Topic
Claims
How insurers benefit from a green balance sheet
October 17, 2022 by Alyssa DiSabatinoCanada’s property and casualty insurers can grow their premiums and pay out fewer claims if they insure and invest in natural assets, including riverbanks, ponds and wetlands, according to case studies contained in the Intact Centre on Climate Adaptation’s new…
Why Lloyd’s has to defend a progressive property damage case
October 17, 2022 by David GambrillLloyd’s of London has a duty to defend the City of Timmins in a negligence lawsuit, in which homeowners are suing the city for failing to prevent progressive land erosion that led to an order to remove, relocate or demolish…
What do downtime policies cover for truck owners?
October 17, 2022 Kevin Thomas and Tony MilitelloBusinesses operating trucks can see their livelihoods impacted by unforeseen incidents like mechanical failures, accidents, fires or vehicle thefts. For properly insured businesses, these incidents may result in downtime claims. And those claims often require careful consideration of limitations — because…
How inflation is factoring into reinsurance results
October 17, 2022 by Jason ContantThe first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.…
Nova Scotia legislation would require storm readiness by telecommunications companies
October 13, 2022 The Canadian PressHALIFAX – Nova Scotia is proposing legislation that would require telecommunications companies to be better prepared for weather events like post-tropical storm Fiona or risk stiff fines. Amendments to the Emergency Management Act and the Emergency 911 Act would…
Public complaints about insurers in decline
October 13, 2022 by David GambrillIt’s getting less ornery out there, if the number of public complaints against insurers is a reliable measuring stick. The General Insurance OmbudService (GIO) received 4,370 contacts from insurance consumers across the country in 2022, with 174 of them escalated…
How new truckers can get a better ‘insurance experience’
October 13, 2022 Philip PoradoTo reduce claims rates for Alberta-based trucking companies, and loss ratios for commercial trucking insurers, an Insurance Bureau of Canada (IBC) executive said training regimens aimed at improving the quality of drivers entering the sector needs to improve. At 120…
How carriers can save money — and the environment — through claims
October 12, 2022 by Alyssa DiSabatinoA new claims solution may help carriers save costs during the claims process while also saving the environment. Through the new EcoClaims pilot program — which diverts waste from landfills by recycling flooring and drywall during the claims and restoration…
Condo association calls for changes to help corporations recoup losses
October 11, 2022 by Jason ContantQuebec’s association representing condo corporations is reiterating a call on the newly re-elected provincial government to amend the Civil Code of Quebec to allow condo corporations to better recover losses from co-owners. Currently, condo corporations (called syndicates in Quebec) are…
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…