Litigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20%…
If your client makes or supplies beauty care products, they could face bodily injury lawsuits if certain chemicals are present. The “toxic trio” – dibutyl phthalate (DBP), toluene and formaldehyde – are contained in some nail varnishes, body lotions, fragrances…
There is a possibility that a third-party claim against a door installation company – whose subcontractor was injured on the job and was not covered by the Alberta Workers’ Compensation Board – falls under a commercial general liability policy, a…
The family of a Montreal woman murdered in 2010 is not barred, by the six-month prescriptive period in Quebec’s Cities and Towns Act, from suing the city, the Supreme Court of Canada suggested in a ruling released Friday. In the…
The British Columbia government has options at its disposal to address auto insurance problems in the province – ranging from leaving the Insurance Corporation of B.C. (ICBC) to shuttering the insurer – but all should include reintroduction of competition, concludes a new report commissioned by the Canadian Taxpayers Federation (CTF). CTF argues that “fast and furious changes” are needed in light of the “looming 30% hike to car insurance,” a figure noted in an Ernst & Young LLP (E&Y) report made public last month. Among its many observations, the…
An agile and flexible response by all parties is needed in light of the new and little-understood risks expected to emerge with the anticipated increase in drone activity over the next few years, SCOR experts write in a recent technical…
Bermuda-based Ironshore Specialty Casualty has enhanced its Transition Protection policy form to address contractual exposures associated with an organizational merger or acquisition (M&A) specific to the construction industry. Construction companies typically have contractual requirements to obtain insurance coverage for work…
Bodily injury and property damage exclusions in cyber insurance policies means the Internet of Things has “big implications” for organizations, while malware that existed unbeknownst to a user before binding a policy can mean a cyber incident is not covered,…
Manitoba Public Insurance (MPI) has recorded a net loss for the first nine months of its fiscal year ending Nov. 30, 2016, compared to posting net earnings for the same period one year earlier. MPI saw a net loss of…
Brokers should expect personal automobile insurance to be “much more difficult” for their carriers, while a new definition of catastrophic impairment in Ontario was the most important change the province made effective June, 2016, the president of Intact Insurance suggested…
The Supreme Court of British Columbia, in reviewing a typical family exclusion contained in homeowner policies, took the rare step of drafting an exclusion that would have been effective in the case at issue. The court’s views and language should be of interest to all underwriters of Canadian homeowner policies.