Risk
Minimizing the severity of a pollution claim requires contingency planning and an immediate response. While many commercial general liability policies do not cover pollution, some insurers offer in-house expertise in emergency response, environmental remediation and applicable regulations.
December 31, 2015
7 min read
Factors affecting business interruption (BI) claims in Canada include the continued move towards just-in-time inventory delivery, lower commodity prices and risk-specific policies placed by brokers. The frequency of BI claims in Canada was consistent with experience in other countries, though in Canada in recent years, about 50% of BI claims originated from natural events.
5 min read
Commercial general liability insurance was never intended to cover damages caused by faulty workmanship. Although this principle has been upheld by some courts in the United States, the 2010 Progressive Homes ruling will likely prompt CGL insurers to re-evaluate decisions to deny their duty to defend.
A lack of centralized reporting makes it difficult to understand the scale and scope of cargo theft in Canada. However, existing data indicates some types of cargo - and even certain days of the week - are riskier than others.
3 min read
Changes to Ontario auto insurance, which take effect this June, could well reduce claims costs. But insurance professionals who welcome the changes should be careful what they wish for. In order to examine the impact of the reforms on the auto insurance industry, one should consider the fact that insurance is intended to cover economic […]
1 AssessMed Inc., a provider of independent medical evaluation services, has welcomed Donald Kunkel [1a] as its new president, replacing Brian Sutherland. Kunkel was most recently executive vice president, for AssessMed. Also at AssessMed, Brigitte Kearney [1b] is the company’s new director of quality assurance and recruitment. 2 ACE Limited recently announced more leadership appointments […]
4 min read
CLAIMS Alberta responds to 2013 flood review The Alberta government has accepted several recommendations in relation to an independent review of the province’s response to the floods that occurred in the summer of 2013. The report, called Review and Analysis of the Government of Alberta’s Response to and Recovery from 2013 Floods, makes 16 recommendations […]
6 min read
Inadequate track conditions led to a June 2014 derailment of a Canadian National Railway (CN) freight train near Faust, Alta. that left 1,200 feet of railway track damaged, the Transportation Safety Board of Canada (TSB) said. In a report released on Tuesday, the TSB said that an investigation determined that the derailment occurred when the […]
By Canadian Underwriter | December 23, 2015
2 min read
The Transportation Safety Board of Canada reiterated Monday its concern about the risk of runway incursions at Canadian airports as it released an investigation report into an Aug., 2014 incident that caused no injuries. On Aug. 4, 2014, a ground controller at Winnipeg James Armstrong Richardson International Airport cleared a DHC-8 to taxi for departure […]
By Canadian Underwriter | December 21, 2015
Ratings firm A.M. Best Company is maintaining its outlook for the global reinsurance sector at negative, citing the “significant ongoing market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures.” In a Best’s Briefing on Friday, A.M. Best said that declining rates, broader terms […]
By Canadian Underwriter | December 20, 2015
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