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TORONTO – Katanga Mining Ltd. will pay $30 million to the Ontario Securities Commission for misleading statements, its failure to properly disclose risks around operating in the Democratic Republic of Congo and its reliance on a controversial billionaire businessman. A panel at the Ontario regulator approved the settlement Tuesday that will see Katanga, majority owned […]
By Greg Meckbach | December 18, 2018
3 min read
A community in northern Ontario ranks as the safest for drivers in Canada, with an average vehicle collision rate of 3.8%, according to data from the Allstate Insurance Company of Canada. The 10th Annual Allstate Canada Safe Driving Study found Hanmer had an average vehicle collision rate of 3.8% per 100 cars (percentage of vehicles […]
By Jason Contant | December 17, 2018
VANCOUVER – Powerful winds are set to sweep British Columbia on Friday with gusts of up to 100 kilometres an hour in some areas. Environment Canada has posted wind warnings for Metro Vancouver, Fraser Valley, Vancouver Island and parts of the Interior. The national weather agency says it expects strong winds that may cause damage […]
By Greg Meckbach | December 14, 2018
1 min read
The traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed more than 470,000 global insurance claims from over 200 countries and territories to determine the […]
By Jason Contant | December 13, 2018
2 min read
REGINA – A consulting firm says sight lines are a safety concern at the rural intersection where the deadly Humboldt Broncos bus crash happened. A 70-page safety review done for the Saskatchewan government says a stand of trees, mostly on private property, obstructs the view of drivers approaching from the south and east – the […]
By Greg Meckbach | December 12, 2018
TORONTO – Canadians who stayed at Marriott International Inc. and Starwood Canada ULC hotels are taking legal action against the companies following a security breach. At least three proposed class actions have been launched in Toronto and Montreal against the U.S.-based company that recently revealed hackers stole contact, credit card, passport and travel information belonging […]
By Greg Meckbach | December 11, 2018
Ford F-Series trucks once again topped the list of Canada’s most frequently stolen vehicles, according to the Insurance Bureau of Canada (IBC). IBC released Tuesday its annual list of most stolen vehicles in Canada, compiled using data from members across the country. Nationally, Ford F350 trucks hold the top five spots, making these light- and […]
By Jason Contant | December 11, 2018
The Canadian Independent Adjusters’ Association (CIAA) has proposed a “national emergency licensing protocol” to address mobility issues facing independent adjusters in Canada. It has also proposed a national licensing qualification, a longer-term solution that would require legislative changes to Insurance Acts in jurisdictions where the regulator is a Superintendent of Insurance. Provinces regulated by Insurance […]
By Jason Contant | December 10, 2018
An insurer’s duty to defend under a provision in a commercial general liability (CGL) form is applicable to the insurance policy as a whole, the Court of Queen’s Bench of Alberta has ruled. In a decision released Friday, the court denied an appeal from Intact Insurance Company. The insurer argued that a collection of its […]
4 min read
Reinsurance is extremely important but could get too expensive in certain areas, industry leaders said at a recent event. Some insurance companies today are “dialing up their reinsurance protection – property and cat risk in particular in the United States,” Colm Holmes, president and chief executive officer of Aviva Canada, said Dec. 6 during a […]
By Greg Meckbach | December 10, 2018
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