Claims
The Insurance Bureau of Canada (IBC) is congratulating the federal government on the National Research Council Canada (NRC) decision to update the country’s building codes to reflect the realities of climate change. “This is something that Canada’s property and casualty insurers have long advocated for and we are very supportive of this move,” said Craig […]
By Canadian Underwriter | February 28, 2017
2 min read
Saskatchewan Government Insurance (SGI) announced on Tuesday that distracted driving is returning as the traffic safety spotlight for the month of March. Police across the province will be watching for drivers using their cellphones while behind the wheel, including those making calls, sending texts or sharing information on social media, SGI said in a press […]
DETROIT – Japanese auto parts maker Takata Corp. pleaded guilty to fraud Monday and agreed to pay $1 billion in penalties for concealing an air bag defect blamed for at least 16 deaths, most of them in the U.S. The scandal, meanwhile, seemed to grow wider when plaintiffs’ attorneys charged that five major automakers knew […]
By Jason Contant | February 28, 2017
4 min read
A “potent combination” of technological change, talent pressure, customer expectations and cyber risks is forcing Canada’s property and casualty (P&C) insurers to embrace innovation more urgently than ever in 2017, according to a new report from EY. EY’s 2017 P&C Insurance Outlook, released on Tuesday, identified six forces shaping the P&C insurance industry in the […]
3 min read
Flood risk across Manitoba remains “moderate to major” across the province, the provincial infrastructure minister said on Monday. Manitoba Infrastructure Minister Blaine Pedersen issued the province’s first 2017 flood outlook on Monday, suggesting that levels of spring flooding will be dependent on future weather conditions as moderate to major flooding persists in many areas of […]
By Canadian Underwriter | February 27, 2017
Manitoba Crown Services Minister Ron Schuler and Manitoba Public Insurance (MPI) announced on Monday that customers in the province will soon be able to purchase higher levels of third party liability insurance coverage. Effective March 1, new $7 and $10 million liability coverage options will be available to supplement the $1 million, $2 million and […]
FRESNO, Calif. – The bill to repair California’s crumbling roads, dams and other critical infrastructure hammered by an onslaught of storms this winter could top $1 billion, including nearly $600 million alone for damaged roadways that more than doubles what the state budgeted for road repair emergencies, officials said Friday. Adding to the problems, many […]
By Jason Contant | February 27, 2017
California Gov. Jerry Brown wants to spend $437 million on immediate flood control and emergency response actions in the storm-drenched state. Brown said Friday he would do that by redirecting $50 million from the state general fund and requesting a $387 million appropriation from the voter-approved 2014 Proposition 1 water bond. Both actions require approval […]
By Jason Contant | February 24, 2017
1 min read
CALGARY – A major oil pipeline spill last year in Saskatchewan cost $107 million to clean up, a $17-million increase from a September estimate of $90 million, according to pipeline operator Husky Energy (TSX:HSE) of Calgary. The pipeline rupture last July allowed 225,000 litres of heavy oil mixed with diluent to spill onto the bank […]
Transport Canada (TC) and Defence Research and Development Canada (DRDC) announced on Friday that they will conduct a field exercise this weekend designed to improve Canada’s response capabilities in the event of an incident involving a train carrying flammable liquids, such as crude oil. TC and DRDC, an agency of the Department of National Defence, […]
By Canadian Underwriter | February 24, 2017
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