Claims
HALIFAX – A tropical storm that has lashed parts of the eastern United States should be diminished in strength by the time it reaches eastern Canada, the Canadian Hurricane Centre says. Centre forecaster Chris Fogarty said that Isaias was on track to enter eastern Quebec through Maine late Tuesday into Wednesday. “As it moves north […]
By The Canadian Press | August 4, 2020
2 min read
The Co-operators has to pay a Mississauga banquet hall facility nearly $1 million – about double the amount it originally paid on a sewer backup policy – for losses arising from an historic 2013 rain storm, the Court of Appeal for Ontario has ruled. In a decision released July 28, the court overturned a 2019 […]
By Greg Meckbach | July 31, 2020
5 min read
Swiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent analysis of our businesses, and recognizing the inherent uncertainty of the ongoing pandemic, we expect […]
By David Gambrill | July 31, 2020
If you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in personal property was 88.6% during the three months ending June 30, an 11-point improvement from […]
3 min read
KAMLOOPS, B.C. – A university located in the heart of one of British Columbia’s most volatile forest fire regions will lead new research in wildfire prediction, prevention and response. Thompson Rivers University in Kamloops was chosen for the research that will improve abilities to forecast, prevent and respond to wildfire emergencies, Forest Minister Doug Donaldson […]
By The Canadian Press | July 31, 2020
A coverage dispute lawsuit filed in Ontario mistakenly alleges that TD General Insurance writes business interruption coverage, the insurer says. A proposed Ontario class action filed July 6 alleges TD and dozens of other insurers are in breach of contract for refusing to pay out on business interruption claims arising from the COVID-19 pandemic. Allegations […]
By Greg Meckbach | July 30, 2020
FM Global is raising concerns about companies that don’t practice flood mitigation on their properties, warning that flooding perils decrease an organization’s value by 5% a year after the event. Investors will have their confidence shaken regarding the company’s decision-making at the highest level, the commercial property insurer adds. And rather than focusing on the […]
By Adam Malik | July 29, 2020
When the next huge earthquake hits British Columbia, some independent adjusting firms may temporarily re-locate offices inland, perhaps even as far east as Alberta. Kernaghan Adjusters is aiming to be “up and running fairly quickly if we get into an infrastructure problem from an earthquake,” said Debbie Halstead, the independent adjusting firm’s Vancouver Island manager. […]
By Greg Meckbach | July 29, 2020
CALGARY – The Canada Energy Regulator is fining Trans-Northern Pipelines $40,000 for an incident near a commuter train line in Greater Toronto that resulted in damage to a pipeline transporting gasoline. It says the incident near Oakville could potentially have resulted in fatalities and injuries because the pipeline is located just 35 metres from rail […]
By The Canadian Press | July 29, 2020
A driver in B.C. is out $1,777 for incorrectly telling the public auto insurer that damage to his parked vehicle was the result of a “hit-and-run,” as opposed to collision damage. Jiameng Wang took Insurance Corporation of British Columbia (ICBC) to small claims court to pay for damage to his car, arguing that the insurer […]
By David Gambrill | July 28, 2020
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.
