Keyword
Alberta
Class action lawsuit against British hip resurfacing maker can proceed in Alberta
February 8, 2017 by Canadian UnderwriterThe Supreme Court of Canada will not hear an appeal from medical equipment firm Smith & Nephew plc, paving the way for a class action lawsuit to proceed in Alberta. In 2015, the Alberta Court of Queen’s Bench denied an…
Canadian auto sales to edge down in 2017: Scotiabank
February 7, 2017 by Canadian UnderwriterCanadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich…
AXIS Capital reports net income of US$131 million for Q4 2016
February 6, 2017 by Canadian UnderwriterPembroke, Bermuda-based AXIS Capital Holdings Limited has reported a net income available to common shareholders for the fourth quarter of 2016 of US$131 million, comparable to a net income of US$135 million for the fourth quarter of 2015. Net income…
Burlington, Airdrie city officials share lessons from 2014 weather disasters
February 2, 2017 Greg Meckbach, Associate EditorA rain storm in Burlington, Ont. during the summer of 2014 prompted officials from the upper tier of municipal government to take measures to address flood risk on homeowners’ properties, a speaker told insurance professionals at a conference Thursday. On…
Claims in Action
February 2, 2017 Pat Van Bakel, Chief Executive Officer, Crawford CanadaThe scale and complexity of the Fort McMurray wildfire sparked a multitude of claims issues for the insurance industry as a whole. But a concerted effort by all stakeholders helped insurers address the many and unique challenges in the aftermath of the record loss.
2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie
February 1, 2017 by Angela Stelmakowich2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification…
Global economy to post best performance in three years, Canadian growth to accelerate over next two years: Scotiabank
January 17, 2017 by Canadian UnderwriterThe global economy is projected to post its best performance this year since 2014, while growth in Canada in expected to accelerate over the next two years, according to Scotiabank’s Global Outlook, published on Tuesday. While geopolitical risks abound, recent…
Alberta Energy Resources Conservation Board immune from $50,000 lawsuit alleging Charter rights violations: Supreme Court
January 16, 2017 by Canadian UnderwriterLaws that shield quasi-judicial decision makers and public inquiry officials from personal damages claims are meant to protect their impartiality, a Supreme Court of Canada judge suggested in a ruling released Friday. Jessica Ernst sought a remedy of $50,000 from…
Severe weather, nat-cats cause record insurable damage in Canada: IBC/CatIQ
January 6, 2017 by Canadian UnderwriterSevere weather last year exacted a heavy toll in terms of insured losses, with the $4.9 billion hit dwarfing the previous annual record of $3.2 billion in 2013, Insurance Bureau of Canada (IBC) reports. Flooding in southern Alberta and the…
Alberta minister says province ‘still standing’ on Day 2 of carbon tax
January 3, 2017 Rob Drinkwater - THE CANADIAN PRESSEDMONTON – Alberta Environment Minister Shannon Phillips said the province was “still standing” a day after its carbon tax took effect, and Albertans who opposed the levy could start seeing rebate cheques within days. But Opposition Wildrose critic Don MacIntyre…
Beyond Fort Mac
January 1, 2017 Tom Johansmeyer, Assistant Vice President, PCS Strategy and Development; and Ted Gregory, Director of PCS Operations, Verisk Insurance SolutionsProperty Claim Services Canada has designated nine catastrophe events in Canada in 2016. Though most of the $4.9 billion insured loss arose from the Alberta wildfires, the data indicates hail and thunderstorms events are becoming more severe.
Transport Canada launches drone safety initiatives, including online incident-reporting tool
December 21, 2016 by Canadian UnderwriterTransport Canada announced on Wednesday that it has launched a number of initiatives aimed at drone safety, including a “new incident-reporting tool to keep Canadians safe from reckless drone use.” Kate Young, Member of Parliament for London West and parliamentary…