While inflation’s pace has eased in Canada, it’s still expensive to put homeowners back into their properties after a fire, flood, wind or other event. That’s because lingering supply chain and labour-shortage issues are extending restoration timelines. And that’s increasing…
COVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood. But those changes can make some…
Tens of thousands of Canadians have been forced to evacuate because of an active wildfire season, and a new home-sharing digital platform dedicated to insurance is expanding nationally to help adjusters find temporary accommodations for insureds whose homes have been…
Ongoing reserve uncertainty may reduce insurers’ risk appetite, thereby sustaining hard market conditions, according to a new report by Swiss Re. “Direct non-life insurers in advanced markets have on average released prior-year loss reserves, although the pace has been slowing…
When a NatCat occurs in Canada, it’s common for U.S. adjusters to be on the scene — sometimes before Canadian adjusters, who are bound by provincial licensing restrictions. And while processes for getting either country’s adjusters on the scene are…
Brokers placing directors and officers (D&O) insurance coverage should recognize the growing importance of how private company clients manage both environmental, social and governance (ESG) and diversity, equity and inclusion (DEI) concerns. Those issues are of increasing concern to the…
Want to increase the likelihood of a construction project insurance claim being accepted? Take the time to validate each aspect of that claim. The upfront work will make it easier for any umpires, mediators, consultants or lawyers brought in to…
A recent U.K.-based, climate lawsuit launched against Shell plc’s board of directors by NGO ClientEarth may lead to “copycat” litigation in Canada, lawyers warn, potentially affecting the D&O line of commercial insurance. “Corporate climate litigation is still in its infancy…
COVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that…
The frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…
Wind and water claims make up the bulk of the ‘bomb cyclone’ weather event that swept through eastern Canada during the holidays last month, adjusters told Canadian Underwriter. Much of North America was bombarded by heavy snowfall, strong winds and…
Thanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…