Topic
Claims
Are driver shortages fuelling a spike in Alberta trucking claims?
October 11, 2022 Philip PoradoBorder crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified…
Is cyber insurance upticking across Canadian organizations?
October 11, 2022 by Alyssa DiSabatinoSeventy-four per cent of organizations across Canada have decided to invest in cyber insurance in 2022 compared to 59% in 2021 despite increasing costs and requirements, finds a survey from the Canadian Internet Registration Authority (CIRA). However, most organizations…
How large property loss claims can become larger — and how to avoid it
October 7, 2022 by Alyssa DiSabatinoA large property loss claim can be worsened by theft or adverse weather events during the initial logistics stage if insurers don’t act quickly, a contractor expert warned during the Ontario Insurance Adjusters Association’s claims conference in Toronto Wednesday. Insurers…
Brokerage’s 11-year lawsuit against tech vendor allowed to continue
October 7, 2022 by David GambrillBallam Insurance Services, a Nova Scotia brokerage that sued its tech vendor 11 years ago over server issues, is allowed to proceed with its case despite examples of ‘inordinate’ and ‘inexcusable’ delays, the Supreme Court of Nova Scotia ruled Monday.…
Many Canadians are driving more but are they telling their insurers?
October 6, 2022 Canadian Underwriter StaffInsurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more…
GRC policy includes increased compliance costs for rebuild, court rules
October 5, 2022 by David GambrillGuaranteed replacement cost (GRC) coverage for rebuilding a flooded home in an area regulated by a conservation authority includes the increased regulatory compliance costs required for the rebuild, Ontario’s Superior Court has ruled in Emond v. Trillium Mutual Insurance Company.…
How do truck owners calculate downtime claims?
October 5, 2022 Kevin Thomas and Tony MilitelloWhen a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due…
No way to enforce fire codes on First Nations, and new law would be costly: document
October 5, 2022 Stephanie Taylor - THE CANADIAN PRESSOTTAWA – There is no way to enforce building or fire codes on First Nations and pursuing a legislative fix would require significant time and money, federal officials warn in an internal briefing document. But Blaine Wiggins, the senior director…
How commercial insurers can mitigate claims costs
October 4, 2022 by Alyssa DiSabatinoAlthough inflationary pressures are adding to the cost of first- and even third-party property claims, commercial insurers can leverage their global resources to reduce these costs, says a commercial insurance exec. “[Inflation] affects the cost to restore a building,” said…
Hockey Canada’s board to answer to feds
October 4, 2022 The Canadian PressOTTAWA – Hockey Canada’s board chairs, past and present, will answer to the federal government today on the hockey body’s handling of alleged sexual assaults and how money was paid out in lawsuits. Former chair Michael Brind’Amour and interim chair…
How Hurricane Ian will strain insurers’ capacity
October 3, 2022 Philip PoradoHurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive…
What cyber insurers can learn from property insurance policies
October 3, 2022 by Alyssa DiSabatinoAn increase in frequency and severity of cyber insurance claims may be on the horizon, but insurers may be able to stick-handle this risk by taking inspiration from property insurance programs, said one cyber expert during a Canadian Underwriter webinar.…