Claims
An Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording covers loss of income ‘by order of civil authority resulting from’ a disease outbreak? This […]
By Greg Meckbach | September 17, 2021
3 min read
Despite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,” said Charles Brindamour, CEO of Intact Financial Corp. During an online conference, Scotia Capital equity […]
By Greg Meckbach | September 16, 2021
By Jeremy Rimando, Postdoctoral Research Fellow, Structural Geology and Tectonics, McMaster University and Alexander Lewis Peace, Assistant Professor (Structural Geology), McMaster University – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. […]
By Jason Contant | September 16, 2021
5 min read
Despite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The combined ratio in the Canadian property and casualty insurance industry was 96.6% in 2020, down […]
By Greg Meckbach | September 15, 2021
2 min read
The Lloyd’s market has returned to profitability. The Corporation of Lloyd’s has reported a 2.1-point improvement in its attritional loss ratio, from 52.6% in during the first six months of 2020 to 50.5% in the first half of this year. The combined ratio, for the Lloyd’s market, improved 18.2 points, from 110.4% in the first […]
By Greg Meckbach | September 14, 2021
Losses to Canadian clients, from Hurricane Larry, seem to be comprised mainly of wind damage to residential property on Newfoundland Avalon’s peninsula, according to reports from adjusters so far. Hurricane Larry, which originated in the North Atlantic Ocean, passed by Bermuda last week and made landfall early Saturday morning roughly 100 kilometres west of St. […]
Your commercial client could get business interruption coverage if they can no longer “use” their property, but only if the policy wording actually says so, a Court of Appeal for Ontario panel suggests. MDS Inc. v. Factory Mutual Insurance Company, released Sept. 3., means Rhode Island-based commercial insurer FM Global no longer has to pay […]
By Greg Meckbach | September 13, 2021
4 min read
MILLVALE, N.S. – The RCMP say the bodies of six members of a family were discovered Sunday evening following a fire in a travel trailer in rural Nova Scotia. Officers were called to Mountain Road in Millvale, N.S., Sunday evening around 6:31 p.m. and members reached the area half an hour later after travelling a […]
By Jason Contant | September 13, 2021
Kent Rowe cannot remember winds as bad as they were this past weekend in the Newfoundland and Labrador capital. “We saw gusts here in St. John’s of up to 145 kilometres an hour that lasted for about five or six hours,” Rowe, president of the Insurance Brokers Association of Canada, told Canadian Underwriter on Sunday. […]
By Greg Meckbach | September 12, 2021
ST. JOHN’S, N.L. – Hurricane Larry made landfall as a Category 1 storm in eastern Newfoundland, arriving near South East Bight around midnight local time, according to the National Hurricane Centre in Miami. The storm crashed inland on the western shores of Placentia Bay on the Burin Peninsula with maximum sustained winds of 130 kilometres […]
By Greg Meckbach | September 11, 2021
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