Claims
The Institute for Catastrophic Loss Reduction (ICLR) will be holding a webinar on “physics” versus climate models as related to extreme rainfall on March 24. The ICLR announced the webinar, titled Practical issues in updating IDF curves for future climate: “Physics” vs climate models, on Thursday. It will be held from 10 a.m. to 11:30 […]
By Canadian Underwriter | March 2, 2017
2 min read
Can earthquakes be damaging? Yes. Would a severe quake have an adverse impact on government, the economy, home and business owners and Canada's property and casualty insurance industry? Perhaps. So, has everyone taken steps to ensure they have coverage? No.
By Angela Stelmakowich, Editor | March 2, 2017
13 min read
With Ottawa's move to legalize marijuana for recreational use this year, weed looks to be a growth industry, indeed. With that growth, however, are a number of potential insurance issues related to the cultivation and sale of medical marijuana.
By Alexis Moulton, Partner; and Nathaniel Brenneis, Student-at-Law, McLennan Ross LLP | March 1, 2017
6 min read
Regulatory changes are necessary to better position Ontario for adopting autonomous vehicles and addressing any related issues. Both regulators and insurers must be ready for the near future, which will likely feature a mix of assisted driving technologies and the ability of a driver to take control should the need arise.
By Jonathan Grnak, Barrister & Solicitor, Danson Recht LLP | March 1, 2017
RIVERSIDE, Calif. – Juan Cortes and his son were installing fencing when they saw a low-flying plane make an awkward tilt and go straight down into a quiet Southern California neighbourhood of single-family homes. Moments later they and others were confronted with a horrifying inferno. “I saw the smoke, the black smoke,” said Cortes, 42, […]
By Canadian Underwriter | March 1, 2017
3 min read
COME BY CHANCE, N.L. – Police have charged a man with mischief endangering the lives of others after a small bag of acetylene exploded in a welding area last fall at an oil refinery in Newfoundland. The 40-year-old man from Carbonear is also charged with mischief over $5,000. No one was hurt in the incident […]
By The Canadian Press | March 1, 2017
1 min read
Concern about cyber resilience is on the rise – as are the potential costs associated with attacks – but insurers and companies should understand steps can be taken to manage the risk, suggests the latest sigma report from Swiss Re Institute. That said, businesses must “do much more to integrate cyber security into their risk […]
4 min read
The regulatory regime for reinsurance has become more ambiguous and complicated in Canada. The federal regulator needs to chart a course that strikes a balance between the protection of Canadian policyholders and ensuring a competitive insurance market exists in Canada capable of operating in
By Brian Reeve, Partner, Cassels Brock & Blackwell LLP | March 1, 2017
7 min read
Community resilience looks to be taking a big step forward with the recent announcement that National Research Council Canada (NRCC) will take into account climate change as part of regular updates to the country’s building codes. The NRCC will conduct research, evaluations and risk analyses over the next five years with a view to developing […]
By Angela Stelmakowich, Editor | March 1, 2017
Echelon Financial Holdings Inc. (EFH) has received regulatory approval from the Danish Financial Services Authority to sell its European operations, a move that will allow Echelon Insurance to roll out its strategy to focus on Canadian operations. EFH noted in a statement last August that the company has entered into a definitive stock purchase agreement […]
By Angela Stelmakowich | March 1, 2017
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