A British Columbia court has ruled in favour of Northbridge General Insurance Corporation in a dispute with XL Specialty Insurance Company over liability coverage arising from a strata power failure. Both insurers wrote policies for PCA Valence Engineering Technologies Ltd.,…
An Ontario court has refused a plaintiff’s request to tell a jury about the statutory deductible, of nearly $40,000 for pain and suffering, in motor vehicle accident tort claims. “The jury is not asked to determine how much the plaintiff…
Canada’s federally-regulated property and casualty insurers collectively made an after-tax profit of $4.23 billion on direct written premiums of nearly $32 billion during the first half of 2021, recently-released regulatory data shows. Most major lines had claims ratios below 55%.…
Up to a quarter of the value of some of your commercial clients’ firms could be their own brand and reputation. This reputational value could degrade quickly if your client is perceived to have behaved badly, a Future of Insurance…
Fire resistant cement board siding, hail-resilient asphalt shingles and backwater valves are among the measures property owners can implement now to protect their assets from climate-related disasters, Aviva Canada CEO Jason Storah suggested Tuesday. “We have enough scientific data to…
Wednesday’s Liberal election promise answers a call from Canada’s property and casualty insurance industry for a national standard for scoring properties on their resilience to weather-related disasters. In a speech in British Columbia Wednesday, Prime Minister Justin Trudeau promised a…
A British Columbia judge has awarded $1.26 million, in future care costs, to a plaintiff who was hit by a car in 2015. In Pevach v. McGuigan Estate, released Aug. 3, Justice Gordon Funt of the Supreme Court of British Columbia…
CALGARY – Farmers in the Maritimes are pitching in to help their drought-stricken Prairie counterparts facing a “devastating” situation. On his farm in the Annapolis valley north of Halifax on Tuesday, Tim Marsh was busy baling hay that will ship…
With water damage claims due to infrastructure failures costing the industry much more per year than natural catastrophes, brokers need to be more proactive in helping clients understand coverages and risk mitigation strategies. Infrastructure and plumbing related water damage is…
Adapting properties and communities to be more resilient to climate-related disasters should be a federal election issue, an Insurance Bureau of Canada official told Canadian Underwriter Monday. “We will be very active throughout the federal election in advocating for adaptation…
FREDERICTON – Fire officials in New Brunswick say a forest fire in the north of the province is now contained. The blaze has burned about 64 hectares east of Mount Carleton Provincial Park. The provincial forest fire report says 60…
The blocking of the Suez Canal by the Ever Given container ship in March shows that ever-increasing vessel sizes continue to pose a disproportionately large risk, said marine insurer Allianz Global Corporate & Specialty SE (AGCS). On Mar. 23, 2021,…