Topic
Claims
5 key trends in the Canadian P&C market, according to Aon
May 18, 2022 Canadian Underwriter StaffP&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively…
New innocent co-insured law does not apply retroactively: Appeal Court
May 18, 2022 by David GambrillOntario’s new innocent co-insured law does not apply retroactively to claims events that happened before the legislation was passed, the Ontario Appeal Court has ruled. The co-insured rule restricts application of insurers’ policy exclusions for criminal acts only to those…
Crawford exec John Sharoun reflects on his 49-year-long insurance journey
May 18, 2022 by Alyssa DiSabatinoAfter a 49-year-long tenure in the insurance industry, John Sharoun, executive general adjuster and senior consultant at Crawford and Company Canada, is retiring on June 30, 2022. Sharoun fell into the industry between finishing school and looking for a…
Stock market volatility may spike E&O claims
May 17, 2022 Michelle SchriverInvestors are taking a turbulent ride as global stock markets correct and increasingly run the risk of entering recession territory. And, with some advisors’ clients ‘at the edge,’ that raises a red flag for errors and omissions (E&O) claims against…
Rising lumber, materials costs lead claims professionals to tweak their approach
May 16, 2022 Philip PoradoWith the inflation rate at a 30-year high, specialists handling home reconstruction claims are making adjustments that reflect surging prices for construction components – including lumber, finishing materials and appliances. What started as supply chain problems, some of which were…
Car owner vicariously liable for crash despite reporting her vehicle stolen
May 13, 2022 by David GambrillA car owner is vicariously liable for any damage or injury caused by the driver of their borrowed car, even if the owner places conditions on — or revokes — consent while the driver is still in possession of the…
Appeal Court green-lights key feature of B.C.’s no-fault auto reform
May 12, 2022 by David GambrillA central pillar of the B.C. government’s auto insurance reform — that the province’s Civil Rules Tribunal (CRT) has exclusive jurisdiction to determine minor injuries below $50,000, and not the courts — has been found constitutional by the B.C. Appeal…
4 insurance industry trends to watch
May 11, 2022 Tara KellyIn this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
What auto insurers need to deny coverage based on alleged suicide attempt
May 11, 2022 by David GambrillEditor’s Note: This article has been corrected so that all incorrect references to Unica have been replaced with correct references to Optium. Canadian Underwriter apologizes for the error. If an insurer wishes to deny auto coverage to an injured…
Unlicensed adjuster doesn’t fit the ‘expert’ exemption: Regulator
May 9, 2022 by David GambrillManitoba’s insurance regulator fined a former adjuster $500 and ordered him to pay partial investigation costs of $2,500 for acting as an adjustor without a licence and not, as the former adjuster claimed, as an ‘insurance expert’ helping claimants. Kenneth…
Don’t investigate fraud suspicions indefinitely, court tells insurer
May 6, 2022 by David GambrillIf an insurer suspects fraud in a house fire contents claim, it might be better to deny the claim within 60 days, alleging fraud, rather than to prolong the claims investigation indefinitely while asking for documentation from the insured that…
3 lessons about brokers’ obligations to insureds
May 6, 2022 Harmon C. HaydenA broker has an obligation to help clients understand policy specifics and avoid coverage gaps, and it’s not necessarily going to save them if the client hasn’t reviewed the policy, the British Columbia Court of Appeal found recently in Alvaro…