Claims
QUEBEC – The Quebec government is adding its name to a list of creditors seeking money from the insolvent railway company at the heart of the Lac-Megantic train disaster. The government says it is seeking $409 million from the Montreal, Maine & Atlantic Railway for expenses incurred and yet to come stemming from the tragedy. […]
By The Canadian Press | June 16, 2014
1 min read
Zurich Insurance Group has published two new research papers as part of its global flood resilience program, focusing both on successful measures used recently, and the future impact severe flooding may have. One report, which was produced as part of a multi-year collaboration with the Institute for Applied Systems Analysis and the Wharton School at […]
By Canadian Underwriter | June 13, 2014
2 min read
After three years of industry-wide insured losses from severe weather exceeding $1 billion per year, Canadian insurance carriers need to “re-think” how they price their coverage and what they cover, suggests the head of a major Canadian carrier. “Unfortunately it has become a trend for the last four or five years,” said Fabian Richenberger, president […]
Western and Central Europe has been pummelled by severe thunderstorms, which have brought with them extremely strong and damaging winds, large hail, rampant lightning strikes and heavy downpours, AIR Worldwide reports. “The storms have affected a large area as far south as northern Italy and east into Poland, although the worst hit are Germany, France and […]
Now that the Ontario Liberals have a majority government, they reportedly plan to re-table a budget in which they proposed to prohibit credit unions from promoting auto and home insurance online and to develop an office dedicated to investigating and prosecuting “serious fraud,” including fraudulent auto insurance claims. Meanwhile, the provincial insurance brokers’ association is […]
6 min read
MIAMI – Hurricane Cristina has weakened to a Category 2 storm off Mexico’s Pacific coast. The hurricane’s maximum sustained winds had decreased early Friday to near 105 mph (165 kph). And the U.S. National Hurricane Center says Cristina is expected to weaken to a tropical storm on Saturday. Cristina is centred about 325 miles (525 […]
The Supreme Court of Canada plans to rule on the question of whether a province can suspend the driver’s licence of a person who has been discharged from bankruptcy after failing to pay, in full, money owed to that province’s fund for victims of accidents of uninsured drivers. The highest court announced Thursday it has […]
By Canadian Underwriter | June 12, 2014
3 min read
The Financial Services Commission of Ontario has announced that the registration for access to its new dispute resolution services portal is now available for insurance companies and law firms. The pilot phase for use of the portal is set to end July 2, when its use will be mandatory for insurance companies and law firms, […]
DETROIT – U.S. safety regulators are investigating whether 1.1 million vehicles from five automakers have air bags that could hurt people in a crash. The National Highway Traffic Safety Administration said it opened the probe Wednesday after getting six reports of air bags rupturing. Three people were hurt when struck by air bags or parts, […]
PLASTER ROCK, N.B. – The Transportation Safety Board says fatigue caused a wheel to fail on a freight train that derailed earlier this year in northern New Brunswick, sparking a fire that burned for days. The CN train was hauling crude oil and liquefied petroleum gas when 19 cars and a locomotive went off the […]
By The Canadian Press | June 12, 2014
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