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News ClaimsClimate ChangeInsurance

How climate change will change the way you do business in the future

December 13, 2019 by Adam Malik

When pricing property coverage in the future, it’s time for the industry to ask itself: “How are we going to deal with changes in weather?” Historically, insurance products have been priced based on data and loss history, observes Ernest Mashingaidze,

News ClaimsCommercial LinesInsuranceReinsurance

Why even cyber policies might not cover cyber losses

December 13, 2019 by Jason Contant

Policies that don’t specifically include or exclude cyber losses (“silent cyber”) have long been a concern of insurers, but you’d think a data breach loss would be covered by a cyber policy, right? Not always. The devil is sometimes in

News ClaimsInsuranceMergers and Aqcuisitions

Canadian healthcare services provider acquires AssessMed

December 12, 2019 by Jason Contant

Lifemark Health Group (LHG) has acquired AssessMed, an independent medical examination services provider for auto insurers, as part of its strategy to diversify its medical assessment services across Canada. In particular, the acquisition allows LHG to broaden its assessment expertise

News ClaimsClimate ChangeInsuranceRisk

How D&O insurance is entering unknown territory

December 11, 2019 by Adam Malik

Gone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the

News Claims

Crews still battling fire from Saskatchewan train derailment

December 11, 2019 The Canadian Press

LANIGAN, Sask. – Saskatchewan’s public safety agency says crews are working in frigid temperatures as they continue to battle a fire that started when a freight train carrying crude oil derailed. The province says crews are taking precautions as Environment

News AdjustersClaimsClaims CanadaInsuranceLegal

Why this $3-million subrogated fire claim against corporate tenant failed

December 10, 2019 by Greg Meckbach

The British Columbia Court of Appeal has ruled against an insurer in finding the parent company of a restaurant intentionally set on fire is not liable. In Austeville Properties Ltd. v. Josan, a ruling in a subrogated $3-million claim released

News ClaimsInsurance

Remember that messy Halloween storm? This is how much it cost insurers

December 10, 2019 by Jason Contant

Heavy precipitation that fell across central and eastern Canada as kids were out trick-or-treating was part of a storm system that caused over $250 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ). Quebec was the hardest-hit

News Claims

Powerful wind storm knocks out power in parts of the Maritimes

December 10, 2019 The Canadian Press

HALIFAX – More than 50,000 homes and businesses were temporarily without electricity across the Maritimes on Tuesday morning as a powerful rain storm downed power lines, damaged buildings and forced the closure of some schools and businesses. The storm moved

News ClaimsInsuranceLegislation / Regulation

Municipalities: another victim of the hard market?

December 9, 2019 by Jason Contant

Are Ontario municipalities another victim of the hardening market? “A lot of municipalities are facing increased premiums or difficulty with obtaining insurance,” said Pino Cianfarani, partner at Lerners LLP, speaking at Insurance Bureau of Canada’s (IBC) Commercial Insurance Symposium Nov.

News ClaimsLegal

How this surety bond could be examined by Supreme Court of Canada

December 9, 2019 by Greg Meckbach

When do the terms of a surety bond allow a construction project owner to withhold payments to a contractor? This question could go to the Supreme Court of Canada, which recently announced a federal crown corporation wants to appeal a

News ClaimsInsurance

Train derailment sparks fire that closes highway

December 9, 2019 The Canadian Press

LANIGAN, Canada – A Canadian Pacific freight train hauling crude derailed overnight sparking a fire that forced the closure of part of a major highway south of Humboldt, Sask. A release issued by the RCMP said traffic on Highway 16

News ClaimsInsurance

Why thieves love the older models of Ford pickup trucks

December 5, 2019 by Adam Malik

Ford trucks once again topped the list of most-stolen vehicles in Canada, according to the latest report from Insurance Bureau of Canada (IBC). But the thieves don’t want the new models: it turns out that nine of the 10 most