Topic
Adjusters
This decision on a $5,000 deductible could motivate condo corporations to change their bylaws
October 28, 2020 by David GambrillA recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,…
Industry execs to discuss how to navigate the condo insurance market
October 23, 2020 by David GambrillSelling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,…
How a smart phone can drive efficiency in the claims process
October 19, 2020 by Greg MeckbachUsing a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency…
Gushing over oil storage
October 18, 2020 Michael Freill, President, Mark 1 EngineeringHow Canada’s P&C insurers plugged a regulatory hole that exposed the industry to millions of dollars in claims every year
What business interruption coverage appeal to U.K. Supreme Court could look like
October 6, 2020 by Greg MeckbachBritish insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that…
Intact’s plan to help you advise your client on disaster resilience
October 2, 2020 by Greg MeckbachBy the end of this year, Intact Financial Corp. is hoping that a research centre it funds will have trained more than 140,000 brokers, home inspectors, realtors, and other professionals on how to make properties resilient to extreme weather, CEO…
Fight continues over proposal to acquire property data provider CoreLogic
October 1, 2020 by Greg MeckbachA proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing…
‘Much clearer picture’ of how Ottawa will address flood risk coming soon
September 29, 2020 by Greg MeckbachA special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,…
How the pandemic will change insurers’ medical assessments
September 23, 2020 by Greg MeckbachThe COVID-19 pandemic has prompted some insurers’ medical examiners to consider virtual exams instead of in-person exams when the examiner needs to speak with the claimant. “We work with a number of firms that provide independent medical assessments and evaluations…
Why restructuring firms are looking at their clients’ business interruption insurance
September 22, 2020 by Greg MeckbachSome clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for…
What’s driving D&O rate increases for privately-held firms
September 11, 2020 by Greg MeckbachLawsuits from employees alleging harassment or discrimination is one reason for significant price increases in directors’ and officers’ liability rates. In Canada, commercial brokerage Gallagher is seeing an uptick in age and gender discrimination claims and workplace harassment claims under…
How much these four Alberta cats cost insurers in 2020
September 10, 2020 by Greg MeckbachFour Alberta catastrophes this year have cost insurers a grand total of about $2 billion, the Insurance Bureau of Canada confirmed this week. A hailstorm June 13, affecting mainly northeast Calgary, topped the list as it caused about $1.2 billion…