Topic
Insurance
Debate rages over whether a cyber attack is an act of war
April 18, 2019 by Jason ContantCan a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following…
This aging infrastructure problem could force residents out of homes
April 18, 2019 by Greg MeckbachA substantial number of Ontario residents are at risk of becoming temporarily homeless because they live in old high-rise buildings with critical infrastructure that needs to be replaced, a politician told Canadian Underwriter Wednesday. “Across Toronto and across Ontario we…
How Ontario government plans to work with industry on auto reform
April 18, 2019 by Greg MeckbachThe Ontario government plans to work with the industry on implementing a number of changes to auto insurance, including doubling accident benefits coverage for catastrophic impairment. In its 2019-20 budget document tabled Apr. 11, the government said motorists “should have…
Condo flooding liability 101
April 18, 2019 by David GambrillYou are the owner of a condo unit. The toilet in the condo unit above you overflows, causing water damage to your ceiling and floor. No, your upstairs neighbour does not have to reimburse you for your $1,000 insurance policy…
Beware of cumulative dangers of change, insurer CEO says
April 17, 2019 by Jason ContantChange can be a “wonderful thing,” but organizations must be aware of its cumulative impact, the president and CEO of CNA Canada said last week at the CIP Society Symposium’s Up Close and Personal session. Imagine an insurance company that…
Flooding fears persist in Quebec town after worst deluge in 48 years
April 17, 2019 THE CANADIAN PRESSBEAUCEVILLE, Que. – A Quebec town that this week suffered its worst flooding in nearly 50 years is fearing more damage as rain is forecast in the coming days. Officials in Beauceville, about 90 kilometres south of Quebec City, say…
Cyber pricing: Have carriers got it right?
April 17, 2019 by Greg MeckbachCyber insurance is a good tool to help clients understand their vulnerabilities, but carriers need to do a better job of pricing according to risk, speakers suggested at a recent conference. “There seems to be a lot of spit-balling on…
How insurers can turn their salvage into social purpose
April 17, 2019 by Jason ContantIf your client has filed a claim after experiencing a major event like a flood or fire, it’s likely that contractors have removed salvageable materials that are still usable. For example, in the event of a kitchen flood, contractors may…
To repair, or not to repair?
April 17, 2019 by David GambrillTotal Loss Series, Part 1: Cycle Times Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing…
CSIO Celebrates Industry Achievements at 2019 Members’ Meeting & Reception
April 17, 2019 by CSIO (Centre for Study of Insurance Operations)TORONTO, ON, APRIL 17, 2019 /insPRESS/ –On Tuesday, April 16, CSIO hosted its 2019 Members’ Meeting & Reception at the Shangri-la Hotel in Toronto. This annual meeting brings together stakeholders within the P&C insurance industry, including insurers, brokers and vendors,…
One critical piece of advice to your client about BI cyber claims
April 16, 2019 by Jason ContantPreparing in advance for how a cyber-related business interruption loss may play out can help transform the claims process, speakers said earlier this month at NetDiligence’s Cyber Risk Summit in Toronto. A lot of the “claims frustration” can be avoided…
This little piggie caused a $24-million subrogated claim
April 16, 2019 by Greg MeckbachA $24.3-million lawsuit by an oil and gas company against a contractor over an accident that spilled 60 cubic metres of oil is one of Canada’s largest-ever subrogated claims, a lawyer for the plaintiff says. In ISH Energy Ltd v…