Claims
Royal Bank of Canada announced Canada Day that the company has completed the previously announced sale of RBC General Insurance Company to Aviva Canada Inc. The RBC Insurance offerings involved in the sale include certain home and auto insurance manufacturing capabilities, such as claims, underwriting and product development, notes a statement issued Friday by RBC. […]
By Canadian Underwriter | July 4, 2016
2 min read
Audit committees need to remain "up to speed" as disruption sparks the next generation of corporate risks. There is a definite need to understand and act on a widening universe of strategic, financial, business, operational and reputational risks.
By Kristy Carscallen, Canadian Managing Partner, Audit, KPMG in Canada | July 3, 2016
5 min read
A recent decision by a British Columbia court makes clear that strict compliance with the replacement cost endorsement is expected. The requirement to replace with "due diligence and dispatch" remains, even if the insurer has denied coverage for the loss and even if that denial is later overturned in the insured's favour.
By Owen Jones, Partner, Gowling WLG (Canada) LLP | July 3, 2016
6 min read
What has been projected to be Canada's largest insured loss event, the wildfire in and around Fort McMurray, perhaps will become known for something more positive: how early, co-ordinated and collaborative insurance industry response can help smooth the way to recovery.
By Bill Adams, Vice President, Western and Pacific, Insurance Bureau of Canada | July 2, 2016
The Supreme Court of Canada recently upheld a ruling from the British Columbia Workers’ Compensation Appeal Tribunal that breast cancer among hospital lab workers was an “occupational disease,” despite an expert report that did not find “any scientific evidence for the plausibility of a laboratory work-related etiological hypothesis” for the illness. In a divided decision […]
By Canadian Underwriter | July 1, 2016
The federal government recently passed a law allowing La Capitale Financial Security Insurance Company to apply to be regulated under the laws of Quebec. Bill S-1001 – which was signed into law June 17 – is “a private bill requested by a private insurance company to allow it to apply to change from being a […]
Some reinsurers use the catastrophe models of third-party vendors; others have opted to develop their own internal models to estimate losses. But despite significant improvements in data collection and computing power, there will always be some level of uncertainty in Cat models, especially those attempting to predict losses from human-induced disasters like cyber attacks or nuclear terrorism.
By Greg Meckbach, Associate Editor | July 1, 2016
12 min read
TORONTO – A house explosion west of Toronto that killed one woman this week is now a criminal investigation, but investigators aren’t ruling out the possibility that it was an accident. Peel Regional Police Sgt. Josh Colley said the home in Mississauga is associated with Robert Nadler and Diane Page, but police have not been […]
By Jason Contant | June 30, 2016
Flood Risk Canada, Inc. Wednesday announced the availability of a new digital platform that seeks to provide accurate and fast flood zone determinations for the properties in Canada. The launch of www.floodzone.ca is meant to help meet the need for timely information in times of emergency. Users can receive accurate flood zone determinations within 24 […]
By Canadian Underwriter | June 30, 2016
A wrongful dismissal lawsuit – launched by an auto sales manager who was dismissed 23 months into a five-year term – could reach the Supreme Court of Canada. Court records indicate that John Howard was hired in 2012 as truck shop manager for Benson Group Inc. His written employment contract was for a five-year term. […]
By Canadian Underwriter | June 29, 2016
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.
