Claims
The Court of Appeal for Ontario has ruled that Unifund Assurance Company does not have a duty to defend or indemnify under a homeowners insurance policy costs stemming from the bullying of a Grade 8 student, which caused physical and psychological injuries, by fellow students. Heard May 21, 2015, the unanimous decision earlier this month […]
By Canadian Underwriter | June 26, 2015
5 min read
LOS ANGELES – Firefighters investigating a reported petroleum stench at a Central California beach last month didn’t take long to realize a spill had taken place – oil was spreading across the sand and into the surf. Tracing the source, they found crude gushing from a bluff like a fire hose “without a nozzle,” records […]
4 min read
Quindell Plc, which has offices in Fareham, United Kingdom and Toronto and whose subsidiaries include ingenie and iter8, announced on Wednesday that it has requested the temporary suspension of trading in its shares from AIM, the London stock exchange. The U.K.’s financial regulator, the Financial Conduct Authority, confirmed on Wednesday that it has commenced an […]
By Canadian Underwriter | June 25, 2015
2 min read
RIMS, the risk management society, said earlier this week that it supports the reintroduction of the Captive Insurers Clarification Act that would officially omit captives from the Nonadmitted and Reinsurance Reform Act (NRRA), providing risk professionals with greater clarity on expenses associated with their organization’s captive investment. RIMS said in a press release that the […]
After a thorough investigation by a specialized fire cause investigator, British Columbia’s Wildfire Management Branch (WMB) determined on Wednesday that the Elaho wildfire was caused by lightning, not people, as previously believed. The fire is burning about 67 kilometres west of Pemberton and is currently 40% contained. According to the WMB, the fire, estimated at […]
By Canadian Underwriter | June 24, 2015
Global financial services businesses encounter security incidents 300% more frequently than other industries, according to a report released on Tuesday by Raytheon | Websense, a company that helps protect organizations from cyber attacks and data theft. The 2015 Financial Services Drill-Down Report found “a high degree of specialization among criminals attacking financial services, a huge […]
By Canadian Underwriter | June 23, 2015
WASHINGTON – Failure to act on climate change could cause an estimated 57,000 deaths a year in the United States from poor air quality by 2100, the Obama administration argued in a report released Monday that warns of dire effects of global warming. The report says inaction on climate change could cost billions of dollars […]
3 min read
Global risk and reinsurance specialist Guy Carpenter & Company, LLC, a wholly owned subsidiary of Marsh & McLennan Companies, on Tuesday released a briefing predicting a “below average” 2015 Atlantic hurricane season. According to the briefing, “hurricane activity for the Atlantic Basin is projected to be below average for the 2015 season, although impactful landfalls […]
A Mississauga, Ontario-based brokerage, Bullfrog Insurance Ltd., announced Tuesday it will quote and bind coverage for some small businesses over the Internet. The brokerage stated its online quote and bind service targets contractors, retailers, healthcare and office professionals. Policies can be purchased by credit card. Coverages offered include liability, property and auto, among others. Bullfrog’s […]
1 min read
Cunningham Lindsey Canada, an independent claims adjusting service company, said on Tuesday that it has deployed five adjusters to Australia to join a team working on the thousands of claims that followed severe storms in early May. The adjusters will remain in Australia for six to eight weeks; another two adjusters have been requested and […]
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