Topic Commercial
Alberta Energy Regulator to launch third-party probe of oilsands tailings leak
March 29, 2023 by Bob Weber - THE CANADIAN PRESSEDMONTON – The Alberta Energy Regulator says it’s looking for an investigator to dig into releases of oilsands tailings and tailings-contaminated water that weren’t made public for nine months. In a statement Tuesday, the regulator said it’s seeking a “qualified,…
Aviva loses bid to quash class action for COVID-related BI losses
March 28, 2023 by David GambrillOntario’s Superior Court has certified a class action lawsuit by a window and door manufacturer against Aviva Canada related to the insurer’s broad denial of pandemic-related business interruption claims. In doing so, the court rejected Aviva’s motion to have the…
Logging, forest loss may have awakened ancient B.C. landslides, at cost of about $1B
March 24, 2023 by Brenna Owen - THE CANADIAN PRESSA series of ancient landslides have been “reawakened” in British Columbia’s Cariboo region, costing hundreds of millions in federal disaster assistance funds and prompting warnings that logging is connected to the problem. The slides and flooding in spring of…
Alberta premier says changes coming to ensure prompt reporting of oilsands spills
March 22, 2023 by Dean Bennett - THE CANADIAN PRESSEDMONTON – Premier Danielle Smith says laggardly public notification of Imperial Oil oilsands wastewater spills has illuminated the need for Alberta to ensure future alarms are sounded quicker. Smith says her government is working with the province’s oilsands regulator to…
Court sides with Trisura in $475K construction bond case
March 22, 2023 by David GambrillTrisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept…
Facility’s newest approach for cracking down on trucker misrepresentations
March 22, 2023 by Alyssa DiSabatinoFacility Association (FA) is implementing a telematics program in Alberta that will collect geographic information on its participants to help ensure their premiums accurately reflect their risk. The programs allows FA the side-benefit of seeing who’s misrepresenting where they’re headquartered…
Can cyber coverage recover from past high loss ratios?
March 20, 2023 by Jason ContantThe Canadian cyber market in general has suffered some “pretty bad loss ratios in the last couple of years,” said Jack Bottomley, senior consultant for cybersecurity with KPMG in Canada. Not long ago, the industry saw its cyber loss ratio…
Ottawa requests joint ‘working group’ on oilsands contamination with Alberta
March 20, 2023 by Bob Weber - THE CANADIAN PRESSFederal Environment Minister Steven Guilbeault has further spelled out what he wants to see in a new body that would oversee monitoring and communications around pollution problems in the oilsands. In a letter dated March 16 to his Alberta counterpart…
Insurers urged to prepare for ‘metaverse’ liability
March 17, 2023 by David GambrillMost insurers are concerned about existing digital liability risks, but in as few as three years, they may be confronting commercial liability risks associated with immersive virtual environments known as the ‘metaverse,’ a Geneva Association (GA) survey of liability insurance…
How the protection gap affects Canada
March 15, 2023 by Alyssa DiSabatinoA growing global protection gap in NatCat and cyber will require more collaboration between public entities and private companies, lest consumers become increasingly uninsurable, the Global Federation of Insurance Associations (GFIA) said in a new report. The report identified a…
A U.K. climate lawsuit Canadian D&O insurers may be following
March 15, 2023 by David GambrillA recent U.K.-based, climate lawsuit launched against Shell plc’s board of directors by NGO ClientEarth may lead to “copycat” litigation in Canada, lawyers warn, potentially affecting the D&O line of commercial insurance. “Corporate climate litigation is still in its infancy…
Direct bringing competition to small-business space
March 15, 2023 by Philip PoradoDirect writer TD Insurance has launched TD Insurance for Business, which will offer commercial property, commercial auto for business vehicles and commercial general liability coverage to Canadian small businesses. Coverage will initially be available in Ontario, followed by other provinces, according…