Claims
Bernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store
By Greg Meckbach, Associate Editor | October 3, 2020
5 min read
By the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO Charles Brindamour suggests. The Intact Centre on Climate Adaptation, which is part of the University […]
By Greg Meckbach | October 2, 2020
2 min read
A proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing nine of the 12 members of CoreLogic’s board of directors. Along with Las Vegas-based Cannae […]
By Greg Meckbach | October 1, 2020
3 min read
British Columbia car rental companies that provide mud and snow tires in December or January are keeping the province’s Civil Resolution Tribunal busy. In Fraser v. ICBC, released Wednesday, the CRT ruled against a claimant who sought $5,000 in damages because the rental car that her insurer provided this past November was lacking winter tires […]
If your clients are looking for business interruption coverage arising from the pandemic, a key question is whether there is a “trends clause” in their policy. “In policies with trends clauses, the calculation of loss of business income must take into account external factors that would potentially impact the future economic performance,” said Eric Charleston, […]
By Greg Meckbach | September 30, 2020
A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do, an Insurance Bureau of Canada official predicts. In a 2019 paper, IBC proposed three possible […]
By Greg Meckbach | September 29, 2020
The economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said during the recent Bloomberg Canadian Fixed Income Conference. A panel of insurer executives was asked […]
British Columbia’s civil resolution tribunal has ruled against a motorist who claims the car he rented did not have proper winter tires because they were marked “mud + snow,” but the motorist is not liable for alleged damage to the rental car. After Stuart Finnegan rented a car from Terrace Motors Ltd. on Jan. 20, […]
By Greg Meckbach | September 28, 2020
A motor vehicle personal injury lawsuit, involving Ontario’s family protection endorsement and multiple defendants when alcohol is involved, could be headed to the Supreme Court of Canada. A key question before the top court — if it decides to hear Tuffnail v. Weekes — is what happens when an injured plaintiff wins a lawsuit against […]
By Greg Meckbach | September 25, 2020
Discussions around providing pandemic coverage in the future are highlighting the need to develop a Canadian federal government backstop for other serious “tail risk” events such as earthquakes, floods and wildfires, says the president of the Property and Casualty Insurance Compensation Corporation (PACICC). PACICC protects eligible insurance policyholders from undue financial loss in the event […]
By David Gambrill | September 25, 2020
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