that […]
2 min read
As the 2021 deadline for IFRS 17 implementation rapidly approaches, insurers would be well-advised to consider a data hub strategy to accelerate their journey to analytics, a speaker stressed last week at the Canadian Insurance Accountant Association’s Fall Technology Seminar. This was one of the “thoughts from the field” – or lessons learned – that […]
By Jason Contant | November 21, 2019
KITCHENER, Ont. – Waterloo Brewing Ltd. says it has lost $2.1 million in what it calls a social engineering cyberattack. The Ontario brewery says the incident occurred in early November and involved the impersonation of a creditor employee and fraudulent wire transfer requests. Waterloo Brewing says it initiated an analysis of all other transaction activity […]
1 min read
An Alberta court case serves as a reminder that parties to commercial insurance contracts need to spell out their assumptions and expectations using plain and ordinary terms
November 20, 2019
4 min read
When an Ontario motorist fails to produce proof of insurance and is charged as a result, police do not have to prove the vehicle is actually uninsured. So says Justice David Rose of the Ontario Court of Justice in R. v. Belleau, a ruling released this past Monday. Justice Rose overturned the acquittal of a […]
By Greg Meckbach | November 20, 2019
A severe earthquake in the Montreal area could cause between $10 billion and $30 billion in economic losses from fire damage, according to a new study from the Institute for Catastrophic Loss Reduction (ICLR). “This loss would be virtually fully insured and would have a very significant impact on the Canadian insurance industry,” said the […]
By Jason Contant | November 19, 2019
More than 1,000 residents displaced by a major electrical fire in 2018 will not be moving back into their apartment building this year. A fire broke out Aug. 21, 2018 in the electrical room of 650 Parliament Street, a high-rise apartment building in Toronto’s St. James Town. “Last week it was announced that 650 Parliament […]
By Greg Meckbach | November 18, 2019
Another chapter in the sad story of a $2.2-million residential heating fuel oil spill, into a fresh-water lake, has been closed. The Supreme Court of Canada announced this past Thursday it will not hear an appeal from Thompson Fuels of Gendron v Thompson Fuels, released in 2018 by the Court of Appeal for Ontario. So […]
5 min read
The Supreme Court of Canada is considering whether or not to send an insurance medical examiner’s libel case to trial, based on comments made by a personal injury lawyer about the examiner’s work in a closed forum that got leaked to the general public. In Maia Bent, et al. v. Howard Platnick, et al, the […]
By Greg Meckbach | November 16, 2019
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.