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Aon Benfield suggests Brantford flooding will cost “tens of millions”

March 9, 2018 by Jason Contant

Aon Benfield’s catastrophe model development team, Impact Forecasting, is estimating total economic and insured losses in the tens of millions (U.S. dollars) for the recent flooding in southern Ontario. Catastrophe Indices and Quantification Inc. (CatIQ) told Canadian Underwriter in late

News CatastrophesClaimsEarnings / RatingsInsurance

Aviva Canada seeks average 5% rate increase in personal home and auto lines

March 8, 2018 by David Gambrill

Aviva Canada is putting through an average rate increase of 5% in personal home and auto lines after reporting a combined operating ratio of 102% in its 2017 year-end results. Aviva Canada’s net written premium increased by 15% in 2017

News CatastrophesClaimsInsurance

January winter storm largely battered one province

March 8, 2018 by Jason Contant

A winter storm in central and eastern Canada at the beginning of the year caused more than $54 million in insured damage, with the majority of damage being in Quebec, Catastrophe Indices and Quantification Inc. (CatIQ) reported Thursday. Of the

News ClaimsClimate ChangeInsurance

Growing frequency, height of storm surges worries mayor

March 8, 2018 The Canadian Press

LIVERPOOL, N.S. – Another weekend of storm surges in Nova Scotia has a south shore mayor calling for provincial help to cope with the rising impact of climate change on waterfronts. The mayor of the Region of Queens Municipality said

News ClaimsInsuranceTechnology

How mobile apps can help expedite total loss appraisals

March 7, 2018 by Jason Contant

Mobile apps that allow policyholders to upload photos of damaged vehicles from auto accidents can help speed up the claims process, particularly for those involved in a total loss, the president of the Canadian Independent Adjusters Association (CIAA) said on

News ClaimsInsuranceLegal

$14,833 insurance claim dismissed after eight years for “abuse of process”

March 7, 2018 by David Gambrill

Ontario’s Superior Court recently dismissed, as an “abuse of process,” eight years of legal proceedings launched by a plaintiff against Peel Mutual Insurance Company over a $14,833.77 break-and-enter claim that was dismissed by Small Claims Court in September 2011. “These

News ClaimsInsuranceMarkets / CoveragesTechnology

For how long will a ransomware attack knock out your client’s operations?

March 5, 2018 by Jason Contant

Companies in Canada and the United States can expect one week of downtime as a result of a ransomware attack, speakers said at NetDiligence’s recent Cyber Risk Summit in Toronto. “A decryption effort, even in the best case scenario, is

Opta
insPRESS AnnouncementsClaimsInsuranceTechnology

Opta Information Intelligence and Risk Management Services Combine Forces to Meet Evolving Needs of Canadian Insurers

March 5, 2018 Opta Information Intelligence

TORONTO, March 5, 2018 /insPRESS/ – Opta Information Intelligence (Opta) and sister company Risk Management Services (RMS) are proud to announce the integration of the two companies. Going forward we will be expanding our suite of services and innovation solutions for the

News ClaimsLegalTechnology

One easy way to reduce ransomware risk

March 2, 2018 Greg Meckbach, Associate Editor

Risk managers who teach employees what suspicious email looks like can drastically reduce the risk of being hit with ransomware, a commercial insurer executive said Wednesday. Ransomware is when criminals hack into computer systems, encrypt files and demand a ransom

News ClaimsClimate ChangeInsurance

Flood risk training for home inspectors coming in September

February 28, 2018 by Greg Meckbach

Training home inspectors to assess properties for risk of basement flooding is the “most positive action” the industry can take to address the problem of flood-damaged homes, a conference speaker told insurance professionals Tuesday. A new course for home inspectors,

News CatastrophesClaims

Ontario flooding a “wakeup call” for homeowners to check their policies: IBC

February 27, 2018 by Greg Meckbach

Ongoing flooding issues in southern Ontario are a “wakeup call” that homeowners should be reviewing their water damage coverage, Insurance Bureau of Canada (IBC) cautions. Several communities, including Brantford, Chatham and London, experienced flooding due to mild temperatures and several

News ClaimsInsuranceMarkets / Coverages

Checking a claimant’s auto case evidence? Ask for the LTD discovery transcript

February 26, 2018 by David Gambrill

An insurer in an accident benefits case has obtained a court order requiring a claimant to turn over the discovery transcript in a related long-term disability (LTD) claim arising from the same accident. Ontario’s rules for handling auto accident benefits