Claims
A ruling last fall by Ontario's Superior Court of Justice, revolving around a personal injury claim, clearly demonstrates that making a determination with respect to costs before trial is not only difficult, it could prove both an expensive and risky proposition.
By Richard Horak, Partner, Hughes Amys LLP|Richard Horak, Partner, Hughes Amys LLP | December 31, 2014
6 min read
A case before the Supreme Court of Canada, involving a US$9.5 billion judgment in a pollution lawsuit outside of Canada, has been “closely watched” because of a “large potential liability” faced by petroleum firm Chevron over alleged environmental damage in Ecuador and potential “significant impacts” on Canadian firms with affiliates operating outside of Canada, lawyers […]
By Canadian Underwriter | December 23, 2014
5 min read
PORTLAND, Maine – A proposed settlement fund for victims of a fiery train derailment that claimed 47 lives in Canada is nearly halfway to a goal of $500 million in funding commitments ahead of its filing next month, the defunct railroad’s bankruptcy trustee said. More than a dozen corporations that face potential liability in the […]
3 min read
COLOMBO, Sri Lanka – Three people died and more than 60,000 had to be evacuated to safer locations due to floods and mudslides caused by heavy rains around Sri Lanka, officials said Tuesday. The Disaster Management Center said that three days of heavy rain in 15 districts also injured two persons and destroyed 1,900 homes. […]
1 min read
PERILS AG has released a final property market loss estimate of 420 million euros for damage wreaked by windstorm Dirk about a week before the close of 2013. The storm affected the United Kingdom and France when the storm hit Dec. 23 to 25 last year, notes a statement Tuesday from PERILS, an insurance industry […]
2 min read
OMAHA, Neb. – When American freight trains delivered cargo after World War II, the steam-belching beasts commonly had seven people aboard – an engineer, a conductor, up to four brakemen and a fireman. Trains have since grown much longer, seemingly stretching to the horizon and often taking 20 minutes to pass through a crossing. And […]
By Canadian Underwriter | December 22, 2014
4 min read
The United Kingdom government – in the wake of ongoing negotiations with the Association of British Insurers (ABI) and Flood Re – announced last Thursday that an agreement has been reached on a number of matters regarding how Flood Re will operate. The agreement means people in the highest flood risk areas will be better […]
The Insurance Bureau of Canada (IBC) is using the one-year anniversary of the Ontario ice storm that caused more than $200 million in insured losses to remind all concerned that the storm was not an anomaly and preventive measures must be taken to guard against extreme weather events. On Dec. 20 last year, rain, freezing […]
With 12 days to go before the United States Terrorism Risk and Insurance Act (TRIA) expires, a risk modeling vendor predicts that commercial insurers who continue to cover terrorism in the U.S. after Dec. 31 will “likely be required to maintain higher capital standards,” while a commercial broker is warning there is “limited capacity” in […]
By Canadian Underwriter | December 19, 2014
The Canadian Association of Petroleum Producers (CAPP) is urging the New Brunswick government to reconsider its decision Thursday to move forward with prohibiting hydraulic fracturing in the province. CAPP is calling on the provincial government to hold off on the proposed moratorium and to work with industry and communities to keep the door open for […]
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