Topic
Claims
Cannabis producer says B.C. strike, cyberattack could cause $3 million revenue loss
September 21, 2022 Tara Deschamps - THE CANADIAN PRESSAurora Cannabis Inc. says it could take a revenue hit of up to $3 million because of a cyberattack that downed Ontario’s pot distributor and a strike that halted deliveries to B.C. marijuana stores. Glen Ibbott, the Edmonton-based cannabis company’s…
Do’s and don’ts for dealing with global warming claims
September 21, 2022 by Alyssa DiSabatinoInsurers predict the frequency and sustainability of climate change-related litigation could soon become a significant issue. But there are ways for risk managers to pursue coverage effectively when their businesses are faced with climate-related claims, such as quantifying risk, working…
Here’s how much western Canada’s summer storms cost the industry
September 20, 2022 by Alyssa DiSabatinoSix summer storms across western Canada in July and August will cost the industry approximately $900 million in insured damages — meaning the industry is almost halfway to last year’s total insured damages of $2 billion from these events alone.…
B.C.’s largest wildfire remains out of control
September 19, 2022 The Canadian PressHUDSON’S HOPE, B.C. – An evacuation order for British Columbia’s largest wildfire has been rescinded, though the BC Wildfire Service says the blaze remains out of control. The Battleship Mountain wildfire in the Prince George Fire Centre is now estimated…
It’s not always wise to base coverage solely on clients’ balance sheets
September 16, 2022 David GambrillLess than one-quarter of Canadian businesses have trade credit insurance, which protects their receivables against buyer default and bankruptcies, but Intact Insurance predicts that market penetration is likely to change as the pace and size of interest rate hikes could…
Industry hasn’t done a great job of service: broker execs
September 16, 2022 by Alyssa DiSabatinoThe Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax. What’s the good news? The industry can meet and maintain service levels through collaborative…
Power restored to Jasper, Alta., after national park wildfire caused outage days ago
September 15, 2022 The Canadian PressJASPER, ALBERTA – Parks Canada welcomed visitors back to Jasper National Park Wednesday after power was restored to the townsite that was knocked out by a wildfire north of the community earlier this month. “With the restoration of transmission power…
Who’s at fault in caution light crashes?
September 12, 2022 by David GambrillCanada’s dreaded amber light: it’s the source of numerous intersection crashes, resulting in untold insurance claims. If you are dispensing driver safety tips to clients, be sure to tell your insureds to watch out when turning left against yellow caution…
Wildfire smoke continues to blanket parts of B.C., improves slightly over Vancouver
September 12, 2022 The Canadian PressAir quality has improved slightly over Metro Vancouver but remains at very unhealthy levels in several other regions as wildfire smoke blankets large sections of British Columbia. Environment Canada is maintaining air quality statements for areas from the Peace River…
Lessons from COVID-19 will help brokers get clients through a recession
September 9, 2022 David GambrillIf a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those…
Promise to insure trumps cross-indemnification, court rules
September 8, 2022 by David GambrillIn a commercial hull and machinery insurance policy containing cross-indemnities, a promise to insure by one party trumps the indemnity by the other unless the contract clearly states otherwise, B.C.’s Supreme Court has ruled in a case involving two separate…
Commercial insurer, brokerage granted right to a jury trial in marine claim
September 7, 2022 by David GambrillA B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…