Claims
As summer approaches in the midst of the COVID-19 pandemic, a key question is whether motorists with winter tires are getting their seasonal tire changes. Keeping winter tires on during the summer increases the risk of aquaplaning because winter tire treads don’t shed water as effectively as those of summer or all-season tires, warns CAA […]
By Greg Meckbach | April 27, 2020
3 min read
The Supreme Court of Canada announced it will hear an auto liability coverage dispute involving RSA Canada, insurer of a motorcyclist who had alcohol in his system while holding a probationary licence. The motorcyclist, Steven Devecseri, was killed May 29, 2006, after colliding with a vehicle. Its driver sued both Devecseri’s estate and Jeffrey Bradfield. […]
FORT MCMURRAY, Alta. – Flooding in northern Alberta has led to mandatory evacuations in Fort McMurray and a request to the federal government for military assistance. “We have requested assistance from the federal government as we face this new crisis,” Don Scott, mayor of the Regional Municipality of Wood Buffalo, said in social media post […]
By The Canadian Press | April 27, 2020
2 min read
The COVID-19 pandemic could cause large losses for liability insurers covering nursing homes and long-term care facilities, and therefore further tightening of rates, a Canadian managing general agent predicts. “There are a lot of exposures in the business,” Stephen Stewart, CEO of Stewart Specialty Risk Underwriting Ltd., said in an interview of long-term care facilities. […]
By Greg Meckbach | April 24, 2020
VANCOUVER – A flood warning has been issued for a river near Prince George, British Columbia, after it rose nearly 35 centimetres in a day. The B.C. River Forecast Centre, which assesses water supply, flood risk and predicts flows in provincial waterways, upgraded the warning for the Chilako River early Friday. It says the river […]
By The Canadian Press | April 24, 2020
One result of the ongoing COVID-19 pandemic will be liability claims against company boards, property and casualty industry watchers predict. “I think we will see litigation coming out of this,” Shara Roy, a partner with law firm Lenczner Slaght Royce Smith Griffin LLP, which defends publicly traded companies in class action lawsuits. Publicly-traded firms have […]
By Greg Meckbach | April 22, 2020
As difficult as this may be for brokers to hear, market swings in the competitive environment of the P&C insurance industry are inevitable. During soft markets, when capacity is plentiful, companies will use that capacity to lower premium rates to gain market share. They make up for any underwriting losses through investment returns. Everyone in […]
By David Gambrill | April 21, 2020
Before COVID-19, there was a lively debate within the Canadian P&C industry about the virtues and pitfalls of working from home, featuring the industry’s skeptics (a.k.a. the “Boomers”) and proponents (the “Millennials”). Well, guess what? The pandemic has made us all Millennials now. And who knows for how long we’ll continue to be working remotely […]
The Canadian insurance industry will struggle with adding exclusions related to COVID-19 in directors and officers (D&O) policies, “particularly in light of the fear that adding them now will suggest past policies did not exclude these issues,” a Toronto lawyer said last week. “We do expect, however, that more insurers will be compelled to introduce […]
By Jason Contant | April 21, 2020
A homeowner’s insurance policy will not likely be called upon to respond to a liability claim arising from the transmission of COVID-19, an insurance litigation lawyer said Friday. As such, brokers likely don’t need to take the initiative to advise insureds about exclusions in personal lines policies, Chris Blom, a partner with Miller Thomson LLP […]
By Jason Contant | April 20, 2020
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