Topic
Claims
Why Intact says most clients have no pandemic business interruption coverage
May 6, 2020 by Greg MeckbachFewer than 1% of the commercial property policies that Intact Financial Corp. writes should incur business interruption claims from the coronavirus pandemic, company officials suggested Wednesday. But the insurer has set aside more than $80 million to account for possible…
Federal scientists predict high wildfire risk across Western Canada
May 6, 2020 Bob Weber - THE CANADIAN PRESSEDMONTON – A majority of forests in Canada face a higher-than-normal wildfire risk this summer, say federal scientists. The forecast map from Natural Resources Canada suggests every region west of central Quebec will face an above-average hazard. “We’re starting to…
Aviva loses battle in faulty workmanship exclusion dispute
May 5, 2020 by Greg MeckbachThe application of faulty workmanship exclusions continues to be a subject of disagreement among judges, a Court of Appeal of Alberta ruling from last week shows. The Court of Appeal of Alberta recently found that if a construction contractor causes…
Why home fire risk has increased in Ontario
May 5, 2020 THE CANADIAN PRESSOntario’s fire marshal says there’s been an increase in fire deaths this year as COVID-19 measures force many people to stay home and do more home cooking. Jon Pegg says there have been 51 fire fatalities between Jan. 1 and…
CRU GROUP honoured to assist with Fort McMurray devastation
May 5, 2020 by CRU AdjustersTORONTO, ON, MAY 5, 2020/insPRESS/ – Unlike the 2016 wildfire, Fort McMurray residents and business owners only needed to evacuate for one week before returning to their properties after the recent flood. Assessing the damages and working through the necessary…
How this reinsurer views property risk in Fort McMurray
May 4, 2020 by Greg MeckbachSome properties affected by the current flooding in Fort McMurray, Alberta, were also affected by the massive wildfire in 2016 but despite the multiple tragedies, the properties are still considered insurable. “Property in the town of Fort McMurray, Alberta is…
How to exclude business interruption during pandemic
May 4, 2020 by Greg MeckbachIf a commercial insurer does not want business interruption covering a pandemic-related exposure, how should the policy be worded? One insurance defence lawyer would advise the carrier to add a section entitled ‘Pandemic/viral/bacterial infection’ to the list of exclusions. “I…
Report recommends measures to avoid repeat of flooding in Quebec community
May 4, 2020 Stephanie Marin- THE CANADIAN PRESSMONTREAL – A report into the rupture of a dike in Ste-Marthe-sur-le-Lac, Que., during spring flooding last year suggests several problems including a lack of awareness among the population about the associated risks of living in the area. The report…
Emergency response from the MBC Group to Fort McMurray flooding
May 4, 2020 MBC GroupGATINEAU, QC, MAY 4, 2020/insPRESS/ – We are closely monitoring the situation in Fort McMurray and our Engineers, Environmental Consultant and Appraisers are readily available to provide emergency assistance on existing and future flood related claims. Our team leads: Ross…
Why it’s hard to determine liability when a plaintiff catches coronavirus in nursing home
May 1, 2020 by Greg MeckbachLiability insurers and courts could be entering uncharted legal territory when dealing with class-action lawsuits against nursing homes or long-term care homes in which residents have become sick and died from the coronavirus. In some cases, a question before a…
How pandemic is affecting this Top 5 insurer’s bottom line
May 1, 2020 by Greg MeckbachDelays in construction projects, business interruption, and reduced frequency of vehicle accidents will have an impact on insured losses, but it’s too early to predict exact numbers, The Co-operators General Insurance Company suggested in recent securities filing. “Given the many…
Ecclesiastical Insurance offers advice on mitigating flood damage during the COVID-19 pandemic
May 1, 2020 Ecclesiastical InsuranceTORONTO, ON, MAY 1, 2020/insPRESS/ – Spring overland flooding has already caused extensive damage in Northern Alberta, in what is likely only the first significant flood event in Canada this season. Under normal circumstances, damage caused by floodwater can be…