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Second-generation cyber policies tackle personal injury, property damage

January 11, 2018 by Jason Contant

Cyber insurance policies are now evolving to the point where they are starting to tackle personal injury and property damage, Brian Rosenbaum, national director, legal and research practice with Aon Risk Solutions Canada, told Canadian Underwriter on Tuesday. Known in

News ClaimsInsuranceMarkets / Coverages

New Brunswick moves to protect innocent co-insureds

December 7, 2017 by Canadian Underwriter

New Brunswick tabled amendments to the province’s Insurance Act Wednesday to protect innocent co-insureds in cases of intimate partner violence and property damage. Most home insurance policies exclude payment for loss or damage caused by an intentional or criminal act

News CatastrophesInsuranceMergers and Aqcuisitions

Authorities confirm tornado hit Quebec town as cleanup operations continue

August 24, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Environment Canada says a tornado touched down in a Quebec town during intense thunderstorms that caused considerable damage in different parts of the province, including the felling of century-old trees in Montreal. Meteorologist Amelie Bertrand said Wednesday a team dispatched to Lachute confirmed an EF-1 tornado with winds reaching about 175 km/h struck in the town about 85 kilometres north of Montreal.

Bertrand said an EF-1 tornado can cause wind gusts ranging from about 135 to 175 km/h, placing Tuesday’s tornado at the higher end of…

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Cleanup underway after severe storm with heavy winds rips through Montreal area

August 23, 2017 Sidhartha Banerjee - THE CANADIAN PRESS

MONTREAL – Crews began cleaning up in Quebec on Wednesday after a suspected tornado hit one town and severe thunderstorms ripped through other parts of the province, felling century-old trees in one Montreal neighbourhood. The Montreal area and the Laurentian

News Insurance

Big increase in U.K. start-ups, but insurance coverage lacking for many small businesses

August 18, 2017 by Canadian Underwriter

A new survey out of the U.K. shows that self-employment is racing forward, but moves by small businesses to ensure they have insurance in place to address whatever risks may arise is lagging far behind. A wider spectrum of small

News CatastrophesInsuranceLegislation / RegulationMergers and Aqcuisitions

Modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage compared to 1992’s US$26.5 billion: Swiss Re

August 9, 2017 by Canadian Underwriter

A modern-day Hurricane Andrew would cost an estimated US$80-100 billion in economic damage, up dramatically from the US$26.5 billion cost in 1992 dollars, according to a new report from Swiss Re. The hurricane in August 1992 destroyed more than 25,000

News CatastrophesInsuranceMergers and Aqcuisitions

Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon

August 8, 2017 by Canadian Underwriter

Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,

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Insurance Corporation of B.C. financial condition ‘seriously compromised,’ Basic Autoplan needs redesign: EY

July 25, 2017 by Canadian Underwriter

The premiums charged by British Columbia’s government-run monopoly provider of basic auto insurance are “not high enough” to cover claims, the system is not sustainable and the cost of the average minor bodily injury claim has risen well beyond the

News InsuranceMarkets / Coverages

TSB reiterates call for federal regulator to audit safety management systems of Canada’s railways ‘in sufficient depth and frequency’

July 11, 2017 by Canadian Underwriter

Despite efforts by Transport Canada to audit safety management systems of federally-regulated railways, the risk associated with weak railway safety management systems is sufficient to warrant continued involvement from the Transportation Safety Board of Canada, the board suggested Tuesday. In

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Ontario government increases maximum fines for individuals, corporations that start forest fires

July 11, 2017 by Canadian Underwriter

The government of Ontario has announced increased maximum fines for individuals and corporations for starting forest fires. If found responsible, individuals can now be fined up to $25,000 for starting a forest fire, Ontario’s Ministry of Natural Resources and Forestry

News InsuranceMergers and AqcuisitionsTechnology

More drone activity anticipated, safety-first approach essential: SCOR newsletter

June 9, 2017 by Canadian Underwriter

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

News CatastrophesInsuranceMergers and Aqcuisitions

B.C.’s River Forecast Centre issues high streamflow advisory, but flooding fears beginning to ease

June 8, 2017 by Canadian Underwriter

British Columbia’s River Forecast Centre (RFC) has issued a “high streamflow advisory” for the province’s South Peace region and surrounding areas. Issued at noon on Thursday, the advisory includes South Peace region and surrounding areas, including Pine Pass and tributaries