Keyword
liability
U.S. homeowner claims decreasing, loss costs on the decline, LexisNexis Risk Solutions study finds
October 27, 2016 by Canadian UnderwriterHomeowner claims in the United States continue to decrease and loss costs are flat or on the decline, according to a new report from LexisNexis Risk Solutions. 2016 LexisNexis Home Trends Report, the inaugural study of home insurance trends released…
Federal government reduces size of proposed emergency fund for pipeline spills
October 14, 2016 The Canadian PressCALGARY – The federal government is lowering the size of a proposed emergency fund pipeline operators would be required to have on hand to deal with short-term costs of incidents such as spills. Natural Resources Canada says the fund would…
Chubb launches product to protect Canadian companies against privacy, intellectual property, financial injury and cyber risks
October 4, 2016 by Canadian UnderwriterChubb announced on Tuesday that its Integrity+ product is now available in Canada to help protect companies from errors and omissions (E&O) liability customer lawsuits alleging that their products or services caused privacy violations, intellectual property infringements or other financial…
Ironshore adds crisis management endorsement, active shooter extension in U.S.
September 23, 2016 by Canadian UnderwriterIronshore Inc. has introduced a crisis management endorsement for all in-force, stand-alone Terrorism policies as an automatic extension so that insureds can access crisis response specialists following an act of terrorism or an active shooter event at an insured location…
OSBIE announces refund of more than $12 million to members
September 23, 2016 by Canadian UnderwriterMembers of the Ontario School Boards’ Insurance Exchange (OSBIE) will receive a record-breaking premium refund of more than $12 million thanks to a concerted focus on risk management and loss control, OSBIE announced Friday. Representing 30% of OSBIE’s annual written…
Privacy in the Sky
September 14, 2016 Laura Emmett, Partner; and Nicholas Cummings, Associate, Lerners LLPPotential Liability for Drone Operators
Frank Cowan introduces drone endorsements for liability and property policies
August 28, 2016 by Canadian UnderwriterFrank Cowan Company announced on Friday that its liability and property policies can now be enhanced with endorsements to cover drones. The Princeton, Ont.-based managing general agent said in a statement that the drone/unmanned aerial vehicle (UAV) coverage “is intended…
Supreme Court of Canada to hear $5.4-million conversion lawsuit against banks arising from plaintiff’s employee’s cheque fraud
August 19, 2016 by Canadian UnderwriterA $5.4-million lawsuit – initially filed against four Canadian banks – arising from fraudulent cheques requisitioned by the plaintiff’s employee, will be heard by the Supreme Court of Canada. Canada’s highest court announced Thursday it granted leave to appeal to…
Global market for professional indemnity insurance expected to reach US$40.5 billion by 2019: Finaccord
August 3, 2016 by Canadian UnderwriterThe global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the…
Drivers still liable in accidents, even in near driverless cars, says Canadian law firm Borden Ladner Gervais
August 2, 2016 Terry Pedwell - THE CANADIAN PRESSOTTAWA – Until Canadians own cars that truly drive themselves, they can forget getting off the legal hook if they’re in an accident with a vehicle that still has a steering wheel, suggests a report from Canada’s biggest law firm.…
Double Duty
August 1, 2016 Hollis Bromley, Partner, Alexander Holburn Beaudin + Lang LLPA recent ruling out of British Columbia reviewed the duty to defend in the context of forced labour and slavery allegations. The case addresses a number of weighty coverage considerations, including the “mere possibility” test and derivative pleadings.
Flood Risk Canada launches live flood sensory system
July 29, 2016 by Canadian UnderwriterFlood Risk Canada, Inc. (FRC) has announced that it will be launching a new flood risk monitoring and prevention tool called “flood sensory system.” Deployed in floodways, the system monitors and alerts on the current water level activity, wind speed…