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Magnitude of U.K.’s Grenfell Tower fire was preventable: FM Global

October 5, 2017 by Canadian Underwriter

The magnitude of the fire that engulfed London’s Grenfell Tower in June was preventable, according to a newly released whitepaper from FM Global, one of the world’s largest business property insurers. On June 14, a massive fire broke out in

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37% of Quebec tenants have no home insurance: IBC survey

September 6, 2017 by Canadian Underwriter

Nearly four in 10 tenants in Quebec have no home insurance, “a regrettable situation that clearly puts their financial security at risk,” the Insurance Bureau of Canada (IBC) said in a press release on Wednesday. A survey completed for IBC

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Tenant’s insurer not liable for subrogated home fire claim arising from vehicle repair

August 18, 2017 by Canadian Underwriter

A subrogated fire claim – arising from a tenant repairing his vehicle at home – is excluded from the tenant’s home policy because the fire arose from “use” of a motor vehicle, an Ontario court recently ruled. In June, 2007,

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Economic growth blows past expectations in May, powered by energy industry

July 28, 2017 Craig Wong - THE CANADIAN PRESS

OTTAWA – Economic growth in the country blew past expectations in May, powered by the energy sector, raising expectations that the Bank of Canada will raise interest rates again this fall. Statistics Canada said Friday that real gross domestic product

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

SCOR posts net income of 292 million euros for the first half of 2017

July 27, 2017 by Canadian Underwriter

French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for

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“Extension cord mess” cited in fire that killed N.B. mother, three sons

July 26, 2017 The Canadian Press (CPSTF)

ST. GEORGE, N.B. – Fire investigators say a mess of extension cords and power bars, as well as the failure of an electrical component, were likely to blame for a fire that killed a New Brunswick woman and her three

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Commercial lease did not ‘expressly preserve’ right of landlord to pursue subrogated fire claim against tenant: Court

July 7, 2017 by Canadian Underwriter

The owner of a commercial building damaged by fire that started in a restaurant kitchen is precluded from pursuing a subrogated claim against the restaurant operator due to a clause in the lease requiring the landlord to buy fire insurance,

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Fire destroys N.L. apartment complex, leaves dozens homeless in St. John’s

June 27, 2017 The Canadian Press (CPSTF)

JOHN’S, N.L. – A massive, fast-moving fire at a public housing complex has forced about 35 people out of their homes in a blaze that sent large plumes of smoke billowing above St. John’s, N.L. Fire platoon Chief Brian Tucker

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Number of lightning-related homeowners insurance claims in the U.S. up in 2016, but average cost for insurers down: I.I.I.

June 16, 2017 by Canadian Underwriter

The number of homeowners insurance claims from lightning strikes and electrical surges in the United States rose in 2016, compared with 2015, but the average cost that insurers paid on those claims fell, according to a new analysis by the

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Cladding may have helped spread London high rise fire, experts say

June 15, 2017 Gregory Katz - THE ASSOCIATED PRESS

LONDON – The official cause may not be known for months. The death toll is unclear – and rising. No one has said exactly where the fire started. But experts suspect recent renovations at the Grenfell Tower, including newly installed

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Six killed, 74 injured in massive London, U.K. high rise blaze

June 14, 2017 Gregory Katz and Danica Kirka - THE ASSOCIATED PRESS

LONDON – A deadly overnight fire raced through a 24-story apartment tower in London on Wednesday, killing at least six people and injuring 74 others. One desperate woman threw a baby out of a high window and a man on

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Large fire destroys lone grocery store in small, central New Brunswick town

June 5, 2017 The Canadian Press

MINTO, N.B. – A large fire that produced plumes of smoke that could be seen several kilometres away has destroyed a New Brunswick community’s only grocery store. RCMP Cpl. Kevin Jones said the Foodland on Main Street in Minto burned