Sponsors completed two catastrophe bonds with coverage for Canada in the first quarter of 2016 – the same two sponsors that did so in the first quarter of 2015, according to Property Claims Services’ (PCS) Q1 2016 cat bond report.…
A review of the ten most important insurance coverage cases of 2015
A new investigation suggests many anchor losses are avoidable and shed light on a potentially bigger issue: the need for crews to be aware of the environmental loads for which equipment is designed. A rising number of anchor losses reported…
A dispute between the Insurance Corporation of British Columbia and a woman seriously injured in a vehicle crash, arising from an intoxicated passenger grabbing the steering wheel, may reach the Supreme Court of Canada. In September, 2015, the B.C. Court…
Trillium Mutual Insurance Company has partnered with The Boiler Inspection and Insurance Company of Canada (HSB BI&I) to launch two new products for small to medium-sized commercial and agricultural operations. Providing indemnity for first-party expenses and third-party costs of defence,…
Insurance adjusters cannot always rely on legal precedents, now that the Court of Appeal for Ontario has overturned a previous decision by the same court, over the issue of a vehicle owner’s vicarious liability for negligent operation of their vehicle,…
3D printing is hardly new, but recent rapid development and seemingly endless potential uses has freshened consideration of the technology. Enhanced access and broadened applications, though, bring with them talk of additional risks and whether or not existing property and casualty insurance policies are sufficient to address how 3D printing technology could evolve in future.
Much of the world’s enriched uranium and plutonium is “too vulnerable to theft” and a cyber attack on a nuclear facility could “facilitate” either theft of nuclear material or sabotage, the Nuclear Threat Initiative warned in a recent report. “Nearly…
Berkshire Hathaway Specialty Insurance announced Monday it is offering claims-made liability coverage in Canada for professionals facing allegations of negligence, misleading statements and breach of duty, among other things. The coverage – dubbed Professional First Miscellaneous Professional Liability – will…
Catastrophe bond issuance activity by new limit fell approximately 25% year over year in 2015 to US$6 billion, while issuance of catastrophe bonds including coverage for Canada witnessed a shift, notes a new report issued Wednesday by Property Claims Services…
The standard auto policy in Ontario has an exclusion for carrying passengers for compensation or hire, and this could lead to denial of claims involving vehicles providing uberX service.
Factors affecting business interruption (BI) claims in Canada include the continued move towards just-in-time inventory delivery, lower commodity prices and risk-specific policies placed by brokers. The frequency of BI claims in Canada was consistent with experience in other countries, though in Canada in recent years, about 50% of BI claims originated from natural events.