Claims
Merchant Law Group LLP has launched a $75-million class action lawsuit against Plains Midstream Canada ULC in connection with the oil spill near Sundre, Alberta that occurred in early June 2012. Approximately 475,000 litres of sour crude oil leaked into Jackson Creek near Sundre, the Merchant Law Group says in an online statement announcing the […]
By Canadian Underwriter | June 25, 2012
1 min read
Several lawyers are protesting recently announced changes to the definition of catastrophic injury for accident victims by quitting an auto insurance committee created by the Financial Services Commission of Ontario (FSCO). The Toronto Star reported the group of personal injury lawyers, who include Richard Halpern, partner at Thomson Rogers, Roger Oatley of Oatley Vigmond Personal […]
By Canadian Underwriter | June 22, 2012
2 min read
A Quebec man killed when a tree fell on the vehicle he was driving in the City of Westmount must turn to the province’s auto insurer for compensation, the Supreme Court of Canada has ruled, thus rejecting the man’s civil lawsuit against the city. In August 2006, a tree in the City of Westmount fell […]
Several behavioural biases prevent individuals and firms in the private sector from investing in adaptation measures that can help protect against catastrophic risks, making the case for public-private partnerships, suggests a recently released paper. Behavioural biases include budgeting based on experience rather than analysis, discounting the benefits of reducing potential losses from future events relative […]
By Canadian Underwriter | June 21, 2012
Almost 30 insurance companies and insurance associations from different regions around the world, including Canada, have joined a UN-backed process to promote a set of Principles for Sustainable Insurance. The initiative was announced at the UN Conference on Sustainable Development, known as Rio+20, held in Rio de Janeiro, Brazil on June 20-22, 2012. The principles […]
The percentage of clients buying environmental insurance has increased in recent years, although there has been a parallel decrease in the amount of limits purchased, a recent report from Marsh Inc. indicates. “With increasing frequency, companies are requiring their contractors to carry environmental insurance — regardless of the contractor’s level of environmental exposure,” Marsh reports […]
By Canadian Underwriter | June 20, 2012
Canadian property and casualty insurance brokers are making a pitch to the Canadian Council of Insurance Regulators (CCIR) to ensure intermediaries play an important role in the online purchase of insurance. At a minimum, brokers are calling on the CCIR to require that an insurance intermediary be accessible to consumers at all times during the […]
Regina will serve as home to the new Canadian Safety and Security Program (CSSP), which seeks to strengthen the country’s public safety and national security priorities. The program aims to enhance Canada’s ability to anticipate, prevent, prepare for, respond to and recover from natural disasters, serious accidents, crime and acts of terrorism, notes a statement […]
By Canadian Underwriter | June 19, 2012
The B.C. River Forecast Centre issued a flood warning on June 19 for the Upper Fraser River, after heavy rainfall triggered evacuation alerts and a local state of emergency in neighbouring communities. Between 30 and 75 millimetres of rain have fallen in the past three days, the centre reports. The warning indicates river levels have […]
A hailstorm that pounded the Dallas area on June 13 could result in insurance claims of up to $2 billion, according to the Southwestern Insurance Information Service (SIIS). “Based upon the claims filed within the past 36 hours, this storm could reach $1.5 billion to $2 billion in insured losses,” SIIS President Sandra Helin said […]
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