Industry
The industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The June 13 storm cost the industry nearly $1.2 billion, IBC reported July 8, quoting Catastrophe […]
By Greg Meckbach | July 16, 2020
3 min read
OTTAWA – Canada’s deputy public health chief says going inside a bar to have a drink with friends remains a high-risk activity in the era of COVID-19. Dr. Howard Njoo’s reminder Tuesday came just days before Ontario starts to allow indoor dining and drinking at restaurants and bars as much of the province, and as […]
4 min read
A British Columbia strata owner is not liable for damage to the unit immediately below as a result of a burst toilet supply line, the province’s Civil Resolution Tribunal has ruled. The September 2018 plumbing mishap happened in a strata unit owned by Xiu Feng Guan. The water flowed through the floor into a unit […]
By Greg Meckbach | July 15, 2020
Old infrastructure and combined sewer systems mean that severe thunderstorms like the one seen last week will continue to leave basements flooded for years to come, leaving insurers and claims professionals busy, according to an industry expert. “When you get a storm like this hitting an older part of town, that’s when you start getting […]
By Adam Malik | July 15, 2020
The marine insurance sector saw a huge drop last year in the number of total shipping losses but the industry continues to have a problem with shippers trying to sneak hazardous and flammable cargo on board without declaring it. “Dangerous goods must be appropriately handled and stowed, which is not possible when the contents of […]
2 min read
OTTAWA – The Bank of Canada is holding its key interest rate at 0.25 per cent in response to what it calls the “extremely uncertain” economic outlook from the COVID-19 pandemic, and plans to keep it there until the picture improves. In its updated outlook, the bank said Wednesday it expects the economy to contract […]
Opportunities for insurance in the e-sports space has grown to a point where it can’t be ignored, says an industry observer. Video gaming is at an all-time high during the COVID-19 pandemic, according to information collected by data and measurement firm Neilsen. Eighty-two percent of global consumers played video games and watched video game content […]
By Adam Malik | July 14, 2020
When it comes to the Canadian P&C industry offering digital solutions to its customers during the COVID-19 pandemic, it seemed that the virtual landscape was a Brave New World just four months ago. Digital mailboxes, videoconferencing, electronic pink slips and e-Signatures all emerged rapidly in a world dominated by the novel coronavirus, which caused about […]
By David Gambrill | July 14, 2020
HALIFAX – A group of students, alumni and some staff at St. Francis Xavier University are pushing back against a legal waiver that students are required to sign if they want to return to classrooms in the fall amid a global pandemic. The university in Antigonish, N.S., is offering a mix of digital and classroom […]
By Greg Meckbach | July 14, 2020
Nunavut and the Northwest Territories are feeling the effects of insurers pulling out of both areas. “We had Aviva Elite, who wrote probably all of the mobile homes in the Northwest Territories, discontinue writing [that line],” says Mark Harris, the president of Hay River, NWT-based Norland Insurance Agencies. “And Travelers Insurance in the last 12 […]
By Canadian Underwriter Staff | July 14, 2020
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