Topic Claims
Was derecho storm damage caused by climate change?
May 25, 2022 by Alyssa DiSabatinoThe Long Weekend derecho storm in Ontario and Quebec, which spawned a tornado in Uxbridge, Ont., and resulted in over 1,000 kilometers of damage, is “very difficult” to credit as a climate change event, even though the industry is seeing…
Stakes are high for farmers as 2022 crop shapes up to be most expensive in history
May 25, 2022 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – The stakes are high as Canadian farmers take to the fields to plant 2022’s crop, which some are saying could find a place in the record books as “the most expensive ever.” On her family’s farm northeast of…
Insurers must defend, even if damage falls below the deductible
May 24, 2022 by David GambrillInsurers have a duty to defend in construction cases involving policy exclusions for a “work performed” or “own work,” even if the amount of property damage claimed falls under the policy deductible, Ontario’s Court of Appeal has ruled. In GFL…
First Cat of the year predicted after powerful “derecho” storm
May 24, 2022 by Alyssa DiSabatinoA series of powerful thunderstorms that affected Ontario and parts of Quebec this weekend is already being billed by the industry as the first major Cat of 2022. And while industry experts anticipate a large number of insured damages, one…
Manitoba premier tours flooded cottage country as waters continue to rise
May 24, 2022 by The Canadian PressWINNIPEG – Manitoba Premier Heather Stefanson has taken a helicopter tour of a flooded region in the eastern part of the province. Stefanson says the amount of water is overwhelming in Whiteshell Provincial Park, the latest area to be hit…
Brokers beware: High inflation may catch up to claims valuation software
May 20, 2022 by Philip PoradoValuation models in software systems used by insurers to calculate replacement and restoration costs for commercial structures must be checked more often when inflation’s running high. That’s because costs for labour, lumber, drywall, concrete and other construction materials can jump…
Ford recalls vehicles including nearly 3,000 SUVs in Canada over fire risk
May 20, 2022 by The Associated PressDETROIT – Ford has issued three recalls of more than 350,000 vehicles in North America, including nearly 3,000 in Canada and 39,000 in the U.S. due to a risk the engines could catch fire. Transport Canada said in a recall…
Tow truck driver granted “absolute discharge” for his role in staged collision
May 19, 2022 by David GambrillOntario’s Court for Appeal has given an “absolute discharge” to a tow truck driver who pleaded guilty to fraud under $5,000 – and served a six-month conditional sentence – for his role in a staged collision that cost two insurers…
How modern tech companies are leaving old insurance policies in the dust
May 19, 2022 by Jason ContantModern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that…
Turo ends dual listing prohibition following Competition Bureau investigation
May 19, 2022 by The Canadian PressGATINEAU, Que. – The Competition Bureau says car-sharing service Turo Inc. has ended its policy in Canada that prevented someone from also listing the vehicle on other platforms, following an agency investigation. The Bureau says the change is good for…
5 key trends in the Canadian P&C market, according to Aon
May 18, 2022 by Canadian Underwriter StaffP&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively…
New innocent co-insured law does not apply retroactively: Appeal Court
May 18, 2022 by David GambrillOntario’s new innocent co-insured law does not apply retroactively to claims events that happened before the legislation was passed, the Ontario Appeal Court has ruled. The co-insured rule restricts application of insurers’ policy exclusions for criminal acts only to those…