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What can happen if cargo and business interruption insurer file separate subrogated claims

November 24, 2020 by Greg Meckbach

Two subrogated commercial claims, for a total of about $1.5 million, may be headed to trial in Ontario. Among the issues are how Ontario’s Carriage of Goods Regulation applies to goods going in and out of province, and whether a…

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The Alberta hail cat has not stopped biting

November 23, 2020 by Greg Meckbach

Insurers are still receiving new claims from the June 2020 Alberta hail storm that is estimated to have cost the industry more than $1 billion. “We are actually still seeing some new losses reported from the June storm today,” said…

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Which insurer has to pay if garage loaner vehicle causes an accident

November 20, 2020 by Greg Meckbach

When the driver of a loaner vehicle provided by an auto service centre is sued by an accident victim in Alberta, the insurer of the loaner vehicle may be the first payor. This is what happened when Northwest Acura in…

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What happened to this therapist who was convicted of insurance fraud

November 17, 2020 by Greg Meckbach

An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to…

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Hard market is trickling down to condo unit owners

November 13, 2020 by Greg Meckbach

The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and…

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Winter tire use cut an auto insurer’s claims costs by this much

November 12, 2020 by Greg Meckbach

Vehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use…

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Today’s cat losses ‘unimaginable’ even 10 years ago: mutual CEO

November 12, 2020 by Greg Meckbach

The increase in cat losses over the past 10 years alone is high on the radar for Canada’s mutual insurers and has the industry calling for measures to help adapt properties to severe weather. “We have seen weather and wildfire…

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‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada

November 11, 2020 by Greg Meckbach

A $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.…

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Intact’s message to politicians wanting more commercial insurance regulation

November 5, 2020 by Greg Meckbach

Imposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring…

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What historical insured catastrophe losses really mean

November 4, 2020 by Greg Meckbach

If you take a deep dive into the real cost to Canadians of insured major natural disasters, even though the methodology changed around 2008, it still shows a long-term trend of claims cost increases over nearly 40 years, industry experts…

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How this Supreme Court ruling impacts contractor insolvency risk

November 3, 2020 by Greg Meckbach

A recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a…

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How much Northbridge could pay out in COVID claims

November 2, 2020 by Greg Meckbach

Long-term care facilities accounted for a good chunk of the US$25.5 million in COVID-19 losses that Northbridge reported in the three months ending Sept. 30, officials with parent company Fairfax Financial Holdings Ltd. suggested this past Friday. Toronto-based Fairfax released…