Claims
The third annual Wildfire Community Preparedness Day (WCPD) will be held on May 6, the Partners in Protection Association/FireSmart Canada said on Thursday. People in communities throughout Canada will have an opportunity to apply for funding to support efforts to strengthen their resilience against wildfire by participating in the event, The Co-operators said in a […]
By Canadian Underwriter | February 2, 2017
2 min read
STORTHOAKS, Sask. – The Calgary-based company handling a pipeline spill that saw 200,000 litres of crude leaked onto First Nations farmland in Saskatchewan is now dealing with another, albeit much smaller, spill. On Wednesday night, the National Energy Board issued a news release saying it was responding to a release of crude oil at Tundra […]
By The Canadian Press | February 2, 2017
XL Group Ltd. has reported a P&C combined ratio of 94.8% for the fourth quarter of 2016 ending Dec. 31, up 2.5% from the prior-year quarter. For the full year 2016, XL Group reported a combined ratio of 94.2% compared to 92% in the prior year. Net income attributable to common shareholders was US$304.7 million […]
4 min read
Terrorism insurance programs need a reset to ensure clients are appropriately covered in light of the continuing shift from attacks on property to attacks on people designed to produce mass casualties, Scott Bolton, the U.K.-based director of business development and network relations for Aon Risk Solutions, suggested Wednesday. “We can’t just keep having conversations around […]
By Angela Stelmakowich | February 2, 2017
2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification Inc. (CatIQ), reported Wednesday during an industry conference in Toronto. Across the country, incurred losses […]
3 min read
The new tort of intrusion upon seclusion is “a big deal for drone operators,” and experts on operating drones will be “key to helping a court” determine the standard of care in negligence lawsuits, a lawyer suggested at a recent conference. Drones or unmanned aerial vehicles “can fly anywhere,” said Dara Lambe, a London, Ont.-based […]
By Jason Contant | February 1, 2017
LAMEQUE, N.B. – There are still about eight thousand customers awaiting the return of electricity in northern New Brunswick today, more than a week after the ice storm that wreaked havoc in the province. The NB Power website shows many of the outages are on the Acadian Peninsula, on Miscou and Lameque Islands, but there […]
By The Canadian Press | February 1, 2017
PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced on Wednesday that it has entered into a strategic alliance with Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ) to provide industry loss data for Canada. With immediate effect, PERILS will make available via the PERILS Industry Loss Index Service industry loss data for […]
By Canadian Underwriter | February 1, 2017
The legalization of marijuana for medicinal purposes is “creating a challenge” for claims adjusters and brokers alike, with a need for customized insurance policies for producers and for updating lease agreements, a speaker suggested at a conference Tuesday. “Possession of marijuana in Canada at the moment is still not legal and the only permitted use […]
By Greg Meckbach | January 31, 2017
SAN FRANCISCO – Ocean rise already is worsening the floods and high tides sweeping California this stormy winter, climate experts say, and this month’s damage and deaths highlight that even a state known as a global leader in fighting climate change has yet to tackle some of the hardest work of dealing with it. The […]
By Jason Contant | January 31, 2017
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