Ontario flooding a “wakeup call” for homeowners to check their policies: IBC
February 27, 2018 by Greg MeckbachOngoing flooding issues in southern Ontario are a “wakeup call” that homeowners should be reviewing their water damage coverage, Insurance Bureau of Canada (IBC) cautions. Several communities, including Brantford, Chatham and London, experienced flooding due to mild temperatures and several…
Cataclysmic hailstorm could cause up to $13.5 billion in damage: ICLR report
February 14, 2018 by David GambrillIn a low-probability, worst case scenario, a single major hailstorm in Canada could result in insurance claims of up to $13.5 billion, according to a new research paper from the Institute for Catastrophic Loss Reduction (ICLR). “Of concern is that…
Home inspector out $13,000 for leaky foundation advice
January 25, 2018 by Greg MeckbachA home inspector was successfully sued for more than $13,000 in British Columbia for not advising buyers of a leaking Chilliwack home to fix foundation cracks. In a ruling released Monday, Provincial Court of British Columbia Justice Kenneth Skilnick ruled…
Condo insurance: who’s responsible for dryer vent condensation?
November 30, 2017 by Canadian UnderwriterA strata corporation is partly on the hook for water damage to a condo unit arising from a buildup of water in a dryer vent, but there is no indication the damage is covered by the strata company’s insurance. Adding…
Property Loss Update: A review of recent cases, Part 2
November 17, 2017 Glenn GibsonThis is Part 2 of the property loss review that began in the Feb-Mar issue of Claims Canada. Carter et al V. Intact Insurance Company, Ontario Court of Appeal, December 6, 2016 On March 16, 2011 a fire caused…
Property Loss Update: A review of recent cases, Part 1
November 3, 2017 Glenn GibsonThere have been a number of very important cases in recent months involving coverage issues, which are worthy of note. The Supreme Court of Canada has now become involved in trying to clarify the process that should be followed in…
Quality of construction workmanship a major factor in water losses: RSA Canada CEO
October 27, 2017 Greg Meckbach, Associate EditorAging infrastructure and deteriorating construction standards are among the “major factors” leading to the challenges Canadian property insurers face when dealing with water losses, brokers heard Thursday during the CEO Panel at the Insurance Brokers Association of Ontario convention. “The…
Insured property loss estimate for Tropical Cyclone Debbie in Australia up to AU$1.7 billion: PERILS
September 28, 2017 by Canadian UnderwriterPERILS AG has upped its estimate of the property insurance market loss for Tropical Cyclone Debbie, which affected the Australian states of Queensland and New South Wales this spring, to just shy of AU$1.7 billion. The Zurich-based organization’s third loss…
37% of Quebec tenants have no home insurance: IBC survey
September 6, 2017 by Canadian UnderwriterNearly four in 10 tenants in Quebec have no home insurance, “a regrettable situation that clearly puts their financial security at risk,” the Insurance Bureau of Canada (IBC) said in a press release on Wednesday. A survey completed for IBC…
Need for building code upgrades ‘did not come about’ due to ice damage: Alberta court
August 14, 2017 by Canadian UnderwriterThe Supreme Court of Canada will not be hearing an appeal from an Edmonton shopping mall owner, whose award – of more than $500,000 against insurers, arising from a disputed claim involving building code upgrades – was reversed on appeal.…
Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR
August 9, 2017 by Canadian UnderwriterIn a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk…
New State Farm Canada app includes telematics and water detection programs, account access
June 5, 2017 by Canadian UnderwriterState Farm Canada announced on Monday that it has released a new app that includes telematics and water detection programs, as well as easy account access. The free State Farm Canada App, available on Apple’s App Store and Google Play,…