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Markets / Coverages
Fierce storm causes storm surges, extensive power outages in Atlantic Canada
January 8, 2018 Alison Auld - THE CANADIAN PRESSHALIFAX – Work crews were fanning out across parts of Atlantic Canada on Friday after a fierce winter storm blasted the region with hurricane-force winds that flooded coastal roads, knocked out power and lashed waterfronts with surging seas. Tens of…
How the Feds’ pot plan could trigger home insurance claims
January 7, 2018 by David GambrillCanadian insurance claims professionals see social host liability issues at play when the federal government’s Cannabis Act comes into force. “If somebody goes to a home where cannabis is available because the homeowner is able to grow four plants, and…
2017 cat bond issuance reaches record levels
January 5, 2018 by Jason ContantCatastrophe bond issuance in 2017 reached record levels, including in Canada, as insurers and reinsurers sponsored approximately US$10.5 billion in cat bonds. According to data from the Artemis.bm Deal Directory, there was more than US$10.5 billion in issuance last year,…
Why you’re not seeing as many carrier acquisitions as expected
January 5, 2018 by Jason ContantThe lack of “domestically sizeable targets” coming to market is one factor contributing to a less-than-expected number of acquisitions for Canadian carriers, an industry analyst says. And whenever a sizeable acquisition opportunity does arise, there is heated competition among multiple…
What the court thinks of secretly recorded medical exams
January 5, 2018 by Canadian UnderwriterA plaintiff in a motor vehicle bodily injury lawsuit should not have secretly recorded a medical exam conducted by a doctor hired by the defendant, an Ontario court ruled last week. A perception of bias on the part of independent…
Sexual harassment, cannabis top legal risks in Canada this year: law firm
January 5, 2018 Ross Marowits - THE CANADIAN PRESSMONTREAL – The hot button issues of sexual harassment in the workplace and cannabis legalization joined a leading Canadian law firm’s annual top 10 list of legal risks for businesses in 2018. Borden Ladner Gervais LLP included sexual harassment in…
2 key concerns for brokers in 2018
January 4, 2018 by Jason ContantMerger activity and technology are two major issues facing brokers looking forward into 2018, says the new Insurance Brokers Association of Ontario (IBAO) president Brian Purcell. Purcell talked to Canadian Underwriter shortly after beginning his new role as IBAO president…
P&C People: who’s doing what?
January 4, 2018 by Canadian UnderwriterKernaghan Adjusters veteran retires Raymond Smith, an insurance industry veteran with more than 45 years of experience, has decided to retire. The vice president of marketing and executive adjuster with Kernaghan Adjusters formally retired after seven years with the firm,…
Why your CGL pollution exclusion may not go far enough
January 4, 2018 by Canadian UnderwriterEven though they put pollution exclusions into their commercial general liability policies, two major insurers are still on the hook for defending a Vancouver area dry cleaner against a lawsuit arising from soil contamination, a court ruled last week. In…
How insurers protect their earnings against multiple catastrophes
January 4, 2018 by David GambrillWith the rise of multiple major catastrophe events in Canada, look for primary insurers to start seeking aggregate reinsurance covers as a means to adapt to climate change-related losses. “It’s the new normal that the companies are going to have…
Totten buys online brokerage
January 4, 2018 by Canadian UnderwriterManaging general agency Totten Insurance Group has acquired Windsor, Ont.-based EasyInsure, which offers quotes for both commercial and personal insurance online. Toronto-based Totten intends to use EasyInsure’s “digital capabilities to better support [Totten’s] current and future clients,” said Hub International…
Defence begins closing arguments at Lac-Mégantic criminal negligence trial
January 4, 2018 The Canadian PressSHERBROOKE, Que. – The lawyer for one of three men charged with criminal negligence in the Lac-Megantic rail disaster that killed 47 people began his closing arguments today. Gaetan Bourassa says the trial is for his client, Jean Demaitre, and…