Claims
Greater complexity in insured losses sparked by forest fires has produced a bright spot: innovation in how loss adjusters are tackling these events, suggests a new review from Cunningham Lindsey. Released Tuesday, the company’s 2017 Major and Complex Loss Review offers examples where increasingly complex losses have led to new and innovative ways loss adjusters […]
By Canadian Underwriter | June 6, 2017
4 min read
PERILS AG has disclosed a second loss estimate for extratropical cyclone Zeus of 269 million euros. The revised estimate, released on Tuesday, is for the property insurance market loss, said PERILS, an independent organization based in Zurich, Switzerland that provides industry-wide catastrophe data. Zeus primarily affected France on March 6 and 7, with Aon Benfield’s […]
2 min read
A spike in major claims resulting in record losses from catastrophic disasters across Canada over the last few years has created significant challenges for insurance carriers in 2017, a situation that has had an impact on customer satisfaction with the claims process, notes a new study from J.D. Power. “Catastrophic claims on the scale of […]
3 min read
MINTO, N.B. – A large fire that produced plumes of smoke that could be seen several kilometres away has destroyed a New Brunswick community’s only grocery store. RCMP Cpl. Kevin Jones said the Foodland on Main Street in Minto burned to the ground after a fire broke out at about 7 a.m. Monday and spread […]
By The Canadian Press | June 5, 2017
The impending legalization of marijuana in Canada raises a number of legal issues related to property insurance policies, Michael Teitelbaum, a partner with Hughes Amys LLP, said last week at ARC Group Canada’s 2017 annual seminar and cocktail event. In a June 1 presentation at the seminar, titled Smoke Hazards: How will the legalization of […]
By Jason Contant | June 5, 2017
6 min read
Ontario's 27-year-old rate approval process can be confusing, especially for those insuring fleets in multiple provinces.
By Stephen Moore, Partner, Blaney McMurtry LLP | June 5, 2017
5 min read
Approximately two-thirds of recalled inflators involved in the Takata recall in the United States have not yet been repaired, U.S. Sen. Bill Nelson (D-FL) reported late last week. “The numbers provided to Nelson by the independent monitor appointed to oversee Takata’s handling of the recall show that approximately 30.4 million of the 46.2 million recalled […]
By Canadian Underwriter | June 5, 2017
A disputed property insurance claim arising from a fire in Ottawa, in which the claimants asked for replacement value but the insurer would only pay actual cash value, will not be heard by the Supreme Court of Canada, the court announced Thursday. In a ruling released Dec. 6, 2016, the Court of Appeal for Ontario […]
By Canadian Underwriter | June 2, 2017
The insurance industry in Canada needs clear direction from governments and a proper framework to address the upcoming legalization of marijuana, attendees to an industry event heard on Thursday. “First and foremost, we do not as an industry, and cannot, provide any type of protection or a legal purse of money to pay for losses […]
By Jason Contant | June 2, 2017
CAMBRIA, Wis. – Recovery crews searched a mountain of debris for two workers on Thursday following an explosion at a corn mill plant that killed at least one employee, injured about a dozen others and levelled parts of the sprawling facility in southern Wisconsin, authorities said. Sixteen employees were working when the blast was reported […]
By Canadian Underwriter | June 1, 2017
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