Industry
The Calgary Flames have filed a $125-million lawsuit against its insurers to enforce the terms of an all risks insurance policy for “massive losses” due to the COVID-19 pandemic. The named defendants in the statement of claim filed in the Calgary Court of Queen’s Bench are Westport Insurance, Royal and Sun Alliance Insurance Company […]
By Alyssa DiSabatino | March 23, 2022
3 min read
EDMONTON – The Alberta government is getting mostly check marks from the province’s auditor general over how it handled the billion dollars it got from Ottawa to clean up abandoned oil and gas wells and get service contractors back to work. Doug Wylie said in a report tabled Tuesday that the Site Rehabilitation program was […]
By The Canadian Press | March 23, 2022
2 min read
MGAs and insurers continue to report increased severity and frequency of cyber claims. In fact, in-house data shows cyber claims have been increasing for years, said Lindsey Nelson, cyber development leader at CFC Underwriting. Simultaneously, the take-up of cyber insurance is also seeing an increase. But given the overall unprofitability of the line, how are […]
By Phil Porado | March 22, 2022
Saskatchewan Government Insurance (SGI) saved approximately $6 million in 2021 from “hundreds of people” attempting to make fraudulent claims, the public insurer reported last week. “SGI’s Special Investigations Unit (SIU) investigates wild and wacky insurance claims, many of which turn out not to be true,” the government insurer said in a press release. SGI’s Top […]
By Jason Contant | March 22, 2022
The hard market may be the broker's greatest challenge, but stats show it's vastly improved the P&C industry's financial health.
By David Gambrill | March 22, 2022
Editor’s Note: This story has been updated to include information from Insurance Bureau of Canada. The Liberal party’s campaign promise to include a higher surtax on the financial sector is one step closer to being implemented, which means higher taxes for P&C insurers. However, the exact structure of the surtax has yet to be clarified. […]
By Alyssa DiSabatino | March 22, 2022
OTTAWA – The National Research Council took down parts of its website after it was hit with a “cyber incident.” A brief statement on the council’s main webpage Monday did not specify what kind of incident occurred or which applications had been taken offline. In an email, a spokesperson said actions were taken immediately when […]
By The Canadian Press | March 22, 2022
The limitation period under a family protection endorsement runs from final judgement or settlement, the Court of Queen’s Bench of Alberta has decided. Master in Chambers Brian Summers examined a case involving para. 6(c) of the SEF 44 Family Protection Endorsement, finding that the “interpretation most favourable to the insured is that the limitation runs […]
By Jason Contant | March 21, 2022
4 min read
KAMLOOPS, B.C. – The director of provincial operations for British Columbia’s wildfire service says the province needs a “holistic,” large-scale program to reduce wildfire risk, starting in backyards, moving to communities then extending to forested lands. Cliff Chapman says planning is underway to decide how new funding will be used to increase the service’s capacity, […]
By The Canadian Press | March 21, 2022
HALIFAX – An engineering study looking at three options to save the land link between Nova Scotia and New Brunswick from climate-related flooding is pegging costs at between $189 million and just over $300 million. The study released today suggests either raising the height of the existing 35 kilometres of dikes for an estimated $200 […]
By The Canadian Press | March 18, 2022
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