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Courts can award damages for mental injury without psychiatric diagnosis: Supreme Court of Canada

June 14, 2017 by Canadian Underwriter

The Supreme Court of Canada has rejected an argument by Insurance Bureau of Canada that a court should not award damages for psychological or emotional damage unless the plaintiff demonstrates the tort caused a “recognizable psychiatric illness.” In a recent

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More drone activity anticipated, safety-first approach essential: SCOR newsletter

June 9, 2017 by Canadian Underwriter

An agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical

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Use of captives for cyber liability programs increases 20% in 2016: Marsh report

June 7, 2017 by Canadian Underwriter

The number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled

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Marijuana legalization raises legal issues related to property policies, liability coverage and auto insurance, ARC Group Canada event hears

June 5, 2017 Jason Contant, Online Editor

The impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In

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Amendment to Ontario’s Forest Fires Prevention Act takes aim at railway liability

May 26, 2017 by Canadian Underwriter

A recent amendment to Ontario’s Forest Fires Prevention Act now stipulates that railway corporations are liable for damages related to fires originating within 15 metres of the centre line of their tracks, while members of the Ontario Securities Commission are

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Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings

May 16, 2017 by Canadian Underwriter

Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats

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Non-approved Ontario auto forms do not always render insurance contracts void: Court of Appeal

May 10, 2017 by Canadian Underwriter

If an Ontario auto insurer uses a form that is not approved by the province’s Superintendent of Financial Services, this does not necessarily render the contract of insurance void, the province’s appeal court suggested in a ruling released Wednesday. On

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Q1 revenues up 5% at Aon

May 9, 2017 by Canadian Underwriter

Aon plc reported Tuesday its commercial risk solutions revenue of $984 million in the three months ending March 31, up 2% from $961 million during the same period in 2016, while net income, company wide, dropped 9% due in part

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‘No active deals on the table’ to sell minority interest in SGI Canada

May 7, 2017 by Canadian Underwriter

Saskatchewan has a new law allowing for the sale of up to 49% of crown corporations, but the provincial government will continue to have a monopoly on compulsory auto insurance, a spokesperson for Saskatchewan Government Insurance told Canadian Underwriter Friday.

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Echelon reports Canadian combined ratio of 94% for Q1 2017, down 6% from Q1 2016

May 4, 2017 by Canadian Underwriter

Mississauga, Ont.-based Canadian P&C insurer Echelon Financial Holdings Inc. has reported a Canadian combined operating ratio of 94% for the three months ending March 31, down from 100% in Q1 2016 and driven by strong results in both personal and

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‘Fresh approach’ needed for Ontario auto insurance: IBC CEO

April 25, 2017 Greg Meckbach, Associate Editor

A report released two weeks ago is “probably the best description we have to date of what is wrong” with Ontario’s auto insurance system, the chief executive officer of Insurance Bureau of Canada said Tuesday. In opening remarks at IBC’s

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Global organizations spending almost four times more budget on property-related risks than cyber risks: Aon/Ponemon report

April 25, 2017 by Canadian Underwriter

Global organizations are spending nearly four times more budget on property-related risks than cyber risks, according to a report released on Tuesday by the Ponemon Institute and sponsored by Aon plc. The 2017 Cyber Risk Transfer Comparison Global Report also