Topic
Claims
How climate change will change the way you do business in the future
December 13, 2019 by Adam MalikWhen 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,…
Why even cyber policies might not cover cyber losses
December 13, 2019 by Jason ContantPolicies 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…
Canadian healthcare services provider acquires AssessMed
December 12, 2019 by Jason ContantLifemark 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…
How D&O insurance is entering unknown territory
December 11, 2019 by Adam MalikGone 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…
Crews still battling fire from Saskatchewan train derailment
December 11, 2019 The Canadian PressLANIGAN, 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…
Why this $3-million subrogated fire claim against corporate tenant failed
December 10, 2019 by Greg MeckbachThe 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…
Remember that messy Halloween storm? This is how much it cost insurers
December 10, 2019 by Jason ContantHeavy 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…
Powerful wind storm knocks out power in parts of the Maritimes
December 10, 2019 The Canadian PressHALIFAX – 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…
Municipalities: another victim of the hard market?
December 9, 2019 by Jason ContantAre 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.…
How this surety bond could be examined by Supreme Court of Canada
December 9, 2019 by Greg MeckbachWhen 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…
Train derailment sparks fire that closes highway
December 9, 2019 The Canadian PressLANIGAN, 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…
Why thieves love the older models of Ford pickup trucks
December 5, 2019 by Adam MalikFord 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…