Claims
An earthquake centred less than 100 kilometres from the nation’s capital, in the Western Quebec seismic zone, was felt in both Ottawa and Toronto Friday. At 9:43 a.m., a quake measuring 5.2 on the Richter scale was reported about 17 kilometres northeast of Shawville, Que., according to the Natural Resources Canada website. A 4.1 aftershock […]
By Canadian Underwriter | May 17, 2013
2 min read
Direct losses from disasters are approximately $2.5 trillion to date this century, according to a report from The United Nations Office for Disaster Risk Reduction (UNISDR). The United Nations has issued a stark warning to the world’s business community that economic losses linked to disasters are “out of control” and will continue to escalate unless […]
By Canadian Underwriter | May 16, 2013
4 min read
Claims costs related to dog bites are on the rise, accounting for a third of homeowners insurance liability claim dollars paid out in 2012, costing more than $489 million, according to the Insurance Information Institute in the United States. The institute’s analysis of homeowners insurance data in the U.S. found that the number of dog […]
With extreme weather patterns, protests that shut down cities and sudden economic downturns, it’s becoming more important for insurance carriers and their brokers to offer a wider variety of coverage, suggests Bob Dempsey, president and chief operating officer The Guarantee Company of North America. “The world has become full of extremes,” Dempsey said Wednesday during […]
By Canadian Underwriter | May 15, 2013
3 min read
An independent federal agency in the United States has issued recommendations for the country to help eliminate impaired driving, including reducing state blood alcohol content levels. On Tuesday, all five members of the National Transportation Safety Board unanimously voted on several recommendations, including reducing state BAC limits from 0.08 to 0.05 or lower. “The research […]
The Alberta government is promising to improve its disaster response and emergency planning based on recommendations from an independent report on the handling of the May 2011 Slave Lake wildfires. The 237-page report from KPMG looked at how the devastating fires were handled in terms of response and recovery efforts in the first three months […]
The Institute for Catastrophic Loss Reduction (ICLR) has showcased a Quebec home, retrofitted to reduce the impact of winter storms and earthquakes, as part of an ongoing effort to inform Canadians about preventing damage from extreme events. The Quebec City home, retrofitted in partnership with Desjardins Insurance, was unveiled during Emergency Preparedness Week, which ran […]
By Canadian Underwriter | May 14, 2013
Total overall economic losses caused by Hurricane Sandy are now estimated to be $72 billion, according to Aon Benfield’s Hurricane Sandy: Event Recap Report. Insured losses are estimated to be $30 billion, including the roughly $7.2 billion in payments made by the National Flood Insurance Program (NFIP) in the United States, according to Aon Benfield’s […]
The Ontario Court of Appeal last week upheld an environmental cleanup order made by provincial officials against a city in 2009 resulting from a spill of furnace oil from a residence whose owners had reached the limits of their insurance coverage. The City of Kawartha Lakes was not at fault for the spill but was […]
5 min read
The Ontario Court of Appeal last week ruled against Economical Insurance in finding that a woman injured 20 years ago as a child in an uninsured vehicle owned by and driven by her father is entitled to benefit from her mother’s uninsured coverage on two other vehicles which were not involved in the accident. In […]
By Canadian Underwriter | May 13, 2013
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