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…
People love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…
One aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier…
Repairs outlined in an insurance company’s assessment of damages at a British Columbia condo must be made by the strata, said a decision from the province’s Civil Resolution Tribunal (CRT). Applicants in Rolfe v. The Owners, Strata Plan EPS3064 claimed the…
Making up for the inability to travel during the pandemic is top of mind for 70% of Canadian millennials, who told an Allianz Global Assistance survey conducted by Ipsos they’ll be taking a vacation this year. Of those saying they’ll…
TORONTO – DesRosiers Automotive Consultants Inc. (DAC) says light vehicle sales in Canada in January were up 7.5 per cent compared with the first month of 2022. The automotive industry research firm estimates 98,259 new light vehicles were sold by…
Middle market and non-specialty insurers will be the central targets of consolidators into 2024, and some may even withdraw entirely from the P&C insurance market, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance…
A 2017 apartment fire that a B.C. Supreme Court judge ruled was ‘foreseeable’ led to an order to pay more than $500,000 to the building-owner plaintiff. In his decision in Langara Gardens Holdings Ltd. v. Chen (2023 BCSC 58), B.C.…
The Financial Services Regulatory Authority of Ontario (FSRA) is trying to determine how auto insurance rating factors affect vulnerable groups given the general lack of data, a senior executive at the regulator said during an industry event Thursday. Brian Sullivan,…
The P&C hard market isn’t going to soften anytime soon, but it will stabilize, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance Institute of Canada’s Industry Trends & Predictions: 2023 webinar. Why? The industry’s…
When severe weather events take place, not everything can be fixed overnight. There are only so many contractors and thousands of homes will likely need repairs ranging from major to minor. “It comes down to triaging and putting the insured…
Final numbers for 2022 show another year of NatCats reaching over $3 billion in insured damages (and, at $3.1 billion, the third highest total NatCat losses in Canadian history). Those figures don’t just point to more insured damages losses for…