Claims
With property and casualty reinsurance prices showing few signs that downward pressure is ending any time soon, traditional reinsurance looks to be a real bargain for carriers hoping to protect their balance sheets and prepare themselves for future catastrophes. Forward-looking carriers are also recognizing that cost-effective reinsurance can help secure their future profitability.
By Greg Meckbach, Associate Editor | September 2, 2016
5 min read
New federal obligations associated with transportation of dangerous goods seek to provide Transport Canada with better information about related releases. As of December 1, carriers who have charge, management or control of dangerous goods that are released or are anticipated to be released must adhere to the new rules.
By Alan Harvie, Senior Partner, Norton Rose Fulbright Canada LLP | September 2, 2016
DEKLE BEACH, Fla. – Hermine tore across northern Florida on Friday as the first hurricane to hit the state in more than a decade, killing one person, raising a storm surge that destroyed beachside buildings and toppling trees into homes. As the system pushed into Georgia, it knocked down many power lines in both states. […]
By Jason Contant | September 2, 2016
The BC Wildfire Service has reported that its firefighters are making “good progress” on the two dozen small lightning-caused wildfires that started in the southeast part of the province over the past week. Since Aug. 29, BC Wildfire Service crews have responded to 23 wildfires in the Southeast Fire Centre, the Ministry of Forests, Lands […]
By Canadian Underwriter | September 2, 2016
3 min read
ROME – Italy began looking to the future Wednesday a week after an earthquake flattened three towns, with Premier Matteo Renzi tapping a reconstruction czar to oversee the rebuilding and investigators acquiring the first documentation into the construction blamed for the high death toll. Another body was extracted from the rubble of Amatrice’s Hotel Roma […]
A year of fire and floods in North America could lead to a repeat of 2007, when reinsurance disputes emerged over causation issues, a lawyer with global law firm CMS said on Friday. Alex Denslow, a partner with the Insurance & Reinsurance Group at CMS, added that contingent business interruption (CBI) exposures are looking increasingly […]
4 min read
A hail of glowing embers bounces off the hood of the pickup creeping in gridlocked traffic. Headlights can’t penetrate the billows of greasy smoke swirling in a hot, heavy wind. As the camera pans, pine trees barely a car-length away explode into flames that jet 30 metres up into the gloom. A creepy purple glow […]
By Emily Atkins, Editor | September 2, 2016
13 min read
A British Columbia court recently ruled against the province’s government-run auto insurer when it found that a man who suffered a spinal injury while moving his all-terrain vehicle from his pickup truck is entitled to accident benefits. Section 96(b)(i) of B.C.’s Insurance (Vehicle) Act Regulation (also known as Regulation 447/83) stipulates that ICBC is not […]
By Canadian Underwriter | September 1, 2016
The Insurance Corporation of British Columbia (ICBC), provincial police and the B.C. government are teaming up to launch a month-long campaign to tackle distracted driving, which is responsible for approximately one-quarter of all fatal crashes in the province. ICBC said in a press release on Thursday that with tougher penalties now in effect, police across […]
David Peterson, chairman of business law firm Cassels Brock & Blackwell LLP, and U.S. Governor Tom Ridge, the first U.S. Secretary of Homeland Security and former governor of Pennsylvania, announced on Thursday the launch of Ridge Canada Cyber Solutions, Inc., “offering best-in-class informed cybersecurity assessments and bespoke cyber insurance products.” The cyber insurance solutions can […]
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