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Coverage dispute from 1999 spoiled food recall finally ends

February 24, 2020 by Greg Meckbach

Twenty years after a loss resulting from food getting infested with insects, a commercial client has lost its coverage dispute with St. Paul Fire and Marine Insurance Co. The Supreme Court of Canada announced Thursday it had denied leave to

News ClaimsInsuranceLegal

How Canada’s mandatory breach notification has affected the P&C industry

February 24, 2020 by Jason Contant

Canada’s new mandatory breach notification requirements have increased the number of reported claims, leading to a re-shuffling of claims costs for insurers, according to a privacy lawyer. “It definitely leads to more claims and it makes its presence [known] in

News ClaimsClaims CanadaInsurance

The ‘social inflation’ affecting Fairfax Financial’s run-off business

February 21, 2020 by Greg Meckbach

Asbestos-related commercial liability claims could soon reach a peak, but they continue to be a concern for the property and casualty insurance industry, suggests Prem Watsa, founder and chairman of Toronto-based Fairfax Financial Holdings Ltd. “Asbestos has been a problem

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Crash-prone cars you may think twice about underwriting

February 21, 2020 by Adam Malik

Mid-sized and luxury sports cars are the most collision-prone vehicles on the road, including the Hyundai Sonata, Infinity Q50, Lexus GS 350, and the Acura TLX, according to new research by QuoteWizard.com, an online insurance comparison platform. At the other

News ClaimsCommercial LinesInsurance

Cyber insurance: another victim of the hard market?

February 20, 2020 by Jason Contant

Rates for excess cyber insurance in Canada are on the rise. “In Canada, I would say what we are seeing is excess cyber insurers increasing rates,” Brian Rosenbaum, national director of the legal and research practice at Aon Risk Solutions,

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Do insurance pros have a duty to restore a client’s well-being after a loss?

February 20, 2020 by Adam Malik

Brokers are taught the principles of indemnity early in their training: Return the client to the same financial position they were in prior to the loss. But what about their clients’ mental well-being? Can the industry restore that to what

News Claims

Two dead, others seriously injured in 200-car pileup south of Montreal

February 20, 2020 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Two people are confirmed dead in a crash that involved about 200 vehicles on Highway 15 in La Prairie south of Montreal, provincial police say. The confirmation came from the Surete du Quebec, which said the victims are

News ClaimsInsurance

First month in eastern Canada sees storm damage of almost $100 million

February 19, 2020 by Jason Contant

A January storm in southern Ontario and Quebec caused more than $95 million in insured damage, mostly from damage to personal property, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The majority ($81.6 million) of the insured damage

News ClaimsClaims CanadaEngineeringInsuranceLegal

The breach from the throne

February 19, 2020 by Greg Meckbach

Faulty toilet supply lines, often the source of six- and seven-figure water claims, are leading to subrogated claims against manufacturers, installers and others involved in the supply chain leading to your clients’ washrooms. The way a toilet works is that

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How today’s rail blockades could change tomorrow’s policies

February 19, 2020 by Adam Malik

Based on Canada’s railway blockades, commercial clients that haven’t considered insurance coverage in the event of unforeseen disruption might be more keen to discuss their options going forward, according to industry experts. The ongoing railway blockades across the country –

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Boy Scouts seek bankruptcy protection following sexual abuse lawsuits

February 19, 2020 David Crary and Brady McCombs - THE ASSOCIATED PRESS

The Boy Scouts of America urged victims to come forward Tuesday as the historic, 110-year-old organization filed for bankruptcy protection in the first step toward creating a huge compensation fund for potentially thousands of men who were molested as youngsters

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Another way to wreck a condo: Water cooler leaks

February 18, 2020 by David Gambrill

Intact Insurance recently lost a subrogation case in B.C.’s small claims court because it couldn’t prove a cracked water bottle was the source of a water leak that caused $5,000 damage to the condo unit below. One moral of the