Claims
GOODSOIL, Sask. – Cleanup continues at a Saskatchewan campground following two tornadoes that snapped trees and caused severe damage on the Canada Day long weekend. Trevor Finlay, manager of Meadow Lake Provincial Park, says about 90 per cent of boats, campers and vehicles have been removed from Murray Doell campground. He anticipates the remaining property […]
By The Canadian Press | July 3, 2019
1 min read
Canada is well on its way to cracking the $1-billion threshold in insured catastrophe losses yet again as we enter the second half of 2019. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Wednesday that the estimated catastrophic insured loss so far this year sits at $600 million. The updated number comes after the company […]
By Adam Malik | July 3, 2019
3 min read
About three-quarters of cyber claims notified in 2018 to one specialist insurer involved some kind of “easily preventable” human error. “Theft of funds, ransomware, extortion and non-malicious data breaches usually start with a human error or oversight, such as clicking on a phishing link or not following up a wire transfer request with a phone […]
By Jason Contant | July 3, 2019
2 min read
GOODSOIL, Sask. – Environment Canada confirms winds that flattened a northwest Saskatchewan campground over the weekend were the result of tornadoes. The agency says in a weather summary of the incident that a severe thunderstorm moved through the Murray Doell Campground area in Meadow Lake Provincial Park on Saturday. It says people reported golf-ball-sized hail, […]
By The Canadian Press | July 2, 2019
Where is Canada now on its journey towards using pre-fill data for Canadian home insurance application forms? Step 1 in the process is isolating which questions on the form use data that can be pre-filled. A standard home insurance form in Canada can have roughly 40 or more questions. “I think the industry is really […]
By Jason Contant | June 27, 2019
If a major disaster such as an earthquake hits Canada, are some Canadian insurance companies simply “too big to fail”? After the financial crisis of 2007-08, the systemic risk of multiple companies going bankrupt following an extreme catastrophe event is uppermost in the minds of Canada’s property and casualty insurers. Insurance Bureau of Canada is […]
By David Gambrill | June 27, 2019
BRACEBRIDGE, Ont. – Ontario is launching a $1-million pilot project to help communities protect against effects of extreme weather after several in central and eastern parts of the province saw flooding this spring. The government has already activated a disaster recovery assistance program for them, which helps cover emergency expenses and the costs to repair […]
By The Canadian Press | June 27, 2019
Continental Casualty Company (CNA Canada) must pay both mandatory and optional accident benefits to an injured pedestrian after a judge set aside the decision of an arbitrator in a priority dispute. Arbitrator Kenneth Bialkowski concluded in an April 2018 decision that CNA was the priority insurer over Chubb Insurance Company of Canada, reasoning that claimant […]
By Jason Contant | June 26, 2019
If you have clients who are riding their bikes this summer, how does liability insurance work if they get into an accident? “Specialty cyclist insurance policies do exist, but my understanding is they are not very common,” said Ari Krajden, a partner with Toronto law firm Kawaguchi Krajden LLP. Liability for bicycle accidents is “typically” […]
By Greg Meckbach | June 26, 2019
Insurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau of Canada, told the annual meeting of the Ontario Association of Chiefs of Police in […]
By Adam Malik | June 24, 2019
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