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B.C. auto claimant wins dispute over ‘declared value’ in total loss

November 26, 2021 by Greg Meckbach

The Insurance Corporation of British Columbia has been ordered to pay an extra $5,000 to a client whose vehicle was badly damaged on a trip from California. In Link v. ICBC, released Nov. 25, the province’s civil resolution tribunal ruled

News CatastrophesClaimsClaims CanadaInsurance

Prime minister approves request for military help as Newfoundland deals with flooding

November 26, 2021 THE CANADIAN PRESS

CHANNEL-PORT AUX BASQUES, N.L. – Prime Minister Justin Trudeau has approved a request for military assistance for southwestern Newfoundland, where road washouts from a punishing rainstorm have left the region cut off from the rest of the province. Trudeau issued

News ClaimsClaims CanadaEmploymentInsuranceLegislation / RegulationRisk

What OSFI’s insurance head says about return-to-work

November 19, 2021 by Greg Meckbach

Staff retention, professional development and the risk of worker isolation are among the factors the industry needs to think about when deciding on an approach to working remote or in the office. “As the pandemic eases and restrictions are lifted,

News ClaimsClaims CanadaInsuranceLegalLegislation / Regulation

Supreme Court of Canada rules against BC trial lawyers in disputed subrogated Ontario auto claim

November 18, 2021 by Greg Meckbach

If the Trial Lawyers Association of British Columbia had its way, auto insurers would have an incentive to go the “extra mile” in trying to find reasons to deny claims, two Supreme Court of Canada judges suggested in a decision

News ClaimsClaims CanadaCommercial LinesInsuranceLegalLegislation / Regulation

How Ontario direct compensation-property damage affects temporary loaner vehicles

November 17, 2021 by Greg Meckbach

An Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a

News ClaimsClaims CanadaInsuranceLegislation / Regulation

What FSRA says about the ‘take all comers’ auto insurance rule

November 16, 2021 by Greg Meckbach

Ontario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

How much Intact has improved its personal property loss ratio

November 15, 2021 by Greg Meckbach

As home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe

News ClaimsClaims Canada

Why Intact is paying out less on total auto losses

November 10, 2021 by Greg Meckbach

Intact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher

News AdjustersClaimsClaims CanadaInsuranceLegalLegislation / Regulation

Court rules Ontario auto insurer’s request for claimant data ‘unnecessarily invasive’

November 8, 2021 by Greg Meckbach

An Ontario judge has turned down a request by Aviva Insurance Company of Canada to order a claimant to produce banking records showing the location of vendors from which that claimant had made purchases. In November, 2020, an Aviva auto

News CatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / Coverages

Three reasons Fairfax predicts a continuing hard market

November 5, 2021 by Greg Meckbach

As carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based

News CatastrophesClaimsClaims CanadaInsurance

Homeowners loss ratio drops to 49.1% for this Top 10 insurer

November 3, 2021 by Greg Meckbach

Canada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance

News AdjustersCatastrophesClaimsClaims CanadaInsuranceRestoration

Barrie tornado will cost more than originally estimated

October 28, 2021 by Greg Meckbach

A bad storm system this past July will probably cost the industry about $100 million. On July 15, several tornadoes touched down in central Ontario. One caused irreparable damage to dozens of homes in Barrie, about 100 kilometres north of