In this year’s second annual Jim Abernethy Challenge, the Leukemia & Lymphoma Society of Canada hopes Canadian P&C insurance professionals can help top last year’s $500,000 contribution to blood cancer research and community support. The Jim Abernethy Challenge is part…
It’s not your imagination, COVID-19 really did throw a wrench into the insurance industry’s ability to hire and retain talent, says a new Deloitte report on the state of Canada’s P&C industry. It found industry demand for people with the…
A long-burning forest fire in Newfoundland has charred over 10,800 hectares, but one claims professional says they’ve yet to see any claims come through, since the affected areas are not densely populated. The fire has been burning for close to…
To 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…
While 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…
As 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…
When 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…
Manitoba 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…
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…
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…
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…
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…