LAZARE, Man. – CN is still tallying up the amount of oil spilled in a train derailment on a ranch in western Manitoba. “We are still determining volume estimates at this time,” company spokesman Jonathan Abecassis said in an email…
A tough Lloyd’s market and California’s worst-ever wildfire led to an underwriting loss for Brit Plc, which Toronto-based Fairfax Financial Holdings Ltd. acquired in 2015. Fairfax officials faced pointed questions during its recent earnings call from one analyst who suggested…
Your clients have a lot to learn about trip cancellation insurance. Almost two-thirds of Canadians either don’t buy or are unsure if they have trip cancellation insurance before leaving on holiday, according to a recent study of 960 Canadians by…
With its recent acquisition of getClarity, Opta Information Intelligence is expanding into the area of customer and prospect behaviour. Opta is Canada’s largest property data aggregator and a provider of risk intelligence and loss control services. Its solutions include iClarify…
SAN FRANCISCO – A U.S. judge who has berated Pacific Gas & Electric Corp. for its role in California wildfires demanded Thursday that the utility answer more questions about its efforts to clear trees and branches that can fall on…
Nearly two dozen homes were damaged after one fatal incident Sunday near Toronto. An explosion demolished a house in Caledon, killing Joseph Westcott and damaging neighbouring properties, The Canadian Press reported. About 22 homes were “damaged to varying degrees,” Andrea…
CALEDON, Ont. – A man has died and dozens were forced from their homes after an explosion completely demolished a house in Caledon, Ont., on Sunday morning, officials said as they investigated the incident. Officers were called to the home…
The claims industry in Canada has to be wary about complicating the claims process by putting a “human process” in place where one is not needed, speakers said last week at the Ontario Insurance Adjusters Association’s 2019 Claims Conference in…
As market conditions start to become more challenging in personal home, auto and commercial property lines, how can carriers and brokerages maintain a healthy, profitable book of business? “To me, there are three possible strategies,” says Greg McCutcheon, president of…
The Institute for Catastrophic Loss Reduction (ICLR) and Insurance Bureau of Canada (IBC) want to restore direct insurance industry involvement in the building code process. “At some point in the distant past, perhaps four decades ago or more, the Canadian…
Ontario auto insurance rates increased by an average of 3.35% in the fourth quarter of 2018, with several companies receiving approval for double-digit rate increases, the province’s regulator reported. Overall, 23 insurers representing approximately 51% of the market based on…
Globally, the protection gap in 2018 shrunk to 60% – the lowest level it has been in 14 years, according to a new report on global catastrophes by Aon plc. Extreme weather drove the majority of the globe’s $225-billion worth…