Topic
Claims
Cybersecurity issue delays in-person classes at Newfoundland’s Memorial University
January 3, 2024 The Canadian PressST. JOHN’S, N.L. – A Memorial University campus in western Newfoundland is the latest Canadian post-secondary institution to be grappling with what officials are calling a “cybersecurity incident.” The beginning of most in-person classes for the winter semester at Memorial’s…
Homeowners discuss the high insurance costs of wildfires
January 2, 2024 Michael Tutton - THE CANADIAN PRESSHALIFAX – Seven months after a wildfire left a charred, 1,000-hectare scar on the western suburbs of Halifax, less visible damage persists in the lives of those who lost their homes to the flames. Lindsay Law said the financial and…
MPI’s Top 5 auto fraud claims of 2023
January 2, 2024 by Jason ContantA customer who claimed amnesia following an auto collision and another who said their symptoms were so severe they were unable to work were among Manitoba Public Insurance’s (MPI) Top 5 fraud claims of 2023. Every year, it’s estimated auto…
2024 Executive Outlook |Greg Smith, Crawford & Company
December 27, 2023 Canadian Underwriter StaffGreg Smith, president of Canadian operations, Crawford & Company Macro industry trends, including the impact of climate on claims frequency, the growing talent gap, and technology integration, will continue to be significant stories in 2024. But fraud is an emerging trend…
Introducing our 2024 Executive Outlook series
December 19, 2023 by David GambrillIn the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,…
Holly, jolly claims follies
December 18, 2023 by David GambrillIt wouldn’t be the holiday season without someone trying to ignite their house by attaching burning candles to the Christmas tree. An internet search for “crazy Christmas claims” finds insurance broker websites rife with holiday-related claims in the neighbourhood of…
How insurers can manage losses as NatCat events ramp up
December 18, 2023 Philip PoradoWhatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
Do auto clients ask for trouble by hiking deductibles?
December 15, 2023 Philip PoradoDuring the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
Can Canada’s P&C industry catch up to NatCats?
December 14, 2023 Philip PoradoIn much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
How restoration firms are growing in Canada
December 14, 2023 by Alyssa DiSabatinoWith natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements. Intact subsidiary On Side Restoration has acquired Superior Disaster Services Ltd., in a deal that closed Dec.…
Power outages drag on after powerful windstorm sweeps through the Maritimes
December 13, 2023 The Canadian PressHALIFAX – Tens of thousands of residents across the Maritimes woke up Tuesday without electricity as utility crews scrambled to repair downed power lines after a powerful windstorm roared over the region on Monday. More than 23,000 Nova Scotia Power…
How economic woes hike minor accident claims
December 13, 2023 Philip PoradoCurrent economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds are taking place more frequently, she told CU, with many taking place…