Ontario-based Pen Underwriting Canada launches cyber insurance product
February 15, 2017 by Canadian UnderwriterBurlington, Ont.-based Pen Underwriting Canada Limited announced on Wednesday that it has created a comprehensive cyber solution to respond to the “increasing threat that cybercrime poses for corporations.” Backed by A+ rated capacity, the specialist cyber product is designed for…
Lawsuit filed in connection to explosion in Fort McMurray fire aftermath
February 13, 2017 The Canadian PressFORT MCMURRAY, Alta. – A proposed class-action lawsuit has been filed against natural gas company Atco (TSE:ACO.X) in an explosion last May that damaged several homes in Fort McMurray, Alta. The blast took place in the Dickinsfield neighbourhood while the…
Environmental Losses Related to Transportation Claims
February 10, 2017 Joel van Popta, Senior Associate, -30- Forensic Engineering.The release of pollutants such as fuel, motor oil or lubricants, coolant or brake fluid can cause environmental impairment in the event of a trucking collision
Armed forces deployed to hardest hit areas in the wake of N.B. storm: premier
January 30, 2017 Adina Bresge - THE CANADIAN PRESSSHIPPAGAN, N.B. – New Brunswick’s premier says the military is sending between 100 and 150 troops to help with recovery efforts in the areas that have been hardest hit by last week’s ice storm. Brian Gallant told a news conference…
Government of Alberta announces additional $45 million for flood and drought protection
December 19, 2016 by Canadian UnderwriterThe government of Alberta has announced an additional $45 million in funding for flood and drought protection. Over the next four years, the government will invest an additional $31 million in the Alberta Community Resilience Program (ACRP) and $14 million…
The Boiler Inspection and Insurance Company of Canada launches new equipment breakdown insurance coverages for small businesses
November 7, 2016 by Canadian UnderwriterThe Boiler Inspection and Insurance Company of Canada (HSB BI&I) has launched a new comprehensive equipment breakdown insurance package – All Systems Go Plus, with new TechAdvantage coverages, designed for small businesses in Canada. Launched last week, the All Systems…
Coastal wetlands prevented more than US$625 million in property damages during Hurricane Sandy in 2012: report
October 25, 2016 by Canadian UnderwriterMore than US$625 million in property damages were prevented during Hurricane Sandy in 2012 by coastal wetlands along the coast northeast coast of the United States, according to a new report released on Tuesday. Using the latest modelling techniques, scientists…
B.C. government invests $2.5-million to address flood risk in Peace Region after June flooding
October 11, 2016 by Canadian UnderwriterAbout four months after a “substantive rainfall event” that lead to flooding in British Columbia’s Peace Region, the provincial government announced that it is providing $2.5 million to the Peace River Regional District (PRRD) to undertake debris removal and preventative…
Commercial insurers in Canada face challenges, opportunities: Kadow
September 12, 2016 Angela Stelmakowich, EditorCALGARY — Current trends around ownership of brokers by insurers is “basically leaving the mid- to large end of the commercial market to fight over,” Ulrich Kadow, chief agent, Canada for Allianz Global Corporate & Specialty Americas (AGCS), said in…
PACICC warns of ‘risk of financial contagion’ if earthquake losses exceed $30 billion
September 6, 2016 by Canadian UnderwriterProperty and Casualty Insurance Compensation Corp. is urging federal finance minister Bill Morneau to “carefully look” at recommendations made last month in a C.D. Howe Institute report, including a suggestion that Ottawa make arrangements to provide financial assistance to PACICC…
Cleaning Up After the Beast
September 2, 2016 Emily Atkins, EditorA hail of glowing embers bounces off the hood of the pickup creeping in gridlocked traffic. Headlights can’t penetrate the billows of greasy smoke swirling in a hot, heavy wind. As the camera pans, pine trees barely a car-length away…
Allianz Global Corporate & Specialty launches cyber and professional liability coverage for North America
August 4, 2016 by Canadian UnderwriterAllianz Global Corporate & Specialty (AGCS) has announced the launch of a new cyber and professional liability coverage product designed exclusively for the North American market. Featuring a streamlined form structure with flexible terms, ACCEPT Protect is the “first of…