Claims
VANCOUVER – Rainfall, wind, snow and winter storm warnings have been lifted for all of southern B.C. after a powerful system swept across the province leaving flooded or snow-clogged roads in its wake. On Vancouver Island, torrential downpours forced flood watches or high streamflow advisories for several waterways and the deluge also prompted a boil […]
By The Canadian Press | January 4, 2019
1 min read
GANDER, N.L. – Residents of Gander, Nfld. are digging out after one of the biggest snowfalls ever recorded there – nearly two feet. A powerful storm blanketed much of the province Wednesday, with St. John’s and some other communities getting more than 40 centimetres. But it was Gander in central Newfoundland that was hardest hit, […]
By The Canadian Press | January 3, 2019
2 min read
Asset manager The Carlyle Group has closed its acquisition of a majority ownership of Sedgwick from KKR & Co. Inc. and other shareholders for an estimated $6.7 billion. Funds managed by Stone Point Capital LLC and Caisse de dépôt et placement du Québec, together with Sedgwick management, remain minority investors, Sedgwick said in a press […]
By Jason Contant | January 3, 2019
VANCOUVER – BC Hydro says December’s massive windstorm was the most damaging in its history and demonstrates improvements are needed in order to be ready for future outages. A report from the Crown corporation says the Dec. 20 storm was unlike any previous weather event BC Hydro had encountered. The report boosts the total number […]
By The Canadian Press | January 2, 2019
Industry
A Canadian risk manager is the new vice president of Risk and Insurance Management Society Inc., New York City-based (RIMS) announced Wednesday. Steve Pottle – director of risk management services for Thompson Rivers University in Kamloops, B.C. – was previously treasurer of RIMS. The 2019 president of RIMS is Gloria Brosius, RIMS announced Wednesday. By […]
By Greg Meckbach | January 2, 2019
Auto
CAA South Central Ontario (CAA SCO) has launched a cannabis education campaign geared toward young drivers. Research from CAA shows that there is a gap in awareness of the effects of using cannabis, specifically in young men. Men aged 25 to 34 are the most likely to drive under the influence of cannabis, many of […]
By Jason Contant | December 20, 2018
The hacking of a hotel reservation system affecting Sheraton, Westin, Starwood and Marriott could cost up to $600 million for direct losses alone, AIR Worldwide said this week. AIR, a subsidiary of Verisk Analytics Inc. that produces catastrophe loss models, said Wednesday it estimates losses would be $200 to $600 million. All figures are in […]
By Greg Meckbach | December 20, 2018
Product liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The insurance we maintain with respect to certain of these risks, including product liability and recall […]
An Alberta-based private equity company announced Tuesday it has entered into a letter of intent to acquire a 50% interest in a western Canadian-based property and casualty insurance company for $2 million. The Western Investment Company of Canada, a publicly traded company based in High River, Alta., said the acquisition represents about 90% of the […]
By Jason Contant | December 19, 2018
CoreLogic Inc. announced Wednesday it has closed its acquisition of Symbility Solutions Inc. Irvine, Calif.-based CoreLogic – which provides risk data on properties to property and casualty insurers – already owned 28% of Symbility, a Calgary-based vendor of claims processing and estimating software for insurers. A five-year agreement by CoreLogic to not increase its holdings […]
By Greg Meckbach | December 19, 2018
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