Claims
If you are still placing subscription policies using best-terms pricing, you should stop, the Canadian Council of Insurance regulators suggests. “Fair and transparent pricing is essential to a successful marketplace and CCIR Members expect insurers and brokers to cease BTP practices,” CCIR said December 2 in a release. British Columbia’s financial services authority described best […]
By Greg Meckbach | December 3, 2021
3 min read
MONTREAL – Canadian National Railway Co. says it aims to reopen its network in southern British Columbia this weekend after another bout of rain and wind prompted a second shutdown. CN said Friday that engineers and construction crews continue to work on the Vancouver-Kamloops corridor, which was first cut by landslides and washouts amid torrential […]
1 min read
We can’t say for sure that climate change has caused the heavy rainfall and severe floods and landslides currently affecting British Columbia, but global warming is making disasters like this more likely, a Swiss Re speaker suggested Thursday. “Warmer air can carry more moisture, so there is generally this notion that the frequency of heavy […]
A Toronto firefighter who suffered psychological injury after responding to the deadly 2018 van attack is not entitled to auto accident benefits, the Ontario Licence Appeal Tribunal has ruled. In Travis v Aviva Insurance Company, released Nov. 25, LAT adjudicator Cezary Paluch found that Aviva can deny the firefighter’s claim because he was not involved […]
By Greg Meckbach | December 1, 2021
2 min read
CALGARY – Alberta’s oil and gas regulator has rolled out new rules aimed at addressing the growing problem of inactive and abandoned wells in the province. The new rules will require the energy industry to spend $422 million next year and slightly more in 2023 on cleanup and remediation. Oil and gas producers seeking licences […]
By Jason Contant | December 1, 2021
VANCOUVER – Flood warnings are posted for a section of British Columbia’s southern Interior and flood watches or high water advisories cover large parts of the province, as it deals with the consequences of a second major rainstorm in as many weeks and braces for a third. Environment Canada says more than 100 millimetres of […]
By Greg Meckbach | November 29, 2021
The Insurance Corporation of British Columbia has been ordered to pay an extra $5,000 to a client whose vehicle was badly damaged on a trip from California. In Link v. ICBC, released Nov. 25, the province’s civil resolution tribunal ruled against the auto insurer on a disputed claim with Gordon Link, who had bought a […]
By Greg Meckbach | November 26, 2021
Costs to Canadian insurance companies from accidents and injuries caused by distracted driving could reach $159 million by 2030, according to an analysis from financial products comparison site Hellosafe.ca. The analysis explored two scenarios, an optimistic 2% annual increase in distracted driving-related collisions and a more pessimistic 5% increase. The first predicts distracted driving will […]
By Phil | November 26, 2021
CHANNEL-PORT AUX BASQUES, N.L. – Prime Minister Justin Trudeau has approved a request for military assistance for southwestern Newfoundland, where road washouts from a punishing rainstorm have left the region cut off from the rest of the province. Trudeau issued a brief statement on Twitter Friday, saying members of the Canadian Armed Forces will be […]
Economical Insurance announced Tuesday it has completed its demutualization, the first property and casualty insurer in Canada to do so. Economical’s corporate parent, Definity Financial Corp., said Tuesday it has raised “aggregate gross proceeds” of about $1.6 billion in an initial public offering of stock. Swiss Re Investments Holding company is expected to own nearly […]
By Greg Meckbach | November 24, 2021
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