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Why Intact CEO predicts more rate increases for homeowners

September 16, 2021 by Greg Meckbach

Despite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,”

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Why A.M. Best says the Canadian industry profitability is improving

September 15, 2021 by Greg Meckbach

Despite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The

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Combined ratio drops 18.2 points in the Lloyd’s market

September 14, 2021 by Greg Meckbach

The Lloyd’s market has returned to profitability. The Corporation of Lloyd’s has reported a 2.1-point improvement in its attritional loss ratio, from 52.6% in during the first six months of 2020 to 50.5% in the first half of this year.

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Will Hurricane Larry meet the cat threshold?

September 14, 2021 by Greg Meckbach

Losses to Canadian clients, from Hurricane Larry, seem to be comprised mainly of wind damage to residential property on Newfoundland Avalon’s peninsula, according to reports from adjusters so far. Hurricane Larry, which originated in the North Atlantic Ocean, passed by

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Appeal court quashes ruling that ‘resulting physical damage’ can mean ‘loss of use’

September 13, 2021 by Greg Meckbach

Your commercial client could get business interruption coverage if they can no longer “use” their property, but only if the policy wording actually says so, a Court of Appeal for Ontario panel suggests. MDS Inc. v. Factory Mutual Insurance Company,

The roof of Mary Queen of Peace elementary school was torn off after Hurricane Larry crossed over Newfoundland's Avalon Peninsula in the early morning hours, in St. John's, Saturday, Sept. 11, 2021. THE CANADIAN PRESS/Paul Daly
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What we know so far about Canadian Hurricane Larry claims

September 12, 2021 by Greg Meckbach

Kent Rowe cannot remember winds as bad as they were this past weekend in the Newfoundland and Labrador capital. “We saw gusts here in St. John’s of up to 145 kilometres an hour that lasted for about five or six

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Hurricane Larry makes landfall in eastern Newfoundland

September 11, 2021 by THE CANADIAN PRESS

ST. JOHN’S, N.L. – Hurricane Larry made landfall as a Category 1 storm in eastern Newfoundland, arriving near South East Bight around midnight local time, according to the National Hurricane Centre in Miami. The storm crashed inland on the western

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Why this strata unit owner does not have to pay for common area damage

September 9, 2021 by Greg Meckbach

A British Columbia condo corporation that charged a unit owner $25,000 for common property repairs has been ordered to reverse $15,000 of the charge. Claire Adamson owns a strata unit which she rents out. Adamson lives at a different address.

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How the hail peril is changing

September 8, 2021 by Jason Contant

Once confined mostly to “hail alley” regions such as south and central Alberta, Texas and Colorado, hailstorms are now doing damage across North America in plenty of regions considered low-risk, says a new white paper from RIMS, the risk management

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Centre of storm Larry could travel across Avalon Peninsula

September 8, 2021 by Greg Meckbach

Large Atlantic Ocean waves will soon affect Canada’s east coast as Hurricane Larry continues to move north. UPDATE – Hurricane Larry makes landfall in eastern Newfoundland “Significant swells will begin to reach the east coast of the United States and

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New tropical storm warning for Atlantic Canada

September 7, 2021 by Greg Meckbach

Large waves could hit Canada’s Atlantic coast this Thursday as Hurricane Larry moves north, Environment Canada warns. UPDATE – What we know so far about Canadian Hurricane Larry claims On Tuesday morning, the Category 3 hurricane was causing winds of

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Engineering or maintenance? Why both CGL and professional liability could cover this lawsuit

September 1, 2021 by Greg Meckbach

A British Columbia court has ruled in favour of Northbridge General Insurance Corporation in a dispute with XL Specialty Insurance Company over liability coverage arising from a strata power failure. Both insurers wrote policies for PCA Valence Engineering Technologies Ltd.,