Claims
Marijuana is trending to be an even bigger killer on the roads than alcohol, according to stats on fatal driving accidents between 2000 and 2014. “What we see is an increasing percentage of fatally injured drivers in Canada who tested positive for marijuana in recent years, whereas the percentage who tested positive for alcohol is […]
By Canadian Underwriter | December 5, 2017
2 min read
Advising clients on cyber policies “takes a level of sophistication on the broker’s side,” New Brunswick insurance defence lawyer Ryan Burgoyne told Canadian Underwriter Friday. “If you are putting yourself out to have specialized expertise in cyber liability insurance as a broker, brokers are going to have to be careful to make sure they understand […]
By Jason Contant | December 4, 2017
Reinsurance rates in Canada will likely not decrease and there may be some “upward movement in certain regions” following the historically massive catastrophes in the third quarter, MSA Research president and CEO Joel Baker suggested Monday. The catastrophes – including Hurricanes Maria, Irma and Harvey and the Mexico earthquakes – are expected to cost the […]
Officials in Ohio say a 13-year-old boy trying to kill a bed bug sparked an apartment building fire that displaced eight people and caused $300,000 in damage in Cincinnati, AP reported. Officials say the fire was reported around 11 p.m. Tuesday and began when the teen lit a match after dousing a bed bug with […]
By Canadian Underwriter | November 30, 2017
Losses from recent hurricanes could top US$100 billion, threatening to wipe out some Cat bonds. Still, reinsurance experts say investor support for new insurance-linked securities remains strong, with any players opting to exit the market expected to be easily replaced.
By Greg Meckbach, Associate Editor | November 29, 2017
1 min read
Editor’s Note: An earlier version of this story incorrectly referred to Keith Jordan as a broker who had been found in violation of the Council’s Code of Conduct. In fact, Jordan was the operating agent for HUB at the time of Council’s investigation and was in no way impugned by the fact situation outlined in […]
By Canadian Underwriter | November 29, 2017
3 min read
LA RONGE, Sask. – A man who admitted he started several wildfires in northern Saskatchewan by flicking lit wooden matches into the forest has been fined tens of thousands of dollars. Donald Halkett Jr. recently appeared in La Ronge provincial court and was given a six-month conditional sentence and ordered to pay more than $41,000 […]
By Jason Contant | November 29, 2017
A negligence lawsuit after a flood—against a company in charge of watching building automation systems—was recently tossed out of court because of the terms of the lease agreement. A plumbing firm paid settlements to tenants after a building flood, and then sought to recover the money from the property management firm responsible for overlooking the […]
By Jason Contant | November 28, 2017
Increases in natural catastrophes and the price of reinsurance could also drive up the price of insurance products in Canada, the federal financial regulator said Tuesday. “Our concern is in the longer run, we’ll see increases in the price of reinsurance, which will increase the price of products in Canada,” said Neville Henderson, assistant superintendent […]
The Insurance Bureau of Canada (IBC) is welcoming the climate change provisions in the Government of Ontario’s newly released Long-Term Infrastructure Plan (LTIP). The provincial government released LTIP on Tuesday. The plan includes investment in public infrastructure, such as hospitals, schools, public transit, road and bridges. Ontario is investing $190 billion in public infrastructure over […]
By Canadian Underwriter | November 28, 2017
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