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…
Totten Insurance Group acquires Canadian Resources Insurance Solutions
August 3, 2016 by Canadian UnderwriterNational insurance managing general agency Totten Insurance Group announced on Wednesday that it has acquired the shares of Canadian Resources Insurance Solutions, Inc. (CRIS), a Sudbury, Ont. based insurance wholesaler. Terms of the acquisition were not disclosed, but Hub International…
Alberta invests in flood and drought resiliency projects
July 21, 2016 by Canadian UnderwriterThe province of Alberta is investing nearly $1 million in flood and drought resiliency projects in Calgary and other communities to help protect against the effects of severe weather. Twelve organizations in southern Alberta “and other vulnerable communities across the…
Adjusting Fort McMurray’s Firestorm
July 15, 2016 Heather SandersonBusiness Interruption & Civil Authority Coverage Issues with the Fort McMurray, Alberta wildfire
SGI Canada assigning more adjusters to deal with Saskatchewan flooding claims following heavy rainfall
July 12, 2016 by Canadian UnderwriterSGI Canada will be assigning additional adjusters to Estevan, Saskatchewan – among the areas in the province hit by heavy rainfall that prompted localized flash flooding – to handle what is anticipated to be higher-than-normal claim volumes, the insurer reported…
Climate change turning the world’s bogs into fire hazards, researchers warn
June 29, 2016 by Canadian UnderwriterThe peat bogs of the world, once waterlogged repositories of dead moss, are being converted into fuel-packed fire hazards that can burn for months and generate deadly smoke, warns a researcher from McMaster University in Hamilton, Ont. New research from…
Big cleanup job underway at downtown Fort McMurray brew pub
June 5, 2016 By Lauren Krugel – THE CANADIAN PRESSFORT MCMURRAY, Alta. – On May 3, patrons at the Wood Buffalo Brewing Company on downtown Fort McMurray’s main drag had to leave their pints and plates on the table as a massive forest fire breached the city and everyone…
U.S.-based Interstate Restoration LLC completes acquisition of Canada’s FirstOnSite Restoration
June 1, 2016 by Canadian UnderwriterFt. Worth, TX-based Interstate Restoration LLC announced on Wednesday that it has completed the acquisition of FirstOnSite Restoration G.P. Inc. in Canada. As a result of the transaction, Interstate Restoration becomes a company of US$300 million annual revenues, with nearly…
Supreme Court will not hear appeal of $1.4 million pollution lawsuit
May 26, 2016 by Canadian UnderwriterCanada’s highest court announced Thursday it will not hear an appeal from a Scarborough, Ont. industrial property owner who lost a lawsuit from a neighbouring property owner arising from environmental contamination. In a ruling released Nov. 27, 2015, the Court…
Monk v. Farmers’ Mutual Insurance Co. (Lindsay): Further Lessons in Policy Language and Interpretation
May 18, 2016 Michael S. Teitelbaum, partner; and Ashley Peacock, associate Hughes AmysIntroduction In Monk v. Farmers’ Mutual Insurance Co. (Lindsay), [2015] ONCA 911, the Court of Appeal reversed the motion judge’s decision1 that the “faulty workmanship” exclusion applied to both direct and indirect damages. The Court ruled that the motion judge’s…