Claims
Environment Canada reports two tornadoes touched down near Taber, Alberta, almost three hours southeast of Calgary, as part of a storm system passing through Alberta on June 7. There were no reports of injuries and a few barns were reported damaged. The storm system produced 36.2 mm of rain, prompting 150 calls to Calgary’s fire […]
By Canadian Underwriter | June 7, 2012
1 min read
The International Association of Insurance Supervisors (IAIS) is targeting risky, non-traditional activities of large insurance companies that may pose a threat to the global economy. “The potential for systemic risk within the insurance sector needs to be considered where insurers deviate from the traditional insurance business model and more particularly where they enter into non-traditional […]
By Canadian Underwriter | June 5, 2012
An Ontario court has ruled that a tort judgment and third-party costs arising from a building fire claim can be apportioned between a building owner and a property manager despite the fact the two parties defended the claim against them as one. In Aviva Insurance Company v. Lombard General Insurance Company, a fire swept through […]
2 min read
Canada can expect to see warmer temperatures in the summer months by 2050, leading to an increase in wildfires, drought, water scarcity, lightning flash density and the risk of hailstorms. Parts of the country will see more intense winter storms, more freezing rain and precipitation, as well as a significant decline in sea ice cover […]
By Canadian Underwriter | June 4, 2012
3 min read
Canada’s hurricane forecasting agency says 2012 will see average storm conditions, with only “one or two” tropical cyclone events affecting the Atlantic provinces. The Canadian Hurricane Centre (CHC) predicts that storm frequency will reflect predictions of near normal hurricane activity in the North Atlantic Ocean by the U.S. National Oceanic and Atmospheric Association (NOAA). The […]
Economical has voiced its preference for an initial public offering (IPO) as part of its intention to demutualize, but no final decision will be made absent clear regulations. Currently, Canada does not have regulations allowing property and casualty mutual insurers to demutualize. The federal government has entered into a public consultation process to help craft […]
If small towns burn among our forests or if water seeps into our basements and politicians are not around to listen, does the catastrophe make a noise? Shortly before we went to press, the Insurance Bureau of Canada (IBC) released research findings from a study by climate scientist Dr. Gordon McBean. The short version is […]
By David Gambrill, Senior Editor | June 1, 2012
Dr. Gregory Kopp, a professor of civil engineering at Western University, is a central figure in researching wind damage in aid of building safer homes.
By David Gambrill, Editor | June 1, 2012
6 min read
Industry stakeholders are working together to achieve technology solutions in the spirit of SEMCI - solutions that will allow brokers to work in the same manner regardless of the carrier with which they work.
By Renee Durepos, Vice President, Client Services, Keal Technology | June 1, 2012
5 min read
High-profile explosions at B.C. sawmills have seen some insurers bail out of the beleaguered market segment, although others seem poised to take advantage.
By Angela Stelmakowich, Editor | June 1, 2012
7 min read
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