A high percentage of today’s pool of risk managers has been working in the industry a long time, and the next largest group are fairly new to the business. Those in the younger group “are excited about what they’ve done…
Canadian P&C carriers appear to be taking claims adjusting expenses in-house more often than several years ago, a trend of concern to the independent adjusting community. The good news is that net loss ratios since 2006 and the proportion of…
The storm that struck Ontario and Quebec — leaving some Quebecers without power for more than a week — was large, but it was nothing compared to the infamous 1998 Quebec ice storm, industry professionals said. Catastrophe Indices and Quantification…
Editor’s Note: This article has been corrected to show that the Motor Vehicle Accident Claims Fund (MVACF) has a $200,000 maximum legal liability and not $250,000, as initially reported. Canadian Underwriter apologizes for the error. Spouses don’t have to…
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…
Developing and effectively using the pool of Canadian claims adjusters for catastrophe response is a problem that continues to keep adjusting firms up at night, experts told a CatIQ Connect panel on Wednesday. “Most people don’t realize that seven of…
The president of the Grape Growers Association of Nova Scotia says it will take years for vineyards to recover from the recent extreme cold snap. Steve Ells says between 95 and 100 per cent of Nova Scotia-grown vinifera variety grapes…
A New Brunswick woman injured in an auto accident is not entitled to resume her accident benefits payments 13 months after returning to work, the province’s top court has ruled. New Brunswick’s Court of Appeal sided with her auto insurer,…
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…
Wind and water claims make up the bulk of the ‘bomb cyclone’ weather event that swept through eastern Canada during the holidays last month, adjusters told Canadian Underwriter. Much of North America was bombarded by heavy snowfall, strong winds and…
Thanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…
Supply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys…