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Container ship, heavily loaded, at sea.
News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

War and other factors loom over shipping sector: report

May 27, 2022 Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

sleeping woman in autonomous car. Driverless car. Self-Driving car. UGV (unmanned ground vehicle).
News ClaimsInsuranceLegalLegislation / Regulation

Regulations for insuring self-driving cars required sooner rather than later, lawyers say

May 27, 2022 by David Gambrill

Canada is not ready to insure even partially automated vehicles (AVs), but the move towards fully-automated vehicles could be here by as early as 2026, warn lawyers at Borden Ladner Gervais LLP. Provincial legislatures will therefore need to update their

Angry woman driving a car.
News ClaimsInsuranceLegal

Fume all you want, don’t hit erratic drivers in front of you

May 26, 2022 by David Gambrill

No matter how much a driver might fume about the slow driver ahead, the driver behind him is still responsible for maintaining a safe distance to avoid a collision — even if the slow driver tries to block the driver

Delta flooding after hurricane.
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesEngineeringInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How to speed up claims response for NatCats

May 25, 2022 Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

A twister is pictured at the end of a country road. The sky is dark and storming.
News AdjustersCatastrophesClaimsClimate ChangeInsurance

Was derecho storm damage caused by climate change?

May 25, 2022 by Alyssa DiSabatino

The Long Weekend derecho storm in Ontario and Quebec, which spawned a tornado in Uxbridge, Ont., and resulted in over 1,000 kilometers of damage, is “very difficult” to credit as a climate change event, even though the industry is seeing

Shot of a young man and woman going over building plans at a construction site
News ClaimsCommercial LinesConstructionEngineeringInsuranceLegal

Insurers must defend, even if damage falls below the deductible

May 24, 2022 by David Gambrill

Insurers have a duty to defend in construction cases involving policy exclusions for a “work performed” or “own work,” even if the amount of property damage claimed falls under the policy deductible, Ontario’s Court of Appeal has ruled. In GFL

Storm cloudscape over grass field
News BrokersCatastrophesClaimsClaims CanadaInsuranceRisk

First Cat of the year predicted after powerful “derecho” storm

May 24, 2022 by Alyssa DiSabatino

A series of powerful thunderstorms that affected Ontario and parts of Quebec this weekend is already being billed by the industry as the first major Cat of 2022. And while industry experts anticipate a large number of insured damages, one

Commercial building being rehabilitated
News AdjustersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRestoration

Brokers beware: High inflation may catch up to claims valuation software

May 20, 2022 Philip Porado

Valuation models in software systems used by insurers to calculate replacement and restoration costs for commercial structures must be checked more often when inflation’s running high. That’s because costs for labour, lumber, drywall, concrete and other construction materials can jump

Tow Truck Towing A Vehicle On A Two Lane Highway
News ClaimsClaims CanadaInsuranceLegal

Tow truck driver granted “absolute discharge” for his role in staged collision

May 19, 2022 by David Gambrill

Ontario’s Court for Appeal has given an “absolute discharge” to a tow truck driver who pleaded guilty to fraud under $5,000 – and served a six-month conditional sentence – for his role in a staged collision that cost two insurers

Map of Canada
News CatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 Canadian Underwriter Staff

P&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively

A rear view of a businessman as he places his hand on his head and looks up at random numbers from a clock face that appear on the wall in front of him.
News ClaimsInsuranceLegal

New innocent co-insured law does not apply retroactively: Appeal Court

May 18, 2022 by David Gambrill

Ontario’s new innocent co-insured law does not apply retroactively to claims events that happened before the legislation was passed, the Ontario Appeal Court has ruled. The co-insured rule restricts application of insurers’ policy exclusions for criminal acts only to those

News AdjustersClaimsClaims CanadaInsurance

Crawford exec John Sharoun reflects on his 49-year-long insurance journey

May 18, 2022 by Alyssa DiSabatino

After a 49-year-long tenure in the insurance industry, John Sharoun, executive general adjuster and senior consultant at Crawford and Company Canada, is retiring on June 30, 2022.   Sharoun fell into the industry between finishing school and looking for a