Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Lawsuit Filed in Illinois Over Canadian Train Explosion
Aug 5 2013 // The family of one of 50 people who died in a fiery Canadian oil-train explosion is suing the train’s Illinois owners. The wrongful death case was filed in Cook County Circuit Court on behalf of relatives of Jean-Guy...
CP Rail Subcontracted to MMA in Quebec Train Crash; Coverage an Issue
Aug 1 2013 // Canadian Pacific Railway, hired to transport oil from North Dakota to New Brunswick, subcontracted part of the job to the small railroad involved in the deadly crash in Lac-Megantic, Quebec, the company that chose the...
U.S. Safety Rule for Oil Trains Delayed for Year
Jul 31 2013 // The Obama administration has delayed by nearly a year a plan to boost safety standards for the type of rail car involved in a fiery explosion that killed at least 47 people in Canada this month. Officials began work on the...
Toronto Dominion Bank Warns of Insurance Losses from Weather Claims
Jul 31 2013 // Toronto-Dominion Bank, Canada’s second-largest lender, said it will take a third-quarter charge after tax of C$418 million (US$406 million) due to recent severe weather in Alberta and Ontario and to boost its...
Canada Insurer Industrial Alliance Targets C$500 Million Deal for Asset Manager
Jul 24 2013 // Industrial Alliance Insurance and Financial Services Inc., the best-performing Canadian insurer in the past year, plans to acquire a money manager in what would be the company’s biggest takeover. Industrial Alliance...
Travelers’ Q2 Profit Climbs 85% to $925M; Auto Unit Layoffs Planned
Jul 23 2013 // The Travelers Companies today reported net income of $925 million for its 2013 second quarter, an 85 percent jump from $499 million net income posted a year ago. The insurer credited lower catastrophe losses and continued...
Canada’s Intact Financial Sees $454 Mn Flood Losses; $24.2 Mn Train Crash
Jul 23 2013 // Canadian P&C insurer Intact Financial said it expected quarterly results would be hurt by losses from a train derailment and fiery explosion in a Quebec town and storm and flood damage in Canada’s oil capital,...
Canadian Investigators Want Rule Changes after Deadly Rail Crash
Jul 22 2013 // Canadian investigators issued their first recommendations on Friday after a devastating train wreck in Quebec, urging that trains hauling dangerous goods not be left unattended, and pushing for stricter guidelines on...
SCOR Estimates Net Pre-tax Losses from Alberta Floods at $52 Million
Jul 18 2013 // French reinsurer SCOR Group announced that “the June flood event in Alberta, which resulted in mass evacuations of people from their homes and major disruption to the Central Business District of Calgary, may...
Deadly Quebec Train Crash Creates Fertile Ground for Lawsuits
Jul 11 2013 // As investigators try to piece together how a parked oil freight train broke free and demolished the heart of a small Quebec town last weekend, a barrage of litigation could soon be hitting everyone from the U.S. rail...
Guy Carpenter Facilitates Launch of Multi-Peril Crop Insurance in Australia
Jul 10 2013 // Guy Carpenter & Co., LLC, a global risk and reinsurance specialist and member of Marsh & McLennan Cos. has facilitated the launch of a Multi-Peril Crop Insurance (MPCI) product for Australian grain growers for the...
Oil Tank Cars Like Those in Quebec Rail Tragedy Long Seen as Flawed
Jul 10 2013 // The oil-laden train that derailed and exploded in a small Canadian town on Saturday, possibly killing as many as 50 people, included a class of railcar whose vulnerability to leaks and deadly explosions was well known to...
Flash Flood Triggers Blackouts, Transport Chaos in Toronto: AIR Analysis
Jul 10 2013 // Catastrophe modeling firm AIR Worldwide reports that “after days of heavy precipitation, a torrential thunderstorm on July 8th dropped an additional ten centimeters [app. 4 inches] of rain on Canada’s largest...
How a Runaway Train Devastated Canadian Town; 13 Dead, 37 Missing
Jul 9 2013 // The short length of track, nestled in a dark pine and birch forest in Quebec, is a regular overnight stop for freight trains hauling crude oil and other raw materials across North America. Normally, before retiring for the...
Five Dead, 40 Missing After Crude Oil Freight Train Explosion in Canada
Jul 7 2013 // At least five people died and 40 were missing on Sunday after a runaway train carrying crude oil derailed and exploded in the center of a small Canadian town in a disaster that raised fresh questions about shipping oil by...
Canada Seeks $1B Clean-Up Fund by Major Oil Pipelines
Jun 27 2013 // Companies operating major crude oil pipelines in Canada will be required to have C$1 billion ($954.97 million) available to fund clean ups from any spills, the Canadian government said on Wednesday. Joe Oliver,...
Calgary Flood Caused Power Outages May Last Months; Insurance Coverage Minimal
Jun 24 2013 // Power outages in the Canadian oil capital of Calgary could last for weeks or even months, city authorities said on Sunday, as record breaking flood waters moved downstream to threaten smaller communities in southeastern...
Analysts: Travelers/Dominion Deal Makes Sense, More U.S.-Canadian M&A May Follow
Jun 18 2013 // The Travelers Companies’ decision to acquire Dominion of Canada General Insurance, a unit of E-L Financial Corp., for $1.1 billion makes strategic sense, according to analysts. The acquisition now allows Travelers to...
Canada’s P&C Insurers to Expand with ‘Receivables Insurance Association’ Launch
Jun 18 2013 // The Canadian property and casualty insurance industry is expanding with the launch of the Receivables Insurance Association of Canada. “Less than 1 percent of Canadian companies currently utilize receivables...
Travelers Eyes Canada Growth with $1.1B Acquisition of The Dominion
Jun 10 2013 // The Travelers Companies Inc. said it has agreed to acquire The Dominion of Canada General Insurance Co. from E-L Financial Corp. Limited for approximately $1.1 billion in cash with an eye on expanding its commercial lines...
