Claims
More than 8 in 10 organizations were victims of phishing scams in 2015, a 13% increase over 2014, according to companies polled recently by Pittsburgh-based information security company Wombat Security Technologies. Wombat Security compiled data from the “millions of phishing attacks sent through the ThreatSim and Wombat platforms” from Oct. 1, 2014 through Sept. 30, […]
By Canadian Underwriter | September 7, 2016
3 min read
STEPHENVILLE, NL – Police in Newfoundland and Labrador say a crash between a car and a moose claimed the life of a teenage girl. Bay St George RCMP say four young people were in the car when the crash occurred late Saturday night on a highway in Stephenville, a community of about 6,700 on Newfoundland’s […]
By The Canadian Press | September 6, 2016
2 min read
DUBAI, United Arab Emirates — A preliminary report released Tuesday into last month’s Emirates airliner crash landing in Dubai found that the pilot attempted to take off again after briefly touching down, and that the plane ultimately hit the runway as its landing gear was still retracting. One firefighter was killed responding to the accident, […]
By Canadian Underwriter | September 6, 2016
4 min read
Property and Casualty Insurance Compensation Corp. is urging federal finance minister Bill Morneau to “carefully look” at recommendations made last month in a C.D. Howe Institute report, including a suggestion that Ottawa make arrangements to provide financial assistance to PACICC in case of severe events. On Aug. 3, the C.D. Howe Institute released the report […]
5 min read
The current flash estimate of insured losses associated with Hurricane Hermine – likely to produce in excess of 50,000 claims – approaches US$500 million, with total economic damages almost US$1 billion, Karen Clark & Company (KCC) reported Friday. “The storm is likely to produce over 50,000 claims, primarily to residential properties and autos, and spread […]
The governor of Oklahoma has declared a state of emergency for Pawnee County following a magnitude 5.6 earthquake that occurred early Saturday morning. The earthquake was felt in multiple states and was the strongest the state has experienced since November 2011, when another magnitude 5.6 earthquake occurred in Lincoln County, Oklahoma Governor Mary Fallin said […]
By Canadian Underwriter | September 4, 2016
Ontario's new standard fleet auto policy gives the green light to ridesharing activities with a transportation network company and licensed insurers looking to cover these operations. Entry into the new space has not yet reached top speed, with only one insurer policy approved to date, but even early on, it appears as though there may be some potential risks for underlying vehicle insurers.
By Daniel Strigberger, Lawyer, Samis + Company | September 3, 2016
6 min read
A new decision out of Newfoundland and Labrador explores confirmation and resetting limitation periods. Of note for insurers, the ruling provides certainty regarding the impact of payment for certain documents in the course of a claim investigation.
By Joe Thorne, Senior Associate; and Giles Ayers, Articled Clerk, Stewart McKelvey | September 3, 2016
7 min read
The average cost of a basement flood claim in Canada in 2014 was a hefty $20,537. With severe weather continuing, related flooding and the associated costs are sure to continue absent preventive measures being taken. Those measures will be put to the test as part of the first pilot project of the Home Adaptation Assessment Program.
By Blair Feltmate, Head, Intact Centre on Climate Adaptation, University of Waterloo | September 3, 2016
An Ontario court recently approved a settlement in a class action lawsuit against Home Depot of Canada, Inc. and its corporate parent arising from a data breach in 2014 that affected its payment card system. Class action lawsuits were filed in Saskatchewan and Ontario. Total counsel fee requested by the plaintiffs’ law firms was nearly […]
By Canadian Underwriter | September 3, 2016
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