Canadian Underwriter

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Intact Centre, Insurance Bureau react to latest Liberal election promise

August 19, 2021 by Greg Meckbach

Wednesday’s Liberal election promise answers a call from Canada’s property and casualty insurance industry for a national standard for scoring properties on their resilience to weather-related disasters. In a speech in British Columbia Wednesday, Prime Minister Justin Trudeau promised a…

News ClaimsMergers and Aqcuisitions

Classic car coverage provider Hagerty could become publicly-traded

August 18, 2021 by Greg Meckbach

Hagerty Group LLC announced Wednesday it has agreed to merge with a special purpose acquisition company, a deal that is expected to result in the classic car insurance provider becoming publicly-traded on a stock exchange. Hagerty Canada LLC, a licensed…

News ClaimsClaims CanadaInsuranceLegal

Why future care damages exceed $1.2 million in this auto tort case

August 18, 2021 by Greg Meckbach

A British Columbia judge has awarded $1.26 million, in future care costs, to a plaintiff who was hit by a car in 2015. In Pevach v. McGuigan Estate, released Aug. 3, Justice Gordon Funt of the Supreme Court of British Columbia…

News CatastrophesClaimsClaims CanadaClimate ChangeRisk

Maritime farmers ship hay to drought-stricken Prairies

August 18, 2021 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – Farmers in the Maritimes are pitching in to help their drought-stricken Prairie counterparts facing a “devastating” situation. On his farm in the Annapolis valley north of Halifax on Tuesday, Tim Marsh was busy baling hay that will ship…

News ClaimsClaims CanadaEngineeringLegal

Supreme Court of Canada won’t reverse this municipal liability finding

August 17, 2021 by Greg Meckbach

An August 12 Supreme Court of Canada decision means a Toronto-area municipality remains not liable for an electric shock suffered by a teenager at a public sports field. Zoe Onley was 18 when she was placing soccer on a wet…

News ClaimsClimate Change

How insurers plan to advocate for climate adaptation in federal election

August 17, 2021 by Greg Meckbach

Adapting properties and communities to be more resilient to climate-related disasters should be a federal election issue, an Insurance Bureau of Canada official told Canadian Underwriter Monday. “We will be very active throughout the federal election in advocating for adaptation…

News CatastrophesClaimsClaims CanadaInsurance

Forest fire in northern New Brunswick still burning but now considered contained

August 17, 2021 by THE CANADIAN PRESS

FREDERICTON – Fire officials in New Brunswick say a forest fire in the north of the province is now contained. The blaze has burned about 64 hectares east of Mount Carleton Provincial Park. The provincial forest fire report says 60…

News BrokersClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRisk

How Lloyd’s insurers will react to capacity reductions in Canada

August 16, 2021 by Greg Meckbach

“Constant churn” helps restore some capacity withdrawn by syndicates, though not always at the same terms and conditions, Lloyd’s Canada’s new president suggests. “When capacity is scarce in one or more syndicates, other syndicates likely view this as an opportunity,”…

News CatastrophesClaimsClaims CanadaRestoration

Hundreds of properties evacuated as wind prompts growth in B.C. wildfires

August 16, 2021 by Hina Alam - THE CANADIAN PRESS

High winds intensified numerous wildfires burning in British Columbia, forcing more evacuation orders for residents in hundreds of homes late Sunday, says the BC Wildfire Service. Some of the largest and most dangerous fires are burning in the southern Interior…

News ClaimsClaims CanadaInsuranceLegalLegislation / Regulation

How the Supreme Court of Canada has clarified statutes of limitations on lawsuits

August 13, 2021 by Greg Meckbach

A Supreme Court of Canada ruling against the New Brunswick provincial government means it is now easier in some cases for defendants across Canada to argue lawsuits against them should be thrown out of court because they are time-barred, a…

News ClaimsClaims CanadaCommercial LinesInsuranceLegal

4 causes of social inflation and why it’s costing your clients more

August 10, 2021 by Greg Meckbach

Social inflation is one reason your client’s commercial rates may be outpacing the insurers’ loss cost trends, a Bermuda insurer CEO suggests. “I define social inflation as including politicians, regulator, or courts re-defining wording in favour of claimants,” said Albert…

News CatastrophesClaimsClaims CanadaCommercial Lines

How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption

August 9, 2021 by Greg Meckbach

Lloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…