Claims
The verdict in the British Financial Conduct Authority’s business interruption test case could have an impact outside of Britain, one credit rating agency warns, but Canada’s largest carrier appears to be largely unaffected. The vast majority of Intact Financial Corp.’s business interruption policies are significantly different from the wordings at issues in The Financial Conduct […]
By Greg Meckbach | September 17, 2020
3 min read
There is an old saying: ‘Fool me once, shame on you. Fool me twice, shame on me.’ As schools across the nation re-open, and as COVID-19 virus infection rates across Canada once again begin to climb, Canadian P&C industry observers are keeping a watchful eye on their clients’ liability exposures. The risks related to re-opening […]
By David Gambrill | September 15, 2020
If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the other is not, the High Court of England and Wales has found in a much-anticipated […]
By Greg Meckbach | September 15, 2020
4 min read
British Columbia’s courts need to take a close look at the question of whether the province has a tort for breach of privacy, an appeal court judge suggested in a recent decision arising from a data breach at a Vancouver-based financial institution. “Today, personal data has assumed a critical role in people’s lives, and a […]
By Greg Meckbach | September 14, 2020
Water is the primary reason for rising commercial property claims costs and experts are putting the blame squarely on one major issue: Deteriorating infrastructure. Some industry experts say a sharp increase in water damage caused by aging and inadequate pipes is actually costing the industry much more per year than natural catastrophes. “About $4-$6 billion […]
By Adam Malik | September 14, 2020
Lawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under D&O policies for privately-held insureds, said Dan Lewis, Gallagher’s management liability practice leader for Canada, in […]
By Greg Meckbach | September 11, 2020
The Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in 2018 to 80.3% last year, A.M. Best said in its annual report on the state […]
2 min read
Four Alberta catastrophes this year have cost insurers a grand total of about $2 billion, the Insurance Bureau of Canada confirmed this week. A hailstorm June 13, affecting mainly northeast Calgary, topped the list as it caused about $1.2 billion in insured damages. Quoting Catastrophe Indices and Quantification Inc. (CatIQ), IBC noted Tuesday that April […]
By Greg Meckbach | September 10, 2020
A $15-million defamation lawsuit by an insurers’ medical examiner against an Ontario-based personal injury lawyer is going to trial, the Supreme Court of Canada announced in a divided ruling released Thursday. Dr. Howard Platnick “deserves to have his day in court to potentially vindicate his reputation,” Justice Suzanne Côté wrote for the majority in Bent […]
Something needs to be done to make it easier to let Canadian claims adjusters work outside their home province in the event of a disaster, speakers suggested on a recent webinar. “It’s generally understood that it’s easier to bring U.S. adjusters up to Canada than it is to bring adjuster across provincial boundaries in the […]
By Greg Meckbach | September 9, 2020
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