Claims
OTTAWA – Climate change is leading to more wildfires and the country needs a national forest firefighting strategy, says B.C. Premier Christy Clark. While the country has been transfixed by the raging fires around Fort McMurray in northern Alberta, British Columbia’s interior is experiencing similar fire conditions this spring that have received far less attention. […]
By Jason Contant | May 19, 2016
3 min read
EDMONTON – The Alberta government says people from the fire-ravaged city of Fort McMurray could start going home starting June 1 if conditions are safe, but warned there will only be basic services and a partially open hospital. “Remember, many hazards remain in Fort McMurray,” Premier Rachel Notley said Wednesday. “We need to address all […]
By Steve Wilson | May 19, 2016
4 min read
In a possible but unlikely scenario of sea level rise, 1,160 private properties in San Francisco with a total exposure value of $20 billion, could be at risk in 84 years if no resilience measures are put in place, according to a recent report that uses data from Risk Management Solutions Inc. “Our preliminary estimate […]
By Canadian Underwriter | May 19, 2016
Canada needs a “thoughtful, sustainable approach” to address losses associated with severe weather, including floods and fires that are expected to become a growing problem in future, Don Forgeron, president and CEO of Insurance Bureau of Canada (IBC), suggested in a speech Wednesday. “The devastating wildfires, which continue to burn in Northern Alberta, are the […]
Guy Carpenter & Company announced on Tuesday the formation of a strategic alliance with global cybersecurity company Symantec Corporation to create a cyber aggregation model. The model will include a comprehensive catalogue of cyber scenarios from which insurers can derive frequency and severity distributions to measure the potential financial impact of loss from both affirmative […]
By Canadian Underwriter | May 18, 2016
2 min read
The Institute for Catastrophic Loss Reduction (ICLR) has launched what it’s calling the first program in the world that sets out actions that insurance companies can take to strengthen the disaster preparedness of homeowners by “building back better” homes after a disaster strikes. The ‘Insurers Rebuild Better Homes’ program identifies best practices for the design […]
Nine out of ten businesses in the United States have experienced at least one hacking incident in the past year, according to a survey released on Tuesday by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. According to HSB, the number of attacks increased 21% from 2015. Eric Cernak, cyber […]
Ours is a noble profession and you should be proud of the important work you do, every day – delivering the product of the Property & Casualty Insurance Industry in Canada. The Ontario Chapter of the Canadian Independent Adjusters’ Association (CIAA) and The Canadian Insurance Claims Managers Association (CICMA) recently collaborated on their 49th annual […]
By Fred Plant, President, Canadian Independent Adjusters' Association | May 18, 2016
Introduction In Monk v. Farmers’ Mutual Insurance Co. (Lindsay), [2015] ONCA 911, the Court of Appeal reversed the motion judge’s decision1 that the “faulty workmanship” exclusion applied to both direct and indirect damages. The Court ruled that the motion judge’s interpretation of the exclusion was overly broad and that the damage to the insured’s property […]
By Michael S. Teitelbaum, partner; and Ashley Peacock, associate Hughes Amys | May 18, 2016
6 min read
Onboard cameras can minimize fraud, encourage early settlements and save insurance companies costs
By John Seyler, President, Integrated Insurance Resources Inc.; and Mike Furyk, student-at-law, Blouin Dunn LLP | May 18, 2016
5 min read
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