Claims
The Institute for Catastrophic Loss Reduction (ICLR) will be hosting a webinar on “Great Cascadia megathrust earthquakes” on Thursday, Jan. 26 from 10 a.m. until 11:30 a.m. EST. The workshop, titled “Great Cascadia megathrust earthquakes: Past, present, and future,” will focus on megathrust earthquakes and the tsunamis caused by them and the threats posed to […]
By Canadian Underwriter | January 3, 2017
2 min read
While the federal government continues to "explore options" for a national approach to flood insurance, a major reinsurer warns coverage is unaffordable to many high-risk properties.
By Greg Meckbach, Associate Editor | January 2, 2017
8 min read
Federal regulations requiring organizations to notify individuals of data breaches that could potentially expose them to harm will probably be in place this year and could cause an increase in class-action lawsuits, lawyers familiar with privacy laws suggest. The Digital Privacy Act (DPA) was passed into law June 18, 2015. Tabled in 2014 as Bill […]
The explosion that destroyed the AMOS-6 satellite will "heavily hit the London market," a reinsurance executive predicts, while a marine underwriting official reports about a third of Canada's $321-million marine insurance market, in 2015, was from yacht and $55 million was from hull.
By Greg Meckbach, Associate Editor | January 1, 2017
9 min read
As insurers carve back language excluding pollution clean-up in directors' and officers' (D&O) liability policies and regulators impose administrative monetary penalties on corporate directors, D&O programs may be hit with new claims in 2017.
By Christopher Mutcheson, Head of Directors and Officers and Financial Institutions, Financial Lines Canada, Allianz Global Corporate & Specialty | January 1, 2017
5 min read
Property Claim Services Canada has designated nine catastrophe events in Canada in 2016. Though most of the $4.9 billion insured loss arose from the Alberta wildfires, the data indicates hail and thunderstorms events are becoming more severe.
By Tom Johansmeyer, Assistant Vice President, PCS Strategy and Development; and Ted Gregory, Director of PCS Operations, Verisk Insurance Solutions | January 1, 2017
NORTH WILDWOOD, N.J. – A beach town being sued for the drowning death of a man swept out to sea when the sand collapsed underneath him says it is immune from such lawsuits due to a state law governing unimproved public property. North Wildwood claims the law puts the risk for use of such property […]
By Jason Contant | December 23, 2016
3 min read
The Financial Services Commission of Ontario (FSCO) has issued a warning about a spam email using the fsco.gov.on.ca domain name and email address richard@fsco.gov.on.ca, which it said has been transmitting a computer virus to unsuspecting members of the public. The warning, on Thursday, said that the email appears to be sent by a FSCO employee […]
By Canadian Underwriter | December 22, 2016
1 min read
The City of Ottawa and an OC Transpo bus driver have lost their appeal of a ruling that the bus driver was 20% liable, for a fatal collision, with a vehicle driven by an alcohol-impaired driver who ran a red light. “On January 23, 2008, an OC Transpo bus driven by Raymond Richer T-boned an […]
By Jason Contant | December 22, 2016
4 min read
Chubb announced on Thursday an expanded suite of cyber loss mitigation services is now available to help the company’s policyholders in Canada and the United States reduce the impact and likelihood of a cyber incident. According to a press release from Chubb, the expanded suite of cyber services includes: In addition to these new offerings, […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
