Topic
Insurance
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…
Two auto physical damage trends of concern to one insurer
May 18, 2022 by Jason ContantDefinity 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…
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…
Inflation rate up slightly in April to 6.8 per cent: Statistics Canada
May 18, 2022 The Canadian PressOTTAWA – 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…
Best Practices to Prevent Workplace Fraud
May 18, 2022 Ecclesiastical Insurance OfficeTORONTO, 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…
Forest fire in northeast Ontario community forces residents to evacuate
May 17, 2022 The Canadian PressA 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…
What cottagers may overlook when it comes to seasonal insurance
May 17, 2022 by Alyssa DiSabatinoWith 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 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…
Ontario auto: Should employee benefits or auto insurers pay out first?
May 17, 2022 by Jason ContantIf 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…
First Onsite strengthens team in Edmonton with key appointment
May 17, 2022 First Onsite Property RestorationMISSISSAUGA, 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…
CRU GROUP Announces Expansion with New Canadian Service Location
May 17, 2022 CRU GroupTORONTO, 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…