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5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 Canadian Underwriter Staff

P&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

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News ClaimsInsuranceLegal

New innocent co-insured law does not apply retroactively: Appeal Court

May 18, 2022 by David Gambrill

Ontario’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

Upside down vehicle after car accident on forest road
News Insurance

Two auto physical damage trends of concern to one insurer 

May 18, 2022 by Jason Contant

Definity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage.  “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase

News AdjustersClaimsClaims CanadaInsurance

Crawford exec John Sharoun reflects on his 49-year-long insurance journey

May 18, 2022 by Alyssa DiSabatino

After 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

Concept of inflation at the grocery store
News Insurance

Inflation rate up slightly in April to 6.8 per cent: Statistics Canada

May 18, 2022 The Canadian Press

OTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared

insPRESS Insurance

Best Practices to Prevent Workplace Fraud

May 18, 2022 Ecclesiastical Insurance Office

TORONTO, ON, MAY 18, 2022/insPRESS/ – According to the Association of Certified Fraud Examiners (ACFE), the typical workplace fraud case in Canada results in an average loss of approximately $90,000 with statistics showing billing schemes to be the most common, present

Wildfire burning in Ontario
News Insurance

Forest fire in northeast Ontario community forces residents to evacuate

May 17, 2022 The Canadian Press

A forest fire has forced the evacuation of residents in a community north of Sudbury, Ont.   Conservation officers and Ontario Provincial Police assisted with the precautionary evacuation of Shining Tree, Ont., residents Saturday afternoon after a forest fire broke out

Multi-level brown cottage with white trim sits on the water and is surrounded by trees.
News BrokersInsuranceMarkets / CoveragesRisk

What cottagers may overlook when it comes to seasonal insurance

May 17, 2022 by Alyssa DiSabatino

With the May long weekend just around the corner, many Canadians will be packing their bags and heading up to the cottage, but a post-pandemic surge of demand may mean a lot of cottage rentals, and some important points of

Stock market trading screen showing sell-off.
News BrokersClaimsClaims CanadaCommercial LinesInsuranceLegalRisk

Stock market volatility may spike E&O claims

May 17, 2022 Michelle Schriver

Investors 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

Auto insurance policy with keychain on top
News Insurance

Ontario auto: Should employee benefits or auto insurers pay out first?

May 17, 2022 by Jason Contant

If the Ontario Progressive Conservative Party moves ahead with one of its proposed changes to auto insurance, it could result in increased claims costs for auto insurers, or else shift the burden more onto extended (supplementary) health insurance policies, says

insPRESS Insurance

First Onsite strengthens team in Edmonton with key appointment

May 17, 2022 First Onsite Property Restoration

    MISSISSAUGA, ON, MAY 17, 2022/insPRESS/ – First Onsite Property Restoration, Canada’s leading property restoration company, has bolstered its local leadership team in Edmonton with the promotion of Curtis Azevedo to Branch Manager. In his role, Curtis will focus on providing

insPRESS Insurance

CRU GROUP Announces Expansion with New Canadian Service Location

May 17, 2022 CRU Group

TORONTO, ON, MAY 17, 2022/insPRESS/ – David Repinski, CEO of CRU GROUP, today announced the opening of its newest location in Winnipeg, Manitoba to continue the Company’s recent significant expansion across North America. This new location strengthens CRU GROUP’s service