Claims
There was a continued trend of fewer natural hazard events overall in the United States for 2015, resulting in decreased damage and loss totals for the year, according to the annual Natural Hazard Risk Summary and Analysis, released by CoreLogic, a provider of consumer, financial and property information, analytics and services. Despite the continued trend, […]
By Canadian Underwriter | January 29, 2016
4 min read
Aviva Canada and RBC Insurance’s recently announced 15-year strategic agreement – which includes Aviva’s $582 million purchase of RBC General Insurance Company – will have implications for those selling retail personal insurance from a broker perspective, suggested speakers at the P&C Crystal Ball 2016 conference on Thursday. Likewise, Economical Insurance’s announcement this week that it […]
By Canadian Underwriter | January 28, 2016
The average auto insurance premium in Ontario is 7% lower than it was nearly three years ago – when Ontario’s ruling Liberals pledged to cut auto rates by 15% over two years – and an Insurance Bureau of Canada official is expecting more reductions over the next quarter. “Several insurers have already hit the government’s […]
5 min read
The City of Edmonton has become the first in Canada to legalize ridesharing services. The City of Edmonton said in a media release on Wednesday that council has approved a new vehicle for hire bylaw, which will allow technology-based companies, such as mobile app dispatchers like Uber, to operate legally in Edmonton under a new […]
3 min read
The Supreme Court of Canada announced Thursday it will hear an appeal from a motorist who was charged with driving while impaired by drugs, where a central issue is the admissibility of opinion evidence of a police drug recognition expert. Carson Bingley was tried and acquitted of operating a motor vehicle while drug-impaired. After the […]
The Canadian Radio-television and Telecommunications Commission (CRTC) announced on Wednesday that it executed a warrant under Canada’s anti-spam legislation (CASL) at two locations in the Niagara region of Ontario. The warrant – granted by a justice from the Ontario Court of Justice and executed with the assistance of police officers – was obtained as part […]
By Canadian Underwriter | January 27, 2016
2 min read
Although 144A property and casualty (P&C) cat bond primary issuance levels were charted as “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels seen in 2014, according to GC Securities. On Wednesday, GC Securities, a division of MMC Securities LLC, a United States registered […]
All municipalities in Prince Edward Island (PEI) developing new subdivisions will now be required to use a specific web-based tool for incorporating climate change as part of their design and site evaluation processes. The climate change tool was created by professor Slobodan P. Simonovic at Western University in London, Ont. Simonovic is also director of […]
By Canadian Underwriter | January 26, 2016
Two of the most destructive fires in California’s history, the Valley and Butte Fires, caused an estimated US$1 billion in insurance losses, the California Department of Insurance (CDI) said on Monday. The two wildfires ravaged nearly 150,000 acres in northern California last fall. The Valley fire destroyed 1,958 structures in Lake, Napa and Sonoma counties, […]
Allianz Global Risks US Insurance Company is applying to the Supreme Court of Canada for leave to appeal a ruling over a disputed $14.94-million property insurance claim arising from an addition to a hospital in Victoria, British Columbia. Essentially, Allianz and three other carriers that wrote a course-of-construction property policy are arguing that the losses […]
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