Claims
Toxic gas leaks may not happen often in Canada but if it happens to your client, it can result in a large third-party liability claim, a managing general agent warns. A styrene gas leak from an LG Polymers in India earlier this month killed 12 and sent more than 300 to the hospital, the Associated […]
By Greg Meckbach | May 26, 2020
2 min read
A bar found 20% liable for an impaired driving accident has to pay two-thirds of the plaintiff’s legal costs and wound up paying double for damages what the at-fault motorist paid. Hummel v. Jantzi, released May 14 by the Ontario Superior Court of Justice, follows a 2019 ruling in a 39-day motor vehicle personal injury […]
By Greg Meckbach | May 25, 2020
3 min read
Inflated auto towing and storage claims and arson are among the risks the industry faces from the economic downturn and social distancing arising from the pandemic, a fraud and data analytics expert warns. “A legitimate accident may happen and [a towing firm goes] and picks up the vehicle and they charge $1,000 or $2,000 to […]
A B.C. broker received a two-year licence suspension and a $7,500 fine for failing to disclose two of his bankruptcies to the province’s broker regulator. Amarpal Singh Atwal, who has been licensed as a broker since 1983, filed for bankruptcy in 2017, declaring assets of $2,102 and liabilities exceeding $2.7 million. The Insurance Council of […]
By David Gambrill | May 25, 2020
PORTERS LAKE, N.S. – Residents of more than 500 homes that were threatened by a forest fire in an area east of Halifax are being allowed to return now that officials have lifted an evacuation order. Halifax Fire tweeted late Sunday afternoon that the order for West Porters Lake area was ended, noting the weather […]
By The Canadian Press | May 25, 2020
1 min read
There has been a significant amount of discussion, both within and outside of P&C industry, about whether a commercial insurance policy offers pandemic coverage for business interruption losses. Generally speaking, commercial liability policies exclude business interruption coverage for pandemic. However, the industry has recommended that commercial insureds talk to their brokers or commercial insurance providers […]
By David Gambrill | May 22, 2020
A Laval area restaurant that says it has lost more than $700,000 in two months as a result of the pandemic is not taking no for an answer from the insurer, who says business interruption coverage does not apply because it’s not a direct physical loss and is citing several exclusions. Allianz Global Risks US […]
By Greg Meckbach | May 22, 2020
Consumers are actually open to —and even demanding — two-factor authentication safeguards such as biometrics for their online accounts, a new study has found. Nearly three-quarters (72%) of Canadians would allow their bank to analyze behavioural biometrics, like typing speed, to secure their online financial information, according to a recent study by FICO, a company […]
By Adam Malik | May 22, 2020
HALIFAX – Canadian meteorologists are predicting another active hurricane season, saying conditions are right for a long list of tropical storms. The Canadian Hurricane Centre in Halifax issued its seasonal forecast today, following up on a similar prediction offered Thursday by the National Weather Service in the United States. The U.S.-based National Oceanic and Atmospheric […]
By The Canadian Press | May 22, 2020
Smaller brokerages need improved tools to sell cyber insurance to small and mid-sized enterprises (SMEs), a cyber insurer told Canadian Underwriter recently. The industry is currently working to provide those tools, which may include a scaled version of the third-party cyber services offered to large organizations. Such services may include IT support and forensics, credit […]
By David Gambrill | May 21, 2020
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