Claims
Record-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance at DBRS Morningstar. “If investors put more capital into the ILS market, this could put […]
By Greg Meckbach | June 29, 2021
2 min read
The Court of Appeal for Ontario recently ruled in favour of Northbridge Insurance in an auto liability claim that featured a dispute over how much of the plaintiff’s accident benefits should go to the liability insurer. Kossay El-Khodr was rear-ended while driving a tow truck. He sued and was awarded $2.85 million in 2015. At […]
By Greg Meckbach | June 28, 2021
4 min read
Environment Canada says that at least one tornado touched down late Saturday afternoon in midwestern Ontario. Agency meteorologist Brian Owsiak says that reports from the ground, as well as radar signatures, confirmed that a twister hit just east of Chatsworth, Ont. But he says a second one may have also touched down as a severe […]
By Jason Contant | June 28, 2021
1 min read
In a territorial battle for street parking involving sneakiness and deception, a B.C. driver lost his bid to recover his increased auto insurance premium following a minor collision — even though he managed to shift half of the fault over to the other driver. Originally, Wally Henkel, owner of Henkel Construction Ltd., was found 100% […]
By David Gambrill | June 25, 2021
Medians and wide shoulders on highways could encourage distracted driving by giving drivers a false sense of security, transportation researchers suggest in a recent paper. “The combination and presence of a shoulder, median, higher speed limit, and extra lanes could encourage more phone use while driving,” the Texas A&M Transportation Institute said in a press […]
By Greg Meckbach | June 25, 2021
3 min read
Recent talk about UFOs during the pandemic has caused the most conspiratorial among us to wonder if Canada’s property and casualty insurance industry is prepared for the most secretive of risks: An alien invasion of Earth. Film footage has emerged of three shiny green pyramids flying above the U.S.S. Russell near San Diego, California – […]
By David Gambrill | June 24, 2021
5 min read
A couple who thought they received a written-off camper trailer as a gift are entitled to some compensation for repairs they made before the registered owner came to retrieve the vehicle, a Newfoundland and Labrador court has ruled. Sherry Drake is the registered owner of a 32-foot camper trailer. A man with whom Drake was […]
By Greg Meckbach | June 24, 2021
EDMONTON – The Natural Resources Conservation Board has approved a controversial reservoir that could protect Calgary from future flooding, ruling that it’s in the public interest. Alberta Transportation proposed the $432-million off-stream reservoir near the rural community of Springbank, Alta., which is west and upstream of Calgary. The project, which would divert water from the […]
By Jason Contant | June 24, 2021
Global insurance law firm Clyde & Co will be entering the B.C. market through a merger with SHK Law Corporation in B.C., effective July 1. The terms of the merger were not disclosed. B.C.’s property and casualty insurance market is the fourth-largest insurance market in Canada, accounting for more than $6.7 billion in direct premiums […]
By David Gambrill | June 23, 2021
WHITEHORSE – The water level on the Yukon River at the village of Carmacks keeps rising, prompting a flood warning from the territory. A statement from the territory says the river is at a level only seen once every 100 years. The forecasts calls for temperatures in the high 20s, which the statement says will […]
By Jason Contant | June 23, 2021
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