Topic
Claims
Three reasons why the hard market may drag on for years
August 12, 2020 by Greg MeckbachCommercial clients are likely to see big price hikes at least through 2021 and the economic impact of COVID-19 is partly to blame, a Bermuda insurance executive suggests. “We saw double-digit rate increases in our Canadian specialty business,” Albert Benmichol, CEO…
Forest fire continues to grow near town in northwestern Ontario
August 12, 2020 The Canadian PressRED LAKE, Ont. – Residents of Red Lake, Ont., continue to flee the community as a nearby wildfire continues to grow. A spokesman for provincial Ministry of the Solicitor General says aircraft are available to help with evacuations, and about…
Why this home insurer has a duty to defend a road rage claim
August 11, 2020 by David GambrillPembridge Insurance Company of Canada has a duty to defend an insured who has liability coverage under a home insurance policy in a case in which the insured got out of his car and allegedly threatened another driver in a…
The impact of Calgary’s hailstorm on North American H1 storm losses
August 11, 2020 by Jason ContantCanada’s costliest-ever hailstorm contributed to the largest insured losses in North America since the first half of 2011, according to preliminary natural catastrophe estimates from Swiss Re. The hailstorm that struck Calgary in June cost the industry $1.2 billion based…
Hot Lines
August 10, 2020 Greg Meckbach, Associate EditorA surge in directors and officers liability claims, withdrawal of some carriers from hospitality and high-profile cyberattacks are among the big trends now in commercial specialty
This insurer is allowing some COVID-19 support measures to expire
August 10, 2020 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) announced Friday that three of the temporary measures it introduced in response to the COVID-19 pandemic are set to expire in the coming weeks. The B.C. Utilities Commission had approved ICBC implementing the…
Property claim cycle times are on the rise: Xactware data
August 10, 2020 by David GambrillWhile everyone in the Canadian property and casualty insurance industry knows that quick claims response times are critical to consumer satisfaction, cycle times for property claims in Canada increased overall between 2018 and 2019, according to the latest property damage…
As provincial economies re-open, insurers eye their auto claims frequencies
August 10, 2020 by David GambrillAs if it weren’t enough with all of the recent news reports about natural catastrophe losses in Alberta, and claims against insurers for business interruption losses due to the COVID-19 pandemic, there is another, more familiar risk looming on the…
Community mourns Manitoba teens killed by tornado
August 10, 2020 The Canadian PressMELITA, Man. – The mayor of a small southwestern Manitoba town says everyone in the community is devastated after a tornado killed two well-liked teens. Bill Holden says residents in Melita are feeling profound grief since Shayna Barnesky and Carter…
Policies under the microscope
August 7, 2020 Greg Meckbach, Associate EditorHow the outcome of a test case in Britain over business interruption coverage during COVID-19 may reverberate throughout the Canadian commercial P&C market
Fraudsters exposed in COVID-19
August 6, 2020 Ephraim Stulberg, Partner, MDD Forensic AccountantsHere’s where, and why, insurers see more fraud claims being uncovered
COVID’s impact on Aviva’s first-half results
August 6, 2020 by David GambrillAviva Canada overcame high claims costs related to pandemic losses and severe-weather catastrophe events in Alberta to trim its combined operating ratio (COR) down from 98.1% in the first half of 2019 to 95.5% during the first half of this…