Keyword
replacement cost
The state of the cannabis insurance market in 2023
May 30, 2023 by Jason ContantEven though inflation cooled to 4.3% in March from a high of 8.1% last summer, its effect is still being felt on personal and commercial lines alike. The cannabis insurance market is no exception. Carriers across the board are looking…
Intact policyholder conflates ACV with replacement cost value
April 4, 2023 by David GambrillIntact recently won an appraisal dispute with an insured who originally claimed more than four times the market value of his business property after a fire, prompting the court to find the insured was conflating actual cash value (ACV) of…
Property Loss Update: A review of recent cases, Part 2
November 17, 2017 Glenn GibsonThis is Part 2 of the property loss review that began in the Feb-Mar issue of Claims Canada. Carter et al V. Intact Insurance Company, Ontario Court of Appeal, December 6, 2016 On March 16, 2011 a fire caused…
Supreme Court of Canada will not hear appeal from insureds seeking replacement cost instead of actual cash value in fire claim
June 2, 2017 by Canadian UnderwriterA disputed property insurance claim arising from a fire in Ottawa, in which the claimants asked for replacement value but the insurer would only pay actual cash value, will not be heard by the Supreme Court of Canada, the court…