Canadian insured losses topped $2 billion for the second year in a row, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). “2021 saw much discussion of a ‘new normal’ for Canadians, but when it comes to insured losses,…
Several excess insurers have lost their bid to have a lawsuit take place in New York instead of Ontario in a mining insurance case brought before the Ontario Superior Court of Justice. Nine of 22 excess insurers argued that the…
VANCOUVER – Power has been restored in two Vancouver Island communities that lost electricity early last week as snow, ice and wind storms pounded parts of British Columbia, but forecasters warn another powerful system is on the way. BC Hydro…
Greg Smith has been promoted to president of Crawford & Company, Canada. Smith’s 25-year tenure at Crawford began as director/manager of marketing. Prior to his promotion, he most recently held the positions of chief operating officer in 2021 and chief…
A home insurer has been cleared of any liability after a hearing aid supplier produced a different brand of ear phones than had been cited in the initial insurance quote, B.C.’s civil resolution tribunal has found. The small claims court…
By Anne E. Kleffner, Professor, Risk Management and Insurance, University of Calgary and Mary Kelly, Chair in Insurance and Professor, Finance, Wilfrid Laurier University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis…
A phony kidnapping and a driver who was travelling nearly three times the speed he reported to investigators were among Manitoba Public Insurance (MPI)’s Top 5 auto fraud cases of 2021. Last year, MPI’s Special Investigation Unit (SIU) closed nearly…
Reinsurance rate increases for catastrophes in Canadian property lines depended on whether the carriers’ portfolios took a hit last year, with 10% to 20% rate increases for catastrophe portfolios that took a loss, and 5% to 10% increases for those…
Manitoba’s Court of Appeal has overturned a $348,000 damage award against the province’s auto insurer, finding that the insurer did in fact act in good faith towards a person injured in a collision involving an uninsured auto. In making its…
British Columbia suffered its worst flood in the province’s history in late 2021, causing approximately $450 million in insured damages, according to estimates by Catastrophe Indices and Quantification Inc. (CatIQ). Still, the insured damages pale in comparison to Canada’s costliest flood, which…
OTTAWA – An Ontario court has awarded more than $107 million to families of six victims of the Iranian military’s downing of a passenger jet two years ago. The decision made public Monday follows a May ruling that the missile…
VANCOUVER – Richard Bosma’s cows had been home for less than a week after an evacuation due to flooding in Abbotsford, B.C., before temperatures plummeted on his farm. Bosma, who credits his faith with helping him remain resilient in a…