External Considerations
January 1, 2014 Michael Teitelbaum, Partner, Hughes AmysOntario’s Divisional Court has determined the precise cause of damage arising from a fortuitous event is not required for recovery under an all-risks insurance policy. As such, the ruling proposes that a much lower threshold is required to establish coverage under these policies.
Water, Water Everywhere
November 1, 2013 Mary Kelly, Anne Kleffner and Norma NielsonFundamentally, water damage is not a peril ideally suited to be insured. That said, with the cost of water damage high and rising, the creation of a sustainable insurance coverage model requires the co-operation of insurers, personal property owners, reinsurers, regulators and governments.
Marketplace
November 1, 2013 by Canadian UnderwriterCANADIAN MARKET FSCO publishes bulletin on usage-based insurance The Financial Services Commission of Ontario (FSCO) posted a bulletin in October outlining considerations for insurers planning to offer usage-based auto insurance programs, focusing on privacy issues and data collection. The bulletin…
Overland Overhaul
August 1, 2013 Angela Stelmakowich, EditorWhile standing alone can be a point of pride, is Canada out of step with what most other G8 nations are doing when it comes to overland flooding? This flooding does occur and, no doubt, will continue to occur in light of severe weather events that seem to now be part of the norm. Is there a need for related insurance? Or should insurance be part of a fuller risk management partnership that involves participation, input and cost-sharing from all to keep losses down and uninsurable properties to a minimum?
Full Spectrum
December 2, 2012 by Canadian UnderwriterIt’s a safe bet that Canada’s property and casualty insurers are in for big changes. How dramatic those changes will be, what form they will take and when they will ultimately unfold are expected to fall on many points along the spectrum. Building on hard data and emerging trends, insurance companies are blending old with new as they prepare for all shades of risk.
Customizing Home Retrofits
July 2, 2012 Dan Sandink, Manager of Resilient Communities & Research, Institute for Catastrophic Loss ReductionFlood mitigation efforts need to account for individual differences in each home, neighbourhood and municipality.
Staying Dry
September 30, 2011 Laura KupcisReducing the risk of basement flooding is a priority for both insurance companies and municipalities.
Facing the Flood
May 31, 2011 Laura KupcisManitoba is currently bracing against the threat of flooding. That threat continues to be reduced in part due to flood prevention methods the province has established. The increase in water-related claims also brings the issue of overland flooding to the forefront.
Bridge Over Troubled Waters
January 1, 2011 Vanessa Mariga, Associate EditorAbsent funding for re-building entire infrastructures, municipalities are taking creative approaches to help curb water damage due to sewer backup and basement flooding. This opens up new opportunities for collaboration between insurers and municipalities.
Opening the Innovation Floodgates
September 1, 2010 Blair MacLeodOpinion/Analysis; Increasing water damage is going to challenge the insurance industry to become more innovative.
Taking Care Of Business: Commercial Loss Considerations
January 31, 2010 byAlthough loss investigation activities for commercial risks are similar to those for personal lines, the nature of the property is different, as are the wordings used in commercial policies. The following review takes the standard Commercial Property Broad Form as…
Washing Away Construction Damage
October 1, 2009 Mike Brown, Vice President, Senior Underwriter, Engineering, Swiss ReInsurers and risk managers can help prevent water damage to new construction projects.