MONTREAL – Residents of two municipalities in Quebec’s Laurentians region have been ordered to leave their homes because of the risk a nearby dike could burst. The evacuation order was issued Sunday night for about 1,000 homes near the Kiamika River in the municipalities of Chute-St-Philippe and Lac-des-Ecorces. The two towns are located about 15 […]
By Jason Contant | December 4, 2023
1 min read
The 2023 Atlantic hurricane season has officially come to an end, ranking fourth for the most named storms in a year since 1950. The above-normal season, which officially ended Nov. 30, saw 20 named storms, including seven hurricanes and three major hurricanes. An average season has 14 named storms, with the same number of hurricanes […]
By Jason Contant | December 1, 2023
3 min read
Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday. As part of the investigation dubbed Project Memphis, nine high-end stolen vehicles valued at more than $1.2 million were recovered, PRP said […]
By Jason Contant | November 30, 2023
3 min read
TORONTO – Government impersonation is one of the most common financial scams plaguing people across Canada, a new survey from payment processing company Interac Corp. has found. The report, released Tuesday, said 42 per cent of survey respondents reported dealing with scammers pretending to be representatives of official government institutions. That was followed by 41 […]
By Jason Contant | November 30, 2023
2 min read
CHARLOTTETOWN — The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for rate hikes of about 2.4 per cent by March 1, 2024, for rural residential customers. […]
By Alyssa DiSabatino | November 29, 2023
3 min read
A Nova Scotia court awarded more than $225,000 against a home insurer after its telephone agent placed coverage for a couple’s newly purchased house, when in fact it was unclear if the property was vacant, thus triggering a policy exclusion for water damage. Nova Scotia’s Supreme Court upheld TD Insurance’s policy exclusion for the new […]
By David Gambrill | November 29, 2023
4 min read
An Airbnb renter can be considered an insured under a strata’s insurance policy but may not necessarily rely on other liability protections in a strata’s bylaws, a B.C. Supreme Court justice determined in Strata Plan VR 2213 v Schappert, 2023 BCSC 2080. A subrogated claim brought by the plaintiff’s insurers led to a special case submitted under […]
By Phil | November 29, 2023
4 min read
An Ontario registered psychologist has been fined $15,000 and suspended from practice for a total of 24 months after a regulator found he made misleading accident benefits statements to insurers. The Financial Services Regulatory Authority of Ontario (FSRA) has imposed a compliance order against Romeo Vitelli, which prohibits him from conducting examinations, assessments, or treatment […]
By Alyssa DiSabatino | November 29, 2023
3 min read
CHARLOTTETOWN – The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for rate hikes of about 2.4% cent by Mar. 1, 2024, for rural residential customers. After […]
By David Gambrill | November 28, 2023
3 min read
Reinsurers have their ears to the ground on climate change losses, and Canada’s record wildfire season is adding to the heat, according to industry experts. But while reinsurers are keeping a close watch on wildfire risk, tallied wildfire losses aren’t expected to raise reinsurance renewals for Canadian carriers exponentially, experts told Canadian Underwriter. Part […]
By Alyssa DiSabatino | November 28, 2023
3 min read