Claims
A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000 – and there is a claim, the condo building or strata typically does not have […]
By Greg Meckbach | February 16, 2021
3 min read
A record-keeping blunder more than 50 years ago means London, Ont.’s Catholic diocese faces a new multi-million-dollar lawsuit over sexual abuse during the early 1970s of an elementary school student by a priest. The Supreme Court of Canada announced Feb. 11 it will not hear an appeal by the Roman Catholic Episcopal Corporation of the […]
By Canadian Underwriter | February 16, 2021
4 min read
The COVID-19 pandemic has created some barriers to repairing vehicle and property damage – including a shortage of auto body parts, and a labour shortage impacted by Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work, panelists said Wednesday during CatIQ Connect’s February webinar. The COVID-19 pandemic had made it more […]
By Greg Meckbach | February 12, 2021
A Supreme Court of Canada decision released Thursday means The Co-operators cannot appeal a $429,000 court decision against it over “surface water” coverage on a commercial property policy. In Co-operators General Insurance Company v. Le Treport Wedding & Convention Centre Ltd., released July 28 2020, the Court of Appeal for Ontario ruled that The Co-operators […]
Intact Financial Corp. has now reserved $106 million for claims related to COVID-19, with $23 million of that booked during the last three months of 2020. Intact initially set aside $83 million in reserves for COVID-19 claims during the three months ending Mar. 31, 2020, shortly after the disease was declared a global pandemic. Now […]
By Greg Meckbach | February 10, 2021
VANCOUVER – A Catholic order shuffled known abusers from a notorious Newfoundland orphanage to two schools in the Vancouver area where more boys were victimized, a lawsuit alleges. A proposed class-action suit filed Monday in British Columbia Supreme Court says between 1976 and 1983, an order called the Christian Brothers transferred six abusive members from […]
By Jason Contant | February 10, 2021
5 min read
Commercial insurers are taking a good look at their exposure to widespread cyber events and some are forming partnerships with tech vendors in the hopes of improving their clients’ cyber risk management. “The next pandemic – the exposure that looks like a virus – is cyber-related because it has no geographic or time boundary to […]
By Greg Meckbach | February 9, 2021
2 min read
An Ontario-based restaurant company whose sales dropped more than 50% during the pandemic may be taking legal action against its business interruption insurer. In a recent securities filing, SIR Royalty Income Fund said its business interruption claim from the COVID-19 pandemic was denied. Burlington, Ont.-based Serviced Inspired Restaurants (SIR) has more than 50 eateries in […]
Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction (ICLR), has received the Joseph Scanlon Lifetime Achievement Award from the Canadian Risk and Hazards Network (CRHNet). CRHNet is a not-for-profit organization established in 2003 to share hazards research and promote and strengthen disaster risk reduction and emergency management in Canada. Kovacs received CRHNet’s […]
By David Gambrill | February 8, 2021
A Saskatchewan motorist who pleaded guilty to impaired driving cannot be sued in the province by victims of a hit-and-run accident that happened in Saskatoon a few hours before the inebriated motorist was pulled over and arrested by police. This is the result of a Supreme Court of Canada decision released Thursday. Unlike some other […]
By Greg Meckbach | February 5, 2021
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