Claims
OTTAWA – The federal government is looking beyond COVID-19 to prepare for the next large-scale calamity – be it another pandemic, a tsunami or cyberattack. In a notice posted today, Defence Research and Development Canada seeks proposals for studies, technology trials and demonstrations to identify promising ideas to lessen the severity of potential catastrophes. The […]
By The Canadian Press | March 16, 2021
1 min read
A British Columbia strata unit owner is not liable for their strata corporation’s $5,000 deductible on a property claim arising from a fire, the province’s civil resolution tribunal has ruled. The strata unit is on the fifth floor of a 22-storey building. A fire originating from their unit in 2018 caused about $300,000 in damage […]
By Greg Meckbach | March 12, 2021
3 min read
TORONTO – There were no working smoke alarms inside a Toronto house where a fire killed four people, investigators said Friday. The Office of the Fire Marshal said an electrical failure in the ceiling of the dining room in the early morning hours of Jan. 29 caused the fire. Arija Celeste survived the fire, but […]
By Jason Contant | March 12, 2021
2 min read
The hard market in home insurance is helping Canada’s largest P&C insurer make a healthy profit. But insurers need to maintain pricing discipline in personal property because weather catastrophe costs are increasing over time, suggests the chief financial officer at Intact Financial Corp. Intact reported Feb. 9 that its combined ratio in personal property improved […]
By Greg Meckbach | March 11, 2021
A subrogated claim arising from a Hamilton area home fire is raising the question of which equipment manufacturer, if any, is liable. In 2013, a fire caused extensive damage to the Ancaster, Ont., home of Mary Arlene and Rudolf Dosen. Their home contained a heat recovery ventilation unit, which is designed to bring fresh outside […]
By Greg Meckbach | March 10, 2021
A recent British court ruling on business interruption does not change the economics of Intact Financial Corp.’s agreement to acquire a large part of London-based RSA, a senior Intact official confirmed Tuesday. In 2020, the Financial Conduct Authority brought eight insurers, including RSA, to the High Court of England and Wales over 21 business interruption […]
By Greg Meckbach | March 9, 2021
Aviva plc has set an aggressive target to become a net zero carbon emissions company by 2040. “Aviva is taking bold steps to help tackle the climate crisis,” Amanda Blanc, Aviva Group’s CEO, said when announcing the 2040 Net Zero plan last week. “As the UK’s leading insurer, we have a huge responsibility to change […]
By David Gambrill | March 8, 2021
An Ontario claimant who suffered a severely disabling injury after falling off his dirt bike during a competition is entitled to accident benefits under his auto policy. This is the result of Beaudin v. Travelers Insurance Company of Canada, released Feb. 26 by a three-judge panel of the Ontario Divisional Court. Travelers had argued that […]
By Greg Meckbach | March 6, 2021
4 min read
Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance program that you have a way out,” said Alice Hill, the David M. Rubenstein senior […]
By Greg Meckbach | March 4, 2021
The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan. 15, the Supreme Court of the United Kingdom ruled largely in favour of the British […]
By Greg Meckbach | March 2, 2021
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