Topic
Markets / Coverages
Why consumers may be snubbing telematics
January 9, 2018 by Jason ContantPrivacy and security concerns may be contributing to a lower-than-expected uptake of telematics programs, Andrew Lo, the president and CEO of Kanetix Ltd., said on Monday. Also, there seems to be some confusion among consumers about the data insurers are…
Why Canadian insurers paid $1.33 billion for cat claims in a benign cat year
January 9, 2018 by David GambrillCanadian insured losses from catastrophic events in 2017 totaled $1.33 billion, CatIQ Inc. reports, the fifth time that’s happened over the past seven years. “It’s becoming increasingly common to have Canadian annual insured losses to be greater than $1 billion,”…
Insurers should prepare messaging on responsible pot use
January 9, 2018 by Greg MeckbachThe insurance industry has an important role to play in advising drivers how much marijuana, if any, they can use and still be safe on the road, a safety advocate says. Prime Minister Justin Trudeau may be perceived as “too…
What brokers need to tell homeowners hiring renovators
January 9, 2018 by Greg MeckbachBrokers placing home insurance should be advising clients on how to vet renovation contractors, a spokesperson for a bidding website advises. Some contractors could be working on homes without having workers compensation insurance, and while they may have insurance certificates…
Driverless cars could be coming soon to Ontario roads
January 9, 2018 Allison Jones - THE CANADIAN PRESSTORONTO – Ontario drivers could soon find themselves motoring along the highway next to a car with no one in the driver’s seat. The province’s Liberal government is proposing to change the rules of its 10-year automated vehicle pilot project…
Mutual mergers: stepping stone to demutualization?
January 8, 2018 by Jason ContantWith Economical Insurance on the road to demutualization, the question has always been: will other mutuals follow suit? But another possibility is that some of the smaller Canadian mutual insurers may merge to form larger entities in anticipation of demutualizing…
Safety gadgets driving up insurers’ auto repair costs
January 8, 2018 by David GambrillSafety gadgets mounted on today’s slick new vehicles are creating headaches for insurers when it comes to the severity of auto insurance physical damage claims. Why? Because it costs more to repair them when they are damaged in collisions. Mitchell…
Brokerage acquisition features insurtech talent, online binding
January 8, 2018 by Greg MeckbachThe potential to expedite policy issuance to brokers online was a major factor in the decision of Totten Insurance Group to buy Belyer Insurance Limited of Windsor, Ont., Totten CEO Susan Murphy said Friday. Belyer does business as EasyInsure, whose…
Why insurers don’t want a sudden hike in interest rates
January 8, 2018 by Greg MeckbachInsurers might be happy if lending rates rise by a few percentage points, but a financial executive with one mutual warns a sudden rise in interest rates carries a noticeable risk. The Bank of Canada announced in December it is…
Was 2017 the costliest year ever for insured losses?
January 8, 2018 by Jason ContantMunich Re has confirmed what industry analysts have long speculated — the hurricane trio of Harvey, Irma and Maria made 2017 the year of the highest global insured losses ever. The final insurance bill for those three hurricanes and other…
Fierce storm causes storm surges, extensive power outages in Atlantic Canada
January 8, 2018 Alison Auld - THE CANADIAN PRESSHALIFAX – Work crews were fanning out across parts of Atlantic Canada on Friday after a fierce winter storm blasted the region with hurricane-force winds that flooded coastal roads, knocked out power and lashed waterfronts with surging seas. Tens of…
How the Feds’ pot plan could trigger home insurance claims
January 7, 2018 by David GambrillCanadian insurance claims professionals see social host liability issues at play when the federal government’s Cannabis Act comes into force. “If somebody goes to a home where cannabis is available because the homeowner is able to grow four plants, and…