Claims
The Manitoba government said Wednesday that it has already been implementing many of the recommendations included in a recently released task force report about how major flooding in 2011 was handled. The government said it has accepted the findings from the independent 2011 Flood Review Task Force and the Lake Manitoba and Lake St. Martin […]
By Canadian Underwriter | April 11, 2013
2 min read
Late-season winter weather was the cause for much of the damage inflicted by natural catastrophes in March, notes the latest monthly report from Impact Forecasting, the catastrophe modeling arm of Aon Benfield. Europe was hit particularly hard by heavy snowfall, below freezing temperatures, high winds, ice and flooding, and the continent has at least 30 […]
By Canadian Underwriter | April 10, 2013
Losses from an average severe thunderstorm in the United States have increased significantly since the end of the 1980s, supporting the finding in a peer-reviewed study that changing climatic conditions have already influenced those losses. The research was produced in connection with a co-operation project between Munich Re and the German Aerospace Center. “Some regions […]
By Canadian Underwriter | April 9, 2013
A task force appointed to review how the Manitoba government and various agencies handled intense flooding throughout 2011 has released its final report, which includes 126 recommendations on preparing for and handling future events. Flooding during 2011 was major, affecting 154 provincial roads and highways, 500 municipal roads, 73 damaged highway provincial structures and 500 […]
By Canadian Underwriter | April 8, 2013
3 min read
Toyota Motor Corporation has agreed to pay $16 million to settle consumer protection claims brought by the Orange County District Attorney (OCDA) following the automaker’s recalls of certain vehicles in 2009 and 2010 related to unintended acceleration issues. The recalls affected almost 6 million vehicles as a result of “the risk of unintended acceleration caused […]
Extreme precipitation events will become more intense as rising concentrations of greenhouse gases allow for more moisture in a warmer atmosphere, suggests a study led by the National Oceanic and Atmospheric Administration in the U.S. Extra moisture due to a warmer atmosphere will lead to “notable increases in the most intense precipitation rates,” says an […]
By Canadian Underwriter | April 5, 2013
Canada needs to harness the collective power of government and the private sector now – before the next big storm, fire, quake or flood, Sharon Ludlow, president and CEO of Swiss Re Canada, said during the global reinsurer’s 28th annual Canadian Industry Outlook Breakfast in downtown Toronto on Thursday. Citing the National Disaster Mitigation Strategy […]
By Canadian Underwriter | April 4, 2013
The vast majority of Quebec residents, and most British Columbia residents do not have earthquake insurance but many are under the mistaken impression that standard policies cover it or expect the government will bail them out, an Insurance Bureau of Canada official suggested Thursday. IBC recently conducted a survey on Canadian attitudes and expectations around […]
An arbitrator for the Financial Services Commission of Ontario recently ruled against Belair Insurance Company Inc. in a claim which the carrier said fell under the minor injury guideline (MIG). The provincial government introduced in September 2010 a $3,500 cap on payments for injuries that fall under the MIG. That cap was one of several […]
By Canadian Underwriter | April 3, 2013
4 min read
The Ontario Court of Appeal recently upheld a lower court decision in favour of Lombard General Insurance Company of Canada, which was sued by a Hamilton-based scrap metal dealer, for not defending or indemnifying it when it was sued by a vice president who was injured on the job but not covered by provincial workers’ […]
5 min read
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