Claims
ALBANY, N.Y. – The operators of a limousine that crashed and killed 20 people in upstate New York were grossly negligent in putting the “dangerous and defective” vehicle on the road, according to a lawsuit filed Monday by one of the victim’s parents. Amanda Rivenburg, 29, was among 18 people in the limousine that barrelled […]
By Greg Meckbach | November 20, 2018
1 min read
Insurers might be unintentionally covering flood and fire risks arising from computer problems, a cyber expert with a risk modelling firm suggests. “Anything that is related to a computer system could trigger non-cyber losses,” Matt Honea, cyber director for Cyence Inc., said in an interview. Cyence is the analytics and data services unit of Guidewire […]
By Greg Meckbach | November 19, 2018
2 min read
When a store on the main floor of a condo building suffered $25,000 in losses from a flood, the strata corporation was on the hook for the $5,000 deductible. The strata corporation tried to recover the $5,000 deductible from a plumbing firm, but the plumbing firm is not responsible, the British Columbia Civil Resolution Tribunal […]
CALGARY – Alberta law enforcement officials say they are worried that the legalization of marijuana could lead to potentially explosive consequences for users taking a do-it-yourself approach to making cannabis derivatives at home. Just over a month ago, Canadians were given the right to purchase dried and fresh cannabis and unconcentrated forms of cannabis oil. […]
3 min read
Risk
The Ontario government announced Thursday it plans to “review how auto insurance rates are regulated” and confirmed the government will still run the Motor Vehicle Accident Claims Fund. A review of rate regulation will be done “jointly with the Financial Services Regulatory Authority of Ontario,” the government said in its 2018 Ontario Economic Outlook and […]
By Greg Meckbach | November 18, 2018
A British Columbia broker that got acquired by a unit of The Co-operators Group Ltd. is in breach of contract with RSA Canada-owned Canadian Northern Shield, an Ontario court has ruled. In 2008, Vancity Insurance Services Ltd. was a brokerage placing home insurance with several carriers, including Canadian Northern Shield. The brokerage “conceived and initiated […]
4 min read
VANCOUVER – A report from BC Hydro says despite soaring numbers of powerful storms or wildfires that cause power outages, the Crown utility is still managing to respond quickly to trouble spots through the use of new technology. The report looked at the effects of increasingly severe weather systems which Hydro blames on climate change. […]
By The Canadian Press | November 16, 2018
Canada’s highest court announced Thursday it will not hear a dispute arising from a vehicle repairman who got hurt while test-driving a customer’s car. The dispute is over a provision in Ontario Regulation 283/95 that sets out rules for auto insurers who receive an accident benefits claim and think a different insurer should pay. The […]
By Greg Meckbach | November 15, 2018
The Insurance Bureau of Canada (IBC) has recommended a single insurance policy to cover driver negligence and automated technology to facilitate liability claims associated with autonomous vehicles. “The automated vehicle’s insurer would compensate injured people if the automated vehicle caused a collision, regardless of whether the human operator or automated technology was in control,” IBC […]
By Jason Contant | November 15, 2018
The International Accounting Standards Board (IASB) has voted to propose a one-year deferral of the effective date for IFRS 17 to 2022. Insurance companies globally have lobbied for the extension as they prepare their transition to the International Financial Reporting Standards (IFRS), a new standard for reporting financial results. The date towards which companies have […]
By David Gambrill | November 15, 2018
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
