Topic
Markets / Coverages
Aviva Canada looking into electronic payments standard
February 22, 2018 by Jason ContantAs payment systems continue to modernize globally and locally, one Canadian insurer says it is hoping to explore opportunities related to its payment infrastructure. While it is not currently using ISO 20022, an international standard that supports electronic payments, Aviva…
Airbnb rentals being used for alleged human trafficking: Toronto police
February 22, 2018 Michelle McQuigge - THE CANADIAN PRESSToronto police say a recent case of alleged human trafficking is the latest in a growing trend involving people using Airbnb rentals to conduct their illicit transactions. Det. Sgt. Nunzio Tramontozzi said police have seen a surge in such cases…
How a new breed of car repair technician can drive down insurers’ repair costs
February 21, 2018 by Jason ContantNewer technology in vehicles is creating the need for a different skill set in collision repair facilities, something that could ultimately affect vehicle repair times for insurers. “This technology that is in the car now from a safety perspective brings…
Ontario PC leadership hopeful slams Liberals for delaying auto fraud office
February 21, 2018 by Greg MeckbachOntario PC leadership candidate Caroline Mulroney promises to do “more than just talk” about cracking down on insurance fraud if she becomes premier of Ontario this June. Ontario Liberal Finance Minister Charles Sousa announced this past December the provincial government…
Flooding prompts state of emergency and evacuations in Brantford, Ont.
February 21, 2018 The Canadian PressBRANTFORD, Ont. – Residents of a southern Ontario city were forced from their homes and businesses on Wednesday as rising flood waters from a local river prompted a state of emergency. Days of mild temperatures and torrential rain caused an…
Broker fined for unorthodox method of storing client documents
February 20, 2018 by David GambrillA B.C. broker has been fined $2,500 and ordered to complete a privacy compliance course after it was discovered that she was storing client documents in the locked garage of her home. Her time-honoured, paper-based method of storing documents came…
Why it costs more to fix your insured’s car (Hint: it’s not just the gadgets)
February 20, 2018 by Jason ContantAddressing the entire vehicle safety system after an auto collision, and not just one component like a sensor, may be contributing to longer auto repair times and higher costs for insurers, Mitchell International said Thursday. Jerry Gastineau, content manager with…
“No question” that Aviva Canada plans to hike auto rates: CEO
February 20, 2018 Greg Meckbach, Associate EditorThere is “no question” that Canada’s second-largest insurer, Aviva Canada, is contemplating country-wide rate increases in personal auto, Greg Somerville, the company’s president and CEO, told Canadian Underwriter Thursday. The cost of repairing vehicles with advanced technologies is one factor…
How ICBC can cut auto injury claims costs by more than $20 million
February 20, 2018 by Greg MeckbachBritish Columbia’s government monopoly auto insurer could save up to $27 million a year on claims costs and reduce the risk of legal disputes by taking on a “larger role” in designing plans to treat auto collision injuries, PriceWaterhouse Coopers…
One way car repairs may become cheaper
February 20, 2018 by Jason ContantVehicles with special materials such as high-strength steels, aluminum and carbon fibres are now contributing to an increase in severity potential and repair costs, but these costs may eventually decrease, Mitchell International said on Thursday. Preliminary data is showing the…
‘Behind in our preparation:’ Nunavut rushing to meet pot deadline
February 20, 2018 The Canadian PressIQALUIT, Nunavut – With marijuana legalization only months away, members of Nunavut’s new government are finally discussing how the territory will handle the change. “We do feel behind in our preparation,” said Dan Carlson, Nunavut’s deputy minister of finance. The…
How Internet of Things will change product liability
February 19, 2018 by David GambrillProduct liability could look very different in the future once the Internet of Things (IoT) connects a variety of insured household and business products, Clyde and Co. litigator Prachi Shah told Canadian Underwriter Friday. In existing IoT literature, we hear…