Topic Property
Get ready for hundreds of claims from Barrie twister
July 21, 2021 by Greg MeckbachThe industry will probably see well over 200 claims from the July 15 tornado that hit Barrie, Ont., says a wind damage expert who has looked at the affected area. “I expect the total number of damaged houses was about…
The legal pitfalls of online and over-the-phone insurance applications
July 20, 2021 by Greg MeckbachA property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone…
Why your clients may not have the high ground on overland flood risk
July 19, 2021 by Greg MeckbachMany homeowners opt not to buy overland flood coverage and this could leave them uninsured in the event of a severe rain storm. “Overland flooding is any water that comes into your house through the windows or door or anything…
Why insured losses from Barrie twister may be higher than you think
July 16, 2021 by Greg MeckbachThe number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported.…
Why construction projects are causing headaches for insurers
July 15, 2021 by Adam MalikBigger and more complex construction projects — especially those in established communities — are giving property and casualty insurance industry professionals in Canada a collective headache, says an industry expert. Construction projects have increased in complexity in recent times due…
Temple Insurance wins appeal in construction wrap-up dispute
July 12, 2021 by Greg MeckbachTemple Insurance Company has won its appeal of a 2020 Court of Queen’s Bench of Saskatchewan ruling in a disputed construction wrap-up liability claim. Temple now has to pay some (but not all) of the legal defence costs incurred by…
Former Aviva Canada VP now CEO of TD Insurance
July 7, 2021 by Greg MeckbachJames Russell, a former senior executive with The Dominion of Canada General Insurance Company and Aviva Canada, is now leading The Toronto-Dominion Bank’s property and casualty insurers. Russell’s appointment results from a re-assignment of several TD senior managers. Russell has…
Why your clients’ basements will probably leak eventually
July 7, 2021 by Greg MeckbachHomeowner clients are battling the elements just by living below the ground floor, and so they will need to act quickly if they notice water pooling in their basement, a building supply vendor suggests. “Creating a comfortable living space in…
5 reasons why fire sprinklers fail, and what your clients can do about it
July 6, 2021 by Greg MeckbachBuilding renovations are among five common reasons for fire sprinkler failure, according to Diana Rodriguez-Zaba, a partner for ServiceMaster Restoration by Zaba, in a recent article on TheBigRedGuide.com. Typical renovation incidents that can cause failure include collisions with construction equipment,…
Restaurant fires and how they are caused
June 30, 2021 by Greg MeckbachKitchen exhaust and gas connections should be near the top of a restaurant client’s risk management agenda. Improperly maintained kitchen exhaust systems are a common cause of restaurant fires, wrote Larry Anderson, editor of TheBigRedGuide.com, in a recent article. This…
How reinsurance prices could come down
June 29, 2021 by Greg MeckbachRecord-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance…
Here’s what can go wrong if you give away a salvage vehicle
June 24, 2021 by Greg MeckbachA couple who thought they received a written-off camper trailer as a gift are entitled to some compensation for repairs they made before the registered owner came to retrieve the vehicle, a Newfoundland and Labrador court has ruled. Sherry Drake…