Claims
Retailers who are partially re-opening without letting customers into their stores could face liability risk if customers are somehow injured just outside the store, an insurance defence lawyer suggests. Since May 11, some Ontario retailers who were originally ordered closed can now offer curbside pickup and delivery. But retailers with store fronts normally do not […]
By Greg Meckbach | May 14, 2020
3 min read
OTTAWA – The Bank of Canada says there are signs in the country’s financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis. The central bank has spent the last two months making a flurry of policy decisions that has seen it slash its target interest rate and embark […]
2 min read
If your auto client base is driving less because of the pandemic, then its claims costs should drop in proportion. Right? Not necesessarily, suggests the head of Canada’s largest auto insurer. Intact Financial Corp. looked at its database of driving data usage-based insurance clients and noticed the distance driven dropped about 50% from the onset […]
By Greg Meckbach | May 13, 2020
Event cancellation is a major reason for the sharp increase in Munich Re’s first-quarter reinsurance claims. Munich Re reported €800 million in COVID-19 related losses in the three months ending March 31, “particularly in event cancellation insurance.” Munich Re’s claims and benefit expenses, in property and casualty reinsurance, rose 33%, from €3.186 billion in the […]
By Greg Meckbach | May 12, 2020
A strata corporation that tried to charge a unit owner $1,260 in water damage restoration costs has lost its case before the British Columbia Civil Resolution Tribunal. In July 2019, an outdoor water tap failed, causing water to enter a wall between Bryan Hooper’s strata lot and a neighbour’s lot. The strata corporation hired a […]
TORONTO – As provinces begin the slow process of reopening their economies and people start returning to the workplace, questions abound about the rights and responsibilities of employees and employers in the aftermath of COVID-19. The Canadian Press asked two employment lawyers, Adam Savaglio, a partner at Scarfone Hawkins LLP, and Lior Samfiru of Samfiru […]
4 min read
What programs – if any – does your brokerage have in place to mitigate your own cyber risk? This is what your provincial regulator could be asking you, if they haven’t already. “If the Registered Insurance Brokers of Ontario knocks on your door for their audit, they are going to be asking questions about your […]
By Greg Meckbach | May 11, 2020
Ontario Provincial Police caught two different drivers this past weekend going more than twice the speed limit on highways, part of a growing trend of dangerous driving on the open roads during the pandemic — and insurers are taking notice. One driver in Toronto was clocked at a whopping 308 km/h on the QEW highway, […]
By Adam Malik | May 11, 2020
FORT MCMURRAY, Alta. – Cora Dion’s voice echoes as she films a video showing what’s left in the basement of her home in downtown Fort McMurray after several days of flood cleanup. The couch and chair are in the garbage. The beige carpet has been ripped up. The teal-painted drywall and wood panelling has been […]
By The Canadian Press | May 11, 2020
Winter tires may reduce collision risk, but that doesn’t necessarily translate into a reduction in insured losses for every book of business — especially if the snow tires give motorists a false sense of security. Canada’s fifth-largest insurer recently looked at its auto claims numbers in Nova Scotia, comparing vehicles with winter tires and those […]
By Greg Meckbach | May 8, 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.
