March 29, 2018 by Staff
Insurance companies now won’t be allowed to deny coverage if damage to a property “was caused by a willful or criminal act of any person named under the policy,” the province announced on Thursday.
In a news release, Karen Casey, the province’s finance minister, said the amendments “will protect innocent Nova Scotians by ensuring insurance companies cannot deny coverage for individuals in vulnerable situations, which we know disproportionately affects women.”
Several other provinces have also made this amendment to their respective insurance acts.
Canadian Insurance Top Broker is now on Facebook (facebook.com/TopBrokerMag) as well as LinkedIn (linkedin.com/company/citopbroker) and Twitter (twitter.com/CITopBroker). Follow us for easy access to the top P&C news you need to know.
This story was originally published by Canadian Insurance Top Broker.