Canada’s property and casualty insurance industry is facing complex issues. Insurance and reinsurance companies, brokers, regulators and risk managers are likely to be touched by the changes currently unfolding.
Legal expense insurance was previously an untapped resource. But an increasingly litigious environment, coupled with enhanced availability of related insurance products, seems to indicate the times are, indeed, changing.
A survey of public company executives in the United States reveals little concern over the possibility of being sued – this despite almost a quarter of responding companies having already been sued.
As with all businesses, people move on to new jobs and new employers. But who is the rightful owner of the client list of a producer, having built an impressive book of business over two decades, when he or she heads out the door?
REGULATION Ruling on catastrophic impairment overturned The Court of Appeal for Ontario has sided with a claimant and against her insurer, Aviva Canada Inc., in her bid to have the injuries she sustained in a car accident classified as “catastrophic…
Regulators in Canada are examining whether or not electronic commerce practices in insurance meet consumer protection standards. While the internet has exploded in terms of comparison price shopping and research, the ability to “buy and bind” raises key issues about customer access to advice from licensed professionals and appropriate safeguards. It is a discussion that is, in some areas, pitting brokers against direct insurers.
Brokers are well-advised to get acquainted with the common definitions contained in every professional liability policy to fulfill their obligation to provide prompt notice – and to protect themselves.
The insurance industry has organized crime in its crosshairs. There is today a more detailed understanding of the extent of sophisticated fraud rings and how they steal from insurers and their customers. There is also a sense that now is the time for more specific strategies to bolster regulations, cut off the flow of money and punish offenders.
After more than 40 years of defending insurance claims, I can observe that the insurance industry in general spends entirely too much time and effort building reactive defences to whatever the plaintiff has claimed. Quite simply, we tend to fight…
In cases involving severe brain injuries, the Assessment of Attendant Care Needs (Form 1) certainly allows for custodial care under Level II attendant care. However, the Form 1 may not necessarily allow for a situation where an insured requires non-custodial…
An examination of The Glasgow Coma Scale and Catastrophic Impairment
Overcharging experts beware – no longer will the courts simply rubber stamp disbursements claimable against a losing party. While the courts have historically been relatively assertive in assessing legal fees, and in making sure that the time spent and the…