Topic Liability
How Canada’s top court just bolstered pandemic BI exclusions
April 1, 2022 by David GambrillCanada’s top court has dismissed the appeal in a nuclear reactor case that trial lawyers might have used as a precedent to challenge the physical damage policy exclusions found in many pandemic-related business interruption insurance cases. As is customary, the…
Placing business with non-licensed markets: What to look for
March 31, 2022 by Greg MeckbachClients looking for property and casualty coverage have options other than insurers licensed to write coverage in Canada. But brokers and managing general agents say there are hazards and tax implications when placing with an unlicensed or non-admitted insurer. And…
TSB says brake failure, cold weather led to deadly train derailment
March 31, 2022 by The Canadian PressCALGARY – An investigation into a fatal train derailment near the British Columbia-Alberta boundary has found the locomotive’s brakes failed with prolonged exposure to cold temperatures. The Transportation Safety Board of Canada on Thursday released its findings into the February…
Alberta Appeal Court keeps $217 million oilpatch cleanup liability case alive
March 29, 2022 by Bob Weber - THE CANADIAN PRESSA bankruptcy hearing that could determine whether more than $200 million in oilpatch environmental liabilities wind up on the public dime will have to go back to court. The Alberta Court of Appeal ruled Friday that the long-running bankruptcy of…
Supply chain concerns overshadow logistics data hacks
March 24, 2022 by Philip PoradoWhile the winter freedom convoy protests and bridge blockades highlighted Canada’s strained supply chains, insured business interruption events linked to logistics problems were common long before the pandemic. Insurers working with logistics clients note congested ports and a lack of…
From nukes to export tangles, war shows need for custom covers
March 23, 2022 by Philip PoradoClients needing war, political violence or terrorism insurance may need to seek bespoke covers, noted a recent Ukraine technical update from claims manager Crawford. “The purpose of a political violence policy is to dovetail with the commercial property policy and…
Alberta auditor general gives qualified thumbs up to oil well cleanup spending
March 23, 2022 by The Canadian PressEDMONTON – The Alberta government is getting mostly check marks from the province’s auditor general over how it handled the billion dollars it got from Ottawa to clean up abandoned oil and gas wells and get service contractors back to…
A new way for insurers to handle construction delays and cost overruns
March 17, 2022 by Jonathan E. McNattySince 2016, the federal government’s slated nearly $100 billion to support development of transit extensions, shipping port improvements, affordable housing and more. When private-sector construction slowed in March 2020, federal infrastructure building quickly filled the gap. And, throughout 2021, both…
Five factors driving M&A activity in 2022
March 15, 2022 by Philip PoradoCalendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center…
How insurers are rethinking ransom coverage
March 15, 2022 by Jason ContantRansomware has long been a thorn in the side for insurers, particularly in recent years. And, although the market will continue to see rate changes in reaction to ransomware losses over the next year, “insurers will be equally focused on…
Dangerous driving doesn’t necessarily trigger policy exclusion for intent to injure
March 14, 2022 by David GambrillA driver pleading guilty and spending nine months in jail on a charge of dangerous driving causing bodily harm does not necessarily prove he intended to cause the injuries, an Alberta court has found. In other words, an auto insurer…
Police, convenience store industry prepare for gas thefts as prices continue to rise
March 11, 2022 by Brittany Hobson - THE CANADIAN PRESSPolice and small retailers are preparing for an increase in “gas-and-dash” thefts as gasoline prices across Canada soar following sanctions against Russia that have put the squeeze on global oil supply. The invasion of Ukraine just over two weeks ago…