Claims
A former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency backstop arrangement for property and casualty insurers, properly designed, would minimize the systemic financial impact […]
By Canadian Underwriter | August 3, 2016
3 min read
The global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the United States accounted for US$19.4 billion or 53.4%, notes a statement from the market research, […]
Police in Saskatchewan will be on the look out this month for commercial vehicles that are not in compliance with safety requirements. Saskatchewan Government Insurance (SGI) said in a press release on Tuesday that commercial vehicle safety is the province-wide traffic safety spotlight for the month of August. In addition to vehicles that are not […]
2 min read
Crews for the Regional Municipality of Wood Buffalo removed numerous barricades erected after heavy rainfall caused flooding in the region that played unwelcome host to the devastating Fort McMurray wildfire this spring. “Following yesterday’s rainfall, ground support staff from Underground Services and Public Works were mobilized to evaluate conditions in the Urban Service Area,” notes […]
By Canadian Underwriter | August 2, 2016
Two days of rain this past March, amounting to 350 mm that caused several rivers to overflow and evacuations to be ordered, has cost insurers NZ$30.2 million dollars, the Insurance Council of New Zealand (ICNZ) reported Monday. “Hundreds of people were evacuated after 350 mm of rain in a 24-hour period caused the West Coast’s […]
OTTAWA – Until Canadians own cars that truly drive themselves, they can forget getting off the legal hook if they’re in an accident with a vehicle that still has a steering wheel, suggests a report from Canada’s biggest law firm. Under Canada’s common-law legal system, driving in semi-autonomous mode isn’t much different than operating a […]
Disasters and emergency situations can take countless forms, some of these not yet imagined. Whatever the specific event, though, one constant may be the need for collaboration and the idea of joint responsibility.
By Angela Stelmakowich, Editor; and Greg Meckbach, Associate Editor | August 2, 2016
6 min read
Saskatchewan Government Insurance (SGI) has notified customers of a privacy breach by an employee at an independent motor licence issuing office in Vonda, Sask. SGI, Saskatchewan’s self-sustaining auto insurance fund, said in a press release on Friday that their investigation found that an employee at the office “looked up customer information without a business reason” […]
A long-standing and friendly relationship between a broker and client is always welcome. But busy schedules, brief chats and assumptions should never take the place of a comprehensive review of a client's risk come renewal time. This sort of annual review is necessary to meet a broker's professional obligations to the client, insurer and insurance industry as a whole.
By The CIP Society - Insurance Institute of Canada | August 1, 2016
7 min read
A recent ruling out of British Columbia reviewed the duty to defend in the context of forced labour and slavery allegations. The case addresses a number of weighty coverage considerations, including the "mere possibility" test and derivative pleadings.
By Hollis Bromley, Partner, Alexander Holburn Beaudin + Lang LLP | August 1, 2016
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