Insurance & Risk, Analysis, Events and Careers
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Is your client’s loss of income covered if the business got interrupted because of a catastrophe that hit a supplier? That depends on what the policy says and whether the client actually bought contingent business interruption (CBI) insurance. And these days, that doesn’t seem likely, according to a recent report by Lloyd’s. CBI covers lost […]
By Greg Meckbach | October 22, 2019
3 min read
HALIFAX – A proposed class action lawsuit is looking to recover losses sustained by businesses and residential tenants displaced by the collapse of a construction crane in downtown Halifax last month during post tropical storm Dorian. A notice of action was filed in Nova Scotia Supreme Court on Friday by lawyer Ray Wagner. The proposed […]
By Jason Contant | October 22, 2019
Does the federal government have the power to prohibit insurers from asking consumers questions that carriers say are material to their risk? This question was recently put to the Supreme Court of Canada in a life insurance context. “Risk-based underwriting is not bad for you,” said Christopher Richter, a partner with Torys LLP, on Oct. […]
By Greg Meckbach | October 21, 2019
4 min read
VANCOUVER – A 24-year-old woman must undergo multiple surgeries to reconstruct her face after a van dragged her for several blocks in downtown Vancouver last weekend An online fundraising page for the woman, only identified as Desiree, says doctors at Vancouver General Hospital are operating on her while she fights life-threatening injuries. Multiple media reports […]
2 min read
Insurance leaders are aware they’re not moving fast enough to keep up with change, be it around technological or customer expectations. But, as they said at a recent summit, they have no choice but to figure it out. For Pat Van Bakel of Crawford & Company, he told attendees of the recent Canadian Independent Adjusters’ […]
By Adam Malik | October 18, 2019
If a condo corporation enters your client’s unit to repair suspected flood damage but finds other hazards, can they complete those additional repairs instead and seek reimbursement from the unit owner? It would appear not, if the factors of the case are similar to those in a recent ruling from the Court of Appeal for […]
By Jason Contant | October 18, 2019
WINNIPEG – More Manitoba residents saw their electricity restored Thursday – one week after a major snowstorm brought down power poles and transmission towers and delivered another wallop to farmers. Manitoba Hydro said some 6,500 homes and businesses remained without power, down from 9,000 Wednesday and 53,000 on Saturday. Most of the remaining outages are […]
Millennials aren’t necessarily job hoppers, but they don’t want to feel stuck. So if you want to keep your young, talented staff – and attract new ones – make sure you’re showing them how the insurance industry can offer stability and growth opportunities, experts advised. The upper end of the Millennial age group is pushing […]
By Adam Malik | October 17, 2019
If a restaurant loses business because it served meat from a batch later discovered to be unsafe, is the supplier of that meat liable, in tort, to the restaurant for its economic loss due to a tarnished reputation? That question is before the Supreme Court of Canada, which on Tuesday heard an appeal from several […]
By Greg Meckbach | October 17, 2019
5 min read
Higher-than normal levels on the Great Lakes are increasing water damage risk in Windsor, Ont., which was hit two years ago with flooding that cost the industry more than $100 million. “We are well above where we typically are for water elevations in Lake St. Clair and the Detroit River,” Andrew Dowie, executive initiatives coordinator […]
By Greg Meckbach | October 16, 2019
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