Claims

Industry seeks government help to deal with homes in high-risk flood areas

Canadian property and casualty insurers cannot be the sole financial backstop for homeowners who build their homes in high-risk flood areas, a senior industry executive told a catastrophe risk conference in Ottawa. “We have to resolve the issue of high-risk properties, because the insurance industry in the current environment cannot be there to save high-risk […]

By David Gambrill | February 2, 2018

2 min read

Insurers urged to share cat models to help map flood risk

Catastrophe models that Canadian insurers use to predict flood damage should be open-sourced, free and accessible to everyone, says the chief executive of an open source cat modelling platform. A common theme at the C4 conference in Ottawa, organized by Catastrophe Indices and Quantification Inc. (CatIQ), is that Canadian insurers, governments, academic researchers, scientists and […]

By David Gambrill | February 2, 2018

2 min read

Invasion of privacy class-action against Equifax proceeds in Ontario

A class-action lawsuit arising from last year’s Equifax cyber breach is proceeding in Ontario on the basis of a new invasion-of-privacy tort that has caught the eye of Canada’s property and casualty insurers because it allows courts to award damages even when no economic loss is proven. In a ruling released Jan. 24, the Ontario […]

By Greg Meckbach | February 1, 2018

2 min read

Cap on minor injury auto awards could be coming to B.C.

British Columbia’s government is considering caps on awards, in auto insurance personal injury lawsuits, for pain and suffering for minor injuries, the province’s attorney general told Canadian Underwriter Tuesday. With a cap on minor injury claims, Insurance Corporation of B.C. could cut claims costs by $300 million and $380 million a year, MNP LLP estimated […]

By Greg Meckbach | February 1, 2018

3 min read