Claims
eBrake Technologies Inc., a mobile app development company founded in Vancouver in June 2016, announced on Wednesday a pilot program that will offer a smartphone app designed to prevent distracted driving. The pilot program will offer smartphone app eBrake to select TELUS team members and fleet drivers across Canada, eBrake Technologies explained in a press […]
By Canadian Underwriter | July 12, 2017
2 min read
DETROIT – Takata is adding a new type of air bag inflator to the nation’s largest automotive recall. The company filed documents with the U.S. government adding 2.7 million vehicles to the recall from Ford, Nissan and Mazda, all with a type of inflator that previously was thought to be safe. The affected vehicles are […]
By Jason Contant | July 12, 2017
3 min read
Just leaving current wetlands in their natural state could cause riverine flooding-related flood damage to plummet as much as 38% and should provide the impetus for communities to view natural infrastructure as a climate adaptation solution, notes a study from the University of Waterloo’s Intact Centre on Climate Adaptation (ICCA). “With the ever-increasing financial burden […]
By Angela Stelmakowich | July 12, 2017
6 min read
Risk awareness is severely lacking and not enough attention is being paid to quake risk in eastern Canada, a region with “huge” loss-inflicting potential that a Swiss Re model projects could produce the country’s largest nat-Cat loss ever if the same magnitude 7.3 quake that occurred in the past happened today. The company’s in-house model […]
By Angela Stelmakowich | July 11, 2017
7 min read
A majority of single-family homes in Florida, Texas and Louisiana could see cheaper premiums with private insurance than with the National Flood Insurance Program (NFIP), according to a briefing paper from Milliman, a provider of actuarial and related products and services. The paper, released on Monday and titled Could private flood insurance be cheaper than […]
By Canadian Underwriter | July 11, 2017
Crews from the City of Saskatoon are responding to “power outages, lifted manhole covers and flooded streets” following a severe thunderstorm Monday evening. According to a press release on Monday from the city, Environment Canada issued a thunderstorm warning and then a thunderstorm watch earlier on Monday. The weather service said a low pressure system […]
The government of Ontario has announced increased maximum fines for individuals and corporations for starting forest fires. If found responsible, individuals can now be fined up to $25,000 for starting a forest fire, Ontario’s Ministry of Natural Resources and Forestry said in a press release on Friday. Fines for corporations can go up to $500,000. […]
As British Columbia has declared a state of emergency due to wildfires burning out of control throughout much of the Interior, the Insurance Bureau of Canada (IBC) is encouraging policyholders to discuss policy limits with their insurer. Most home and business insurance policies cover fire damage. If residents have to leave their homes because of […]
By Canadian Underwriter | July 10, 2017
GC Securities – a division of U.S. registered broker-dealer MMC Securities LLC, a subsidiary of Marsh & McLennan Companies, Inc. (MMC) – has announced the “first ever indemnity triggered multi-Europe peril only 144A catastrophe bond.” The placement of Principal At-Risk Variable Rate Notes, with notational principal at 200 million euros, was through a newly formed […]
All hosts know there are several elements that need to be properly planned when hosting a social function: the company, the food, the music and, of course, the refreshments. With the anticipated legalization of recreational marijuana in Canada, however, could a social host face exposure if marijuana is provided and something unexpected happens?
By Michael Blinick, Partner; and Sean Valentine, Associate Lawyer, McCague Borlack LLP | July 10, 2017
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