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Debate rages over whether a cyber attack is an act of war

April 18, 2019 by Jason Contant

Can 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

News InsuranceLegislation / RegulationRestorationRisk

This aging infrastructure problem could force residents out of homes

April 18, 2019 by Greg Meckbach

A 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

News InsuranceLegislation / Regulation

How Ontario government plans to work with industry on auto reform

April 18, 2019 by Greg Meckbach

The 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

News AdjustersClaimsInsuranceLegal

Condo flooding liability 101

April 18, 2019 by David Gambrill

You 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

News InsuranceProfessional Development

Beware of cumulative dangers of change, insurer CEO says

April 17, 2019 by Jason Contant

Change 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

News CatastrophesInsurance

Flooding fears persist in Quebec town after worst deluge in 48 years

April 17, 2019 THE CANADIAN PRESS

BEAUCEVILLE, 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

News InsuranceTechnology

Cyber pricing: Have carriers got it right?

April 17, 2019 by Greg Meckbach

Cyber 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

News ClaimsInsurance

How insurers can turn their salvage into social purpose

April 17, 2019 by Jason Contant

If 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

News ClaimsInsurance

To repair, or not to repair?

April 17, 2019 by David Gambrill

Total 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

insPRESS Insurance

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,

News ClaimsInsurance

One critical piece of advice to your client about BI cyber claims

April 16, 2019 by Jason Contant

Preparing 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

News Insurance

This little piggie caused a $24-million subrogated claim

April 16, 2019 by Greg Meckbach

A $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