Claims
With railway disruptions across the country approaching the two-week mark, so grows the likelihood of insurance claims as a result. Most likely to be hit hardest is the retail industry, according to a pair of experts, due to the time sensitivity of many of its products. To make a claim, there has to be physical […]
By Adam Malik | February 18, 2020
3 min read
The clock is ticking on taking action when it comes to creating more climate-resilient homes, neighbourhoods and cities, a panel warned at a recent conference. When asked by moderator Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction, if there was still time for small changes, or if the insurance industry had to […]
By Adam Malik | February 14, 2020
If your clients are directors and officers of a company that licences its brand to franchisees, can those clients and the owner of the brand be vicariously liable for alleged wrongdoings on the part of franchisees? It depends in large part on nature of the relationship and the wording of the franchise agreement, a recent […]
By Greg Meckbach | February 14, 2020
If your client wants to be covered under a professional fees endorsement, must these fees be required by the insurer? The question was put to the Ontario Superior Court of Justice recently. Ontario Superior Court Justice David Edwards found that, depending on the wording in the policy, professional fees need only be required to prove […]
By Jason Contant | February 13, 2020
JOHN’S, N.L. – The mayor of St. John’s, Nfld. says the cleanup after last month’s fierce blizzard could cause the city to blow its snow-clearing budget by several million dollars. Newfoundland and Labrador’s capital was under a weeklong state of emergency after the record-breaking Jan. 17 blizzard that brought more than 76 centimetres of snow […]
By Greg Meckbach | February 13, 2020
2 min read
If recommendations from a report released last year on sustainable finance are going to succeed, the property and casualty insurance industry is going to play a key role in making it happen, said one expert. There is a lack of corporate disclosure around the risk of climate change, warned Barbara Zvan, chief risk and strategy […]
By Adam Malik | February 12, 2020
The Guarantee Company of North America wants to take a disputed claim on a 20-year-old performance bond to the Supreme Court of Canada. The top court announced Feb. 7 that The Guarantee is applying for leave to appeal HOOPP Realty Inc. v. The Guarantee Company of North America, released this past November by the Court […]
By Greg Meckbach | February 12, 2020
4 min read
Your property client’s flood risk could arise from a weak link in the bathroom. Water damage claims of over $100,000 can result if the supply line feeding water to the toilet breaks, says metallurgist Paul Okrutney, founder of Toronto-based insurtech Mitigateway. “They are extremely common,” Okrutney said in an interview. “Basically your plumbing system is […]
By Greg Meckbach | February 11, 2020
Insurance professionals can run the gamut of emotions over the course of a claim, which is what makes managing mental health a challenge, according to industry experts. Whether it’s the broker fielding the call from a panicked client to the claims advisor overseeing the loss to the adjuster who regularly interacts with the distraught client, […]
By Adam Malik | February 11, 2020
VANCOUVER – Travellers nervous about globe-trotting during the novel coronavirus outbreak may be eligible to receive a refund for cancelling their travels, say insurance experts, but it depends on the destination, their insurance policy and other factors. “I think in any case of sort of an epidemic like this, it’s really an evolving situation and […]
By The Canadian Press | February 11, 2020
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