B.C.’s Supreme Court has upheld that an insurer is not obligated to defend parents in a lawsuit alleging negligence for failing to stop their child from inflicting harm on others. In Reeves v Co-Operators General Insurance Company, Bentley Reeves and Dawn Newton were named insureds in a home insurance policy obtained from Co-operators that included […]
By David Gambrill | January 9, 2023
4 min read
Thanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals are sounding the alarm because myriad issues beyond the industry’s control are combining to wreak […]
By Phil | January 9, 2023
3 min read
TORONTO – The Hospital for Sick Children in Toronto says most of its priority systems are back after a ransomware attack affected its operations. Dr. Ronald Cohn, president and CEO of SickKids, says in a release Thursday that about 80 per cent of the hospital’s priority systems have been restored. He says the cyberattack that […]
By Jason Contant | January 9, 2023
2 min read
Improvements in capacity in the directors and officers (D&O) insurance space, combined with a rising quality of boards of directors membership, is making coverage for cannabis producers and distributors more accessible. “We’ve seen a real shift in the experience levels of people that are running these organizations compared to when we first partnered up with […]
By Phil | January 6, 2023
2 min read
ST. JOHN’S, N.L. – The company that operates the Hibernia offshore oil platform has pleaded not guilty to three charges related to a 2019 oil spill off the east coast of Newfoundland. Court documents confirm the Hibernia Management and Development Company entered the pleas Thursday in St. John’s provincial court. A six-week trial is scheduled […]
By Jason Contant | January 6, 2023
1 min read
Hurricane Fiona has now caused insured damage of more than $800 million in Canada, according to Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ’s initial estimate in October 2022 was $660 million. Hurricane Fiona now sits as the seventh-largest catastrophe in Canada’s history in terms of insured damages, up from the tenth-largest, as previously reported. It […]
By David Gambrill | January 5, 2023
2 min read
Delays in collision repair services, which started in 2021 and continued into 2022, will not stop anytime soon due to an ongoing repair technician labour shortage in Canada and the U.S., a consulting firm reported in a recent whitepaper. “From the beginning of the pandemic in 2020 and continuing throughout 2022, demand for collision repair […]
By Alyssa DiSabatino | January 5, 2023
2 min read
The ‘bomb cyclone’ that ripped through eastern Canada during the holiday season has been declared a catastrophe, Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Thursday. The winter storm brought heavy snowfall, strong winds and blizzard conditions to much of North America between Dec. 21 and Dec. 26, Aon said in its weekly […]
By Jason Contant | January 5, 2023
3 min read
An insurance policy exclusion for vacancy applies, even when an insured has arranged for people to look after the vacant property on a daily basis, so long as there is no intention to inhabit the place again, the Ontario Superior Court has confirmed in a $100,000 water damage claim. The court thus tossed the case […]
By David Gambrill | January 4, 2023
3 min read
With a potential recession on the horizon, consumers will likely purchase fewer big-ticket items such as cars and homes. Of course, this also means a decrease in demand for the Canadian P&C insurance industry. “Cars can be seen as a luxury during a recession,” rate comparison site Ratehub.ca said in a blog late last month. […]
By Jason Contant | January 3, 2023
3 min read