Claims
If an earthquake hits Canada after 2024, some clients could get at least a few seconds’ advance warning. At least that’s what the federal government is hoping for. “Earthquake early warning has the potential to reduce the impact of a major earthquake in Canada. We are initiating a five-year program to develop such as system,” […]
By Greg Meckbach | February 10, 2020
3 min read
A former head of the United States National Flood Insurance Program has some frank advice for Canadian insurance professionals concerned about the lack of affordable overland flood coverage insurance for high-risk properties. “Look at what they have done south of the border in the United States and don’t repeat it,” Roy Wright, president and CEO […]
Look for climate change to heat up Canada’s liability lines over the next 10 years, as lawsuits begin to fly against the alleged corporate perpetrators of greenhouse gas emissions. Climate liability is an emerging risk for Canadian property and casualty insurers, according to the Insurance Institute of Canada’s latest research report, Climate Risks: Implications for […]
By David Gambrill | February 7, 2020
Polyfluoroalkyl (PFAS) materials are everywhere – and they could be the next big threat to property claims exposure, warned one expert. Lori Festarini, vice president of environmental services at Stantec, spoke about the risks around PFAS at the recent Ontario Insurance Adjusters Association’s Claims Conference in Toronto. This material is found in many everyday items […]
By Adam Malik | February 7, 2020
The government of British Columbia has announced it will be “removing lawyers and legal costs from the system” to lower public auto insurance rates by about 20%, a move applauded by the province’s brokers association but panned by trial lawyers. “You shouldn’t need a lawyer to access the benefits you’ve paid for,” B.C. Attorney General […]
By Jason Contant | February 7, 2020
4 min read
A controversial 2019 court ruling — in which the Alberta Court of Queen’s Bench found that a client struck by a motorcycle in the Philippines is covered by Alberta’s family protection endorsement — has been reversed on appeal. “The SEF 44 Endorsement is not travellers’ insurance,” Alberta Court of Appeal Justice Frederica Schutz wrote in […]
By Greg Meckbach | February 7, 2020
2 min read
MONTREAL – Schools across much of southern Quebec are shuttered today as a snowstorm bears down on the province. In the Montreal area, between 30 and 50 centimetres of snow are expected to fall by Friday night. Many school boards in Montreal and across southern Quebec decided to close today ahead of what is expected […]
By The Canadian Press | February 7, 2020
1 min read
Hail is a major driver of insured property damage in Canada, but testing resilience of roofing material by dropping steel balls on it has limited value, a CatIQ Connect speaker suggested Wednesday. Roy Wright, president and CEO of the Insurance Institute for Business and Home Safety, described how the industry tends to test roofing materials. […]
By Greg Meckbach | February 6, 2020
Most Quebec homeowners are covered for fire following earthquake, according to a survey by the province’s regulator, which canvassed about 90% of insurers doing business in Quebec. The results of the Quebec Autorite des Marches Financiers (AMF) survey indicate that nearly 10% of locations in Quebec are not covered for fire following an earthquake. The […]
By Greg Meckbach | February 5, 2020
Large losses will become larger, and the average annual severe weather claims paid by insurers in Canada could more than double over the next 10 years, according to a new report from the Insurance Institute of Canada. Since 2013, severe weather damage claims have averaged $2.1 billion a year, based on data from Catastrophe Indices […]
By Jason Contant | February 3, 2020
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