Adjusters Crawford Canada report that all 10,000 “stage one” applications have bee processed in the Walkerton Compensation Plan settlement. Crawford was designated by the courts to administer the settlement following the town’s tainted water crisis and resultant class action in May 2002. Under stage one, over 8,500 members qualified under the class and 7,261 were paid an initial $2,000. In stage two, class or family class members can apply for more complex claims. As of the end of May, 4,520 such applications were received, with 1,700 already receiving compensation. This puts total payouts at more than $22 million.
Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?
Though 2024’s reinsurance renewal season started off stable compared to 2023, this summer’s record-breaking insured losses from four major Nat Cats will undoubtedly see growth in Canadian carriers’ reinsurance demand. But reinsurance supply may not grow commensurately, experts tell Canadian Underwriter. Beyond Canada, global insured Cat losses could be the factor that makes or breaks […]
By Alyssa DiSabatino | September 23, 2024
2 min read
