Per- and polyfluoroalkyl substances (PFAS) are the subject of a rising number of lawsuits in the U.S., and the industry can expect litigation to seep into Canada, says a risk professional. Also known as ‘forever chemicals,’ PFAS are a group of synthetic chemicals that have chains of carbon-fluorine bonds. These bonds do not degrade […]
By Alyssa DiSabatino | September 19, 2023
3 min read
Citing the lack of a non-compete agreement, as well as the difference between insurance consulting services and those of a traditional insurance brokerage, the Ontario Superior Court declined to order an injunction that would stop two First Nations land claims businesses from competing against one another. Nativelands Specific Claims Group and Aboriginal Insurance Services sought […]
By David Gambrill | September 19, 2023
3 min read
SAINT JOHN, N.B. – A joint task force investigation into last week’s major fire at a scrapyard in Saint John, N.B., will consider whether the recycling plant should continue operating at the city’s port, says Premier Blaine Higgs. Higgs made the comments Tuesday during a news conference, a day after Saint John city council passed […]
By Jason Contant | September 19, 2023
3 min read
Damage stemming from Hurricane Lee won’t be as major as last September’s Hurricane Fiona, insurance experts tell Canadian Underwriter. “At more than $800 million in insured damage, Hurricane Fiona goes down as the costliest natural hazard-related insured loss event in Atlantic Canada history and, after Post-Tropical Cyclone Lee, it appears it will stay that […]
By Alyssa DiSabatino | September 18, 2023
3 min read
WILLIAMS LAKE, B.C. – An evacuation order has been issued by Cariboo Regional District for 28 properties in the Horn Lake Area in central British Columbia. This comes as the BC Wildfire Service says fire behaviour on the nearby Hell Raving Creek blaze, which is now 114-square kilometres in size, has increased due to strong […]
By Jason Contant | September 18, 2023
1 min read
Although climate change is frequently cited as the Number 1 reason for higher natural catastrophes (NatCat) losses, increases in property exposure and repair costs are more significant short-term factors, according to a new report by Verisk Analytics. “Climate change is often cited as the primary reason for this increase in losses, and, while climate change […]
By David Gambrill | September 15, 2023
3 min read
As clients tighten their purse strings in anticipation of an economic downturn, they are increasingly underinsured for their crime-related losses. Crime insurers are seeing an uptick in social engineering (i.e., phishing) claims, says Katherine Gauthier, vice president of specialty solutions (E&O, D&O & Crime for Canada), at Intact Insurance. Whether commercial insureds have reduced their […]
By Phil | September 15, 2023
3 min read
OTTAWA – The Weather Network and MeteoMedia still can’t send weather alerts through push notifications from its app following a “malicious cyberattack” on Monday. But Pelmorex, the parent company of the two weather services, says the attack is not affecting the Alert Ready system it runs to send emergency notifications to cellphones when dangerous weather […]
By Jason Contant | September 15, 2023
3 min read
Booming real estate markets in many Canadian cities have top-tier developers considering building sites they might previously have written off. “Here in Toronto, we know the city was heavily industrialized with old manufacturers that were there 100 years before going out of business or vacating a site. And nobody wants to buy [that site] because […]
By Phil | September 14, 2023
3 min read
New Brunswick and Nova Scotia are bracing for flooding and high winds as Hurricane Lee approaches landfall in Atlantic Canada as a Category 1 storm. Currently showing wind speeds of 155 km/h, Lee is expected to become a strong tropical storm, before transitioning into a post-tropical storm while making landfall anywhere from near Grand Manan […]
By David Gambrill | September 14, 2023
2 min read