Claims
A mid-March winter storm that struck central and eastern Canada caused over $124 million in insured damage, Catastrophe Indices and Quantification Inc. (CatIQ) said Thursday. The storm hit Ontario on Mar. 14 and continued through Quebec, New Brunswick and Nova Scotia until Mar. 16. It brought dramatic temperature changes and heavy rainfall, resulting in snowmelt […]
By Jason Contant | April 12, 2019
2 min read
Insurers need to work with regulators and other carriers to help fight the growing problem of insurance fraud, industry professionals say. Industry statistics show that insurance fraud costs $1.6 billion each year in Ontario alone. “As government reflects on the challenges within the auto insurance policy and the prices charged to Ontario drivers, we would […]
3 min read
Are you spending a lot of time dealing with “coverage leakage” and buyer’s remorse as it relates to cyber insurance? For smaller claims in particular, some clients may not have a cyber policy, but may try to recover out-of-pocket costs through traditional property policies, for example. One instance would be electronic vandalism coverage – where […]
By Jason Contant | April 11, 2019
An Ottawa dry cleaner is liable for nearly $2 million in environmental clean-up costs resulting from spills that occurred at least 45 years ago, as a result of a Supreme Court of Canada ruling released Thursday. The top court’s ruling in Fraser Hillary’s Limited v. Eddy Huang, et al. did not involve an insurer but […]
By Greg Meckbach | April 11, 2019
PEMBERTON, B.C. – Residents of the Lil’wat First Nation just east of Pemberton, B.C., are closely watching a grass and brush fire that broke out late Tuesday afternoon. The First Nation set up an emergency operations centre and warned residents of 15 properties to be ready to leave on short notice, although officials say no […]
1 min read
A court ruling against Economical and Intact over pollution exclusions in commercial general liability policies has been reversed. As a result, the insurers do not have to defend a Vancouver area dry cleaner against a lawsuit filed by its neighbours alleging soil contamination. Originally, British Columbia Supreme Court Justice Joyce DeWitt-Van Oosten ruled that Intact […]
By Greg Meckbach | April 10, 2019
The insurance industry needs to ensure its own flood risk maps are widely available and the federal government needs to make it easier to spend money on disaster mitigation projects, says Insurance Bureau of Canada CEO Don Forgeron. The federal Disaster Mitigation and Adaptation Fund (to which the government earmarked $2 billion over 10 years […]
MONTREAL – Premier Francois Legault says the large majority of the more than 100,000 Quebec homes still without power after Monday’s ice storm will have electricity restored by Wednesday night. Speaking to reporters in Quebec City, Legault thanked Hydro-Quebec crews, whom he said worked through Tuesday night “in very difficult conditions.” Legault urged people experiencing […]
By The Canadian Press | April 10, 2019
Aviva Canada has worked with provincial regulators to simplify its products and the claims process for customers. “We’ve done that specifically for [accident benefits], where we got a lot of feedback from customers that the forms were confusing, they didn’t know when to submit them, that there’s a lot of them,” said Bryant Vernon, Aviva […]
By Jason Contant | April 10, 2019
Large companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and Casualty Insurers’ Risk Management conference were asked about a push by some municipalities to seek […]
By Greg Meckbach | April 9, 2019
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