Claims
Editor’s Note: A previous verison of this article incorrectly stated that a cyberattack against AXA had happened after AXA’s announcement that it was suspecnding insurance coverage in France for ransomeware extortion payments. In fact, as per a Financial Times report in May 16, the ransomware attack happened before AXA’s decision to change its approach, a […]
By David Gambrill | May 30, 2021
3 min read
Restoration firm DKI Canada Ltd. is being sued in British Columbia by Coquitlam-based Canstar Restorations Limited Partnership, a former member of the DKI network. Allegations in the lawsuit have not been proven in court. Until 2020, Canstar was operating multiple DKI restoration locations in B.C. Canstar approached DKI to discuss expanding into Calgary, Supreme Court […]
By Greg Meckbach | May 30, 2021
4 min read
Ontario auto insurance claimants cannot take insurers directly to court over how carriers treat sales tax on accident benefits claims, the province’s appeal court has ruled. This is because the province’s Licence Appeal Tribunal, not the Superior Court of Justice, has exclusive jurisdiction over auto accident benefits disputes, the Court of Appeal for Ontario found […]
By Greg Meckbach | May 27, 2021
More damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman, an independent researcher and formerly senior scientist with the B.C. Oil and Gas Commission. “There […]
By Jason Contant | May 26, 2021
If insurers can achieve combined ratios of less than 80% in personal property, homeowners should expect to see lower prices and possibly even rebates, the CEO of LowestRates.ca suggests. “For consumers, if insurance companies are making money, then it means it is a competitive marketplace, it’s a healthy marketplace and it is a marketplace where […]
By Greg Meckbach | May 25, 2021
2 min read
FAIRMONT HOT SPRINGS, B.C. – An evacuation alert has been issued for more than 200 homes and businesses in southeastern British Columbia as a weekend downpour and the likelihood of more rain raise the potential for flooding in the Fairmont area. The Regional District of East Kootenay issued the alert late Monday for 229 properties […]
By The Canadian Press | May 25, 2021
1 min read
The cost of cleaning up after spills of petroleum, oil, or other contaminants may not be covered under your client’s liability or property policy, a managing general agent warns. Many clients are exposed to pollution risk but are not necessarily aware of it, said Christine Nauth, assistant vice president for Strategic Underwriting Managers Inc. Examples […]
By Greg Meckbach | May 21, 2021
The long-tail nature of auto bodily injury claims, in addition to insurers’ fixed claims adjustment costs, are among the reasons why insurers are not likely going to reduce auto premiums in proportion to the drop in driving observed during COVID-19. “I think that the market is not headed for an ongoing rate reduction,” Intact Financial […]
CALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of the university’s School of Public Policy. “Landowners got the short end of these burdens that […]
By The Canadian Press | May 20, 2021
Ontario’s Licence Appeal Tribunal (LAT) has ruled that Intact Insurance is not obligated to fund a claimant’s $10,200 multidisciplinary report, the purpose of which was to dispute Intact’s decision to cease income replacement benefits after a 104-week period of entitlement. The claimant, Mark Green, was involved in an auto collision on Mar. 29, 2016. Intact […]
By David Gambrill | May 17, 2021
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
