Canadian Underwriter

Topic Construction

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Magnitude of U.K.’s Grenfell Tower fire was preventable: FM Global

October 5, 2017 by Canadian Underwriter

The magnitude of the fire that engulfed London’s Grenfell Tower in June was preventable, according to a newly released whitepaper from FM Global, one of the world’s largest business property insurers. On June 14, a massive fire broke out in

News ConstructionLegal

Late payments a ‘threat to the viability’ of small construction business: MPP

October 5, 2017 by Canadian Underwriter

Small businesses in the construction industry face “undue risk” of not being paid in a timely manner, a member of the opposition Progressive Conservative party suggested to the Ontario legislature Tuesday. With late payments to construction contractors, “the issue is

News ClaimsConstruction

Marijuana impairment-related losses could potentially trigger GL policies: RIMS speaker

September 27, 2017 by Angela Stelmakowich

Insurers would be well-advised to track the evolving marijuana risk to determine if impairment-related loss history could trigger defence and indemnification obligations under employers’ general liability policies, it was suggested Tuesday during a session at the RIMS Canada Conference in

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Legislation would mandate surety bonds on public sector construction projects in Ontario

September 13, 2017 by Canadian Underwriter

Surety bonds written by licensed insurers will be mandatory for certain public construction projects in Ontario if a bill tabled Tuesday is passed into law. Bill 142, if passed into law, will “require surety bonds to be posted on public

News ConstructionMergers and AqcuisitionsTechnology

Construction industry ‘particularly vulnerable to cybercrime,’ Northbridge warns

September 12, 2017 by Canadian Underwriter

Large and small construction contractors are vulnerable to cyber crime, with “smart” building devices and lucrative engineering drawings in particular presenting vulnerabilities, Northbridge Insurance warns. “Major advancements in digital connectivity have left the construction industry particularly vulnerable to cybercrime,” Northbridge

News CatastrophesClaimsConstructionMergers and Aqcuisitions

Death toll rises to 35 from powerful, magnitude 8.1 earthquake in Mexico

September 8, 2017 by Mark Stevenson - THE ASSOCIATED PRESS

MEXICO CITY – One of the most powerful earthquakes ever recorded in Mexico struck off the country’s southern coast, toppling hundreds of buildings, triggering tsunami evacuations and sending panicked people fleeing into the streets in the middle of the night.

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182 motorists caught speeding in work zones during SGI’s recent traffic safety spotlight

August 28, 2017 by Canadian Underwriter

Saskatchewan Government Insurance (SGI) has reported that 182 tickets were issued to drivers for speeding in construction work zones during last month’s traffic safety spotlight. In total, 177 tickets were issued to drivers exceeding 60 kilometres an hour while passing highway workers or occupied highway equipment within a municipal or highway work zone, SGI said in a press release issued on Monday. Five tickets were also issued for speeding in construction zones where a flag person is present. The results include all traffic safety focus…

News CatastrophesConstructionMergers and Aqcuisitions

More than 200,000 homes in Texas at potential risk of storm surge damage from Hurricane Harvey: CoreLogic

August 25, 2017 by Canadian Underwriter

More than 200,000 homes along the coast of Texas with a reconstruction cost value (RCV) of approximately US$39.6 billion are at potential risk of storm surge damage from Hurricane Harvey, CoreLogic suggested late Thursday. Irvine, Calif-based CoreLogic, a global property

News ConstructionInsurersMergers and AqcuisitionsTechnology

Cyber market ‘softer than ever,’ commercial property, general liability rates down in U.S. in Q2: CIAB

August 23, 2017 by Canadian Underwriter

Responses from brokers surveyed indicate commercial property insurance rates in the United States dropped an average of 3.6% during the three months ending June 30, with average premium pricing down 1.44% in cyber, in a market that is “softer than

News CatastrophesConstructionMergers and Aqcuisitions

B.C. extends province-wide state of emergency for the third time

August 18, 2017 by Canadian Underwriter

British Columbia’s Ministry of Public Safety & Solicitor General announced on Friday that it has formally extended its province-wide state of emergency for the third time. The state of emergency now runs through to the end of the day on

News ConstructionLegal

Need for building code upgrades ‘did not come about’ due to ice damage: Alberta court

August 14, 2017 by Canadian Underwriter

The Supreme Court of Canada will not be hearing an appeal from an Edmonton shopping mall owner, whose award – of more than $500,000 against insurers, arising from a disputed claim involving building code upgrades – was reversed on appeal.

News CatastrophesConstructionMergers and Aqcuisitions

Alberta government addressing flood resilience in Calgary

August 14, 2017 by Canadian Underwriter

The province of Alberta reported on Friday that it has begun implementing advice from a report that identifies ways to improve flood resilience in Calgary and better water management throughout the Bow River basin. The Advice to Government on Water