Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Insurance Bureau of Canada attempted to respond to a recent piece on the Fort McMurray Alberta rebuild following the fire in 2016. The magazine has not printed the response. The following is IBC’s position. The recent article by Nicholas Köhler…
Read more →
When an insurance representative makes the decision to bind a new homeowner’s policy, does he/she have all the information needed in order to get a full picture of the risk before it is taken onto the company’s balance sheet? Said…
Read more →
A small city that wasn’t designed to burn was put up in the middle of the Boreal forest that was designed to burn. Are we simply going to put Fort McMurray back the way it was? Fortunately for insureds in…
Read more →
“Conversation about the weather is the last refuge of the unimaginative.” – Oscar Wilde Clearly, Mr. Wilde – expert as he was at crafting witticisms – never spent any time in an insurance office. Our industry has a longstanding history…
Read more →
Along with claiming a reported 49 lives (at time of posting), injuring thousands and causing between $1.7- and $2.9 billion in insured damage (according to AIR), the April 14 (UTC) 6.4Mw and April 15 (UTC) 7.0Mw earthquakes in Kumamoto, Japan…
Read more →
A couple of posts ago (Why ‘just-in-time’ insurance would be a non-starter) I answered a question that I get asked at least a few times a year: ‘Why not allow consumers to purchase insurance just before a foreseeable loss is…
Read more →
The National Building Code and the building codes of each province and territory in Canada are some of the best in the world, as are local building inspection practices. And Canadian homebuilders most certainly construct some of the best homes in the world.
But there is always room for improvement, and as severe weather gets fiercer and more pervasive, this need will only become more acute.
Read more →
Once again a big storm was forecast, once again, it failed to materialize (at least for many New Yorkers and New Jerseyans) and once again meteorologists are being criticized for dropping the ball. What’s more, weather models are also being blamed for at least part of the failure and people are, of course, again making the statement “If I was as wrong as often as the weather man, I’d be out of a job.”
Read more →
It was raining in Oakville, but it was nothing worth writing home about, just a normal run-of-the-mill summer storm. But as soon as I crossed the boundary into Burlington, that changed. I was quite amazed at the experience: after a…
Read more →
As a centre of excellence for basement flood risk reduction, ICLR never advises that just a backwater valve will reduce the risk (indeed, we have 20 tips to reduce basement flooding). Yet Canadian insurers have taken to advising insureds to…
Read more →
Monk v. Farmers’ Mutual Insurance Co. (Lindsay), [2014] O.J. No. 3509, illustrates the importance of the policy language used. Ontario Superior Court Justice Koke summarily dismissed this action against both the insurer and insurance broker arising from an insurance coverage claim…
Read more →
The EF2 tornado that tore through Angus, Ontario June 17 damaged 102 recently built homes in the small community located just west of Barrie. Ten or 11 homes lost their roofs entirely. These homes will have to be razed and…
Read more →
From an insurance perspective, essentially all of the large-loss hail events recorded in Canada have occurred in Alberta. Indeed, the top three most expensive hailers on record took place in that province. Emergency Preparedness Canada’s website lists the September 7,…
Read more →
At this is being written, Western’s University’s Storm Damage Assessment Team is on the ground in Angus, Ontario working with Environment Canada (EC) to rate a tornado that ripped through town at about 5:20 p.m. on June 17. The team…
Read more →