Topic
Adjusters
Why it’s taken a year to get Lytton, B.C.’s post-wildfire rebuild underway
June 29, 2022 by David GambrillTo the naked eye, not much has changed since Lytton, B.C. was razed by a June 30, 2021 wildfire, causing an estimated $100 million in insured damage. Coming up on the fire’s one-year anniversary, debris-removal work has finally begun for…
Will rocketing consumer prices spark social inflation?
June 24, 2022 Philip PoradoWhile consumers are paying close attention to inflation’s impact on their wallets, insurers should be keeping an eye on social inflation – and recognize the two are often linked. “There’s quite a distinction between the impact of what I would…
Why adjusters are feeling squeezed during Cat response
June 3, 2022 by Alyssa DiSabatinoAs NatCats increase in frequency, getting adjusters to the scene of a claim has been “tougher than it’s been in years past.” Claims experts blame economic strain and inflationary pressures, as well as to the ongoing war for talent. Following…
Why insureds might need parametric coverage alongside conventional policies
June 1, 2022 Megan LinkinWhen Hurricane Ida made landfall on Aug. 29, 2021, a handful of parametric insurance policies in Swiss Re Corporate Solutions’ portfolio were affected and potentially triggered. By Sept. 1, all relevant data for determining if the hurricane’s winds met policy-defined…
Adjusters stretched thin after back-to-back storms
May 31, 2022 by Alyssa DiSabatinoManitoba has experienced one of the wettest springs on record, and the back-to-back storms and flooding have stretched adjusters’ resources very thin, claims professionals say. Strong winds and a rainstorm that occurred in Manitoba last evening have continued into today. This event…
How to speed up claims response for NatCats
May 25, 2022 Yasser Korany, Mario Delorme and Mazen HabashExtreme 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…
Was derecho storm damage caused by climate change?
May 25, 2022 by Alyssa DiSabatinoThe 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…
Brokers beware: High inflation may catch up to claims valuation software
May 20, 2022 Philip PoradoValuation 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…
Crawford exec John Sharoun reflects on his 49-year-long insurance journey
May 18, 2022 by Alyssa DiSabatinoAfter 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…
Rising lumber, materials costs lead claims professionals to tweak their approach
May 16, 2022 Philip PoradoWith the inflation rate at a 30-year high, specialists handling home reconstruction claims are making adjustments that reflect surging prices for construction components – including lumber, finishing materials and appliances. What started as supply chain problems, some of which were…
What auto insurers need to deny coverage based on alleged suicide attempt
May 11, 2022 by David GambrillEditor’s Note: This article has been corrected so that all incorrect references to Unica have been replaced with correct references to Optium. Canadian Underwriter apologizes for the error. If an insurer wishes to deny auto coverage to an injured…
Unlicensed adjuster doesn’t fit the ‘expert’ exemption: Regulator
May 9, 2022 by David GambrillManitoba’s insurance regulator fined a former adjuster $500 and ordered him to pay partial investigation costs of $2,500 for acting as an adjustor without a licence and not, as the former adjuster claimed, as an ‘insurance expert’ helping claimants. Kenneth…