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Markets / Coverages
Will pot’s health effects lead to the industry’s next tobacco liability exposure?
October 3, 2018 by Greg MeckbachMarijuana could cause mental illness among youth and government needs to find ways of preventing teens from using it, an Ontario politician said Tuesday. “There are many young people who had their lives turned upside down, and families turned upside…
What changed for insurance industry under the new trade deal?
October 1, 2018 by David GambrillAside from the name change from NAFTA to the United States-Mexico-Canada Agreement (USMCA), what changed for Canada’s property and casualty insurers under the new free trade agreement announced Monday? Not a whole heck of a lot, it would appear. Regulations…
Walmart fined $20K for selling contaminated food after Fort McMurray wildfire
October 1, 2018 The Canadian PressFORT MCMURRAY, Alta. – Walmart Canada has been ordered to pay a $20,000 fine for selling contaminated food after a devastating wildfire in northern Alberta two years ago. Some of the charges against Walmart included failing to dispose of food…
How to bring up the marijuana discussion with clients
September 28, 2018 by Jason ContantBrokers need to know what their client’s habitational lease or contract states about marijuana use to provide their best advice, the Insurance Brokers Association of Ontario said Thursday. Kevin O’Hare, IBAO’s education supervisor and instructional designer, said brokers need to…
How this province is limiting the scope of cannabis risk
September 27, 2018 by Jason ContantOntario will soon introduce legislation defining the scope of recreational marijuana use, just weeks before the federal government is scheduled to legalize pot on Oct. 17. The governing Progressive Conservative Party is introducing a tightly-regulated regime in which municipalities will…
Car surfing covered by auto insurance, court finds
September 27, 2018 by David GambrillAuto insurance covers “car surfing,” in which a person rides on the top or rear of a moving vehicle, an Ontario court has found. “Car surfing or attaching oneself to a vehicle, while reckless and dangerous, is not a more…
Will higher interest rates kick-start M&A?
September 26, 2018 by Jason ContantWhat impact do rising interest rates have on P&C companies conducting mergers and acquisitions? We’re about to find out, as the Bank of Canada is widely expected to raise the interest rate target at an Oct. 24 rate announcement. “The…
Claims whack-a-mole: what’s going on in property lines?
September 25, 2018 by David GambrillAs if mounting auto insurance losses aren’t enough, the industry now has a new emerging issue to worry about this year – an alarming spike in home and commercial property claims. Catastrophe losses and fire are among the chief culprits…
Insurer restricts trampoline insurance coverage after serious injuries
September 21, 2018 by Jason ContantIncreased losses due to significant trampoline injuries has resulted in restrictions on insurance coverage in Alberta. The Alberta Gymnastics Federation (AGF) provided an update on its trampoline coverage on Sept. 7. Due to a recent limitation endorsement, coverage is restricted…
Legal pot sales could reach $1 billion in fourth quarter: Statistics Canada
September 21, 2018 The Canadian PressOTTAWA – Statistics Canada forecasts Canadians could spend more than $1 billion on legal cannabis between October and December this year once marijuana for adult use is legalized on Oct. 17. The agency estimates that the amount spent on legal…
Diesel fuel leaks into river after fatal train derailment
September 20, 2018 The Canadian PressWINNIPEG – A train that derailed in northern Manitoba on Saturday that killed a railway worker is leaking diesel fuel into the Metishto River. Manitoba Sustainable Development says the fuel is from one of the locomotives. The province says spill…
Federal government accelerates phase out of rupture-prone rail tankers
September 19, 2018 The Canadian PressOTTAWA – The federal government is speeding up the timelines for the removal of rupture-prone tank cars from Canadian railroads. Ottawa has taken steps to phase out certain types of tank cars following the deadly train derailment and explosions in…