Ontario ministry issues guidance on paying HST on accident benefits
March 27, 2019 by Jason ContantOntario’s Ministry of Finance has proposed regulatory amendments clarifying that harmonized sales tax (HST) is required to be paid in addition to accident benefit limits. If approved, the proposed changes to the Statutory Accident Benefits Schedule (SABS) under the Insurance…
How environmental liability ruling could affect other insurance lines
March 27, 2019 by Greg MeckbachEnvironmental liability is not the only line of insurance that could be impacted by the recent Supreme Court of Canada ruling on a trustee in bankruptcy’s obligation do deal with inactive energy assets such as oil wells. In Orphan Well…
How the cat season so far compares to 2018
March 26, 2019 by Jason ContantIt seems that the Canadian catastrophe season is off to a strong start, with five events so far this quarter compared to the normal one. “I will say that we have had an anomalous start to the year,” said Laura…
Calgary flood protection a provincial election issue
March 25, 2019 by Lauren Krugel - THE CANADIAN PRESSCALGARY – NDP Leader Rachel Notley pledged more flood protection for Calgary on Friday as she and United Conservative rival Jason Kenney accused each other of dithering on another project to help prevent a repeat of the 2013 deluge that…
Eight years jail time for truck driver in Broncos bus crash
March 22, 2019 by Bill Graveland and Stephanie Taylor - THE CANADIAN PRESSMELFORT, Sask. _ A truck driver who caused the deadly Humboldt Broncos crash has been sentenced to eight years in prison. Jaskirat Singh Sidhu of Calgary had pleaded guilty earlier this year to 29 counts of dangerous driving. He stood…
New insurance coverage for shared travel accommodations
March 21, 2019 by Jason ContantHas your client booked travel accommodations through platforms like Airbnb, HomeAway and Trip Advisor? If so, they are now able to get insurance coverage for trip cancellations and interruptions. CAA Travel Insurance announced Wednesday it has added a new feature…
What ransomware attacks cost your clients
March 21, 2019 by Jason ContantBrokers selling cyber insurance may want to pay attention to a recent statistic: the average financial cost of downtime to a Canadian business following a ransomware attack is 7.5 times higher than the average ransom requested per incident. Canada not…
This Supreme Court ruling could drive environmental insurance sales
March 19, 2019 by Greg MeckbachBrokers could see more demand for environmental liability insurance because of a recent Supreme Court of Canada ruling in favour of the Alberta Energy Regulator, a Toronto underwriter suggests. In Orphan Well Association v. Grant Thornton Ltd., the Supreme Court…
Is Aviva-Desjardins fraud collaboration the dawning of a new era?
March 19, 2019 by Jason ContantCould an insurance fraud collaboration between the second and third largest insurers in Canada herald the beginning of a broader trend across the industry? “Hopefully, this is laying the foundation for great, big things to come,” said Ashish Bhargava, vice…
Poison reports up in wake of cannabis legalization
March 18, 2019 by THE CANADIAN PRESSHALIFAX – Atlantic Canada’s largest children’s hospital is warning parents about the risks of edible weed after a flood of cannabis-related calls to its poison centre. The IWK Health Centre says it fielded three times as many cannabis calls to…
Taking Flight
March 15, 2019 by Kabir Shaal, Co-founder, VP of Client Services, Drone Software Canada Inc.Planning to use drone technology? 3 considerations that will help your ROI to take off
How recreational cannabis has created numerous challenges for insurers
March 14, 2019 by Greg MeckbachCannabis legalization is making things more complex for auto insurers and increasing risk for some commercial property clients, A.M. Best Company Inc. suggests in a recent report. About 25 insurers, most of whom are non-admitted, provide coverage for cannabis risks…
