Claims
A negligence lawsuit against the company that audited the financial statements of the entertainment firm formed in 1989 by Garth Drabinsky and Myron Gottlieb could reach the Supreme Court of Canada. In a decision released in 2014, the Ontario Superior Court of Justice found that Deloitte & Touche “failed to meet its professional standard of […]
By Canadian Underwriter | June 7, 2016
5 min read
PARIS – France is setting up an emergency fund to help those who lost everything after the worst floods in three decades caused the Seine River to burst its banks. Prime Minister Manuel Valls said Monday after a government meeting that the “return to normality will take time” after unusually intense rains that lashed Europe […]
By Jason Contant | June 6, 2016
2 min read
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is warning the public about an ongoing financial scam that attempts to solicit financial information from unsuspecting victims. This scam is committed by persons who claim to be representatives of Financial Crimes Enforcement Network (FinCEN) an agency of United States Department of the Treasury. FCAA said […]
By Canadian Underwriter | June 6, 2016
OTTAWA – Bank of Canada governor Stephen Poloz says it’s hard to predict when the Canadian economy will rebound from the huge Alberta wildfire that destroyed communities and forced the shut down of crucial oil operations. For Poloz, part of that calculation depends how quickly shuttered oilsands facilities go back online. The other major factor, […]
4 min read
The province of British Columbia is hosting an exercise to test the BC Earthquake Immediate Response Plan and promote interagency co-operation among both internal and external agencies that support emergency response. From Tuesday to Friday, Exercise Coastal Response, the province’s first full-scale earthquake and tsunami response exercise, will bring together stakeholders from all levels of […]
The sharing economy is not a new concept, but because it moves so quickly today, the insurance industry must innovate to catch up and reap the benefits, David Nelis, national CoE leader – casualty for Aon Risk Services, suggested last week during a seminar in downtown Toronto. “Here we have a new industry that didn’t […]
By Angela Stelmakowich | June 6, 2016
FORT MCMURRAY, Alta. – Farid El-Hayouni manages to keep it together until he sees what is left of his son’s bike. Along the drive up Highway 63 into Fort McMurray, he makes a series of matter-of-fact observations about what “the beast” spared and what it consumed. Most of the Beacon Hill neighbourhood burned to the […]
FORT MCMURRAY, Alta. – On May 3, patrons at the Wood Buffalo Brewing Company on downtown Fort McMurray’s main drag had to leave their pints and plates on the table as a massive forest fire breached the city and everyone had to flee. Bryan Newell, a project manager with the restoration company PuroClean, said it […]
By Canadian Underwriter | June 5, 2016
3 min read
Montreal-based Optimum General Inc. announced on Friday that is has launched a residential policy endorsement in Ontario and British Columbia which now covers overland water damages. Optimum General said in a press release that the endorsement, which was launched on Monday, makes it one of the first mid-sized insurers to offer the endorsement, which “until […]
By Canadian Underwriter | June 3, 2016
PERILS AG has revised its loss estimate for the United Kingdom storm Desmond, down again from the previous loss estimate of 662 million pounds to the most current estimate of 597 million pounds. The third loss estimate for the floods in the U.K., which occurred from Dec. 4 to 24, 2015, relates to storm Desmond […]
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