The industry will probably see well over 200 claims from the July 15 tornado that hit Barrie, Ont., says a wind damage expert who has looked at the affected area. “I expect the total number of damaged houses was about…
A property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone…
Hyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I…
Many homeowners opt not to buy overland flood coverage and this could leave them uninsured in the event of a severe rain storm. “Overland flooding is any water that comes into your house through the windows or door or anything…
Terri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division.…
The number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported.…
Boats with high-tech safety gadgets are starting to look a lot more like cars nowadays — and that means more expensive and difficult repairs, as Aviva Canada reports. “The big trend we are seeing right now in watercraft is big…
A court finding of bad faith can damage a carrier’s reputation and harm its broker relationships, an industry lawyer warned Tuesday. Of particular concern to carriers these days is the fact that the courts are lowering the bar for a…
Travel insurance is poised to start its post-COVID rebound, with Canadian governments relaxing restrictions to allow more travel within and between provinces. “The travel insurance market will definitely rebound from this, because people are not going to stop traveling; we…
Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel…
Brokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again. “I think the price has to reflect the…
Temple Insurance Company has won its appeal of a 2020 Court of Queen’s Bench of Saskatchewan ruling in a disputed construction wrap-up liability claim. Temple now has to pay some (but not all) of the legal defence costs incurred by…