Topic
Markets / Coverages
The latest flood peril: Do-it-yourself condo repair
February 26, 2018 by Canadian UnderwriterInsurance professionals selling condo insurance might want to advise their self-styled handyman clients to consult an expert before taking on seemingly minor home alterations. A British Columbia strata lot owner is on the hook for more than $8,000 after accidentally…
What customers will soon expect from insurance carriers
February 26, 2018 by Jason ContantInsurance customers are going to start expecting personalized products and services based on data, Andrew Lo, president and CEO of Kanetix Ltd., said during a webinar Thursday. “Our customers are going to expect smart personalization like, ‘Give me the products…
These simple questions can defuse your client’s resistance to cyber
February 26, 2018 by Jason ContantClients’ arguments against purchasing cyber insurance can often easily be defused, delegates attending NetDiligence’s Cyber Risk Summit heard Friday. Lindsey Nelson, international cyber team leader with CFC Underwriting, said she is often surprised when she hears companies saying they don’t…
Checking a claimant’s auto case evidence? Ask for the LTD discovery transcript
February 26, 2018 by David GambrillAn insurer in an accident benefits case has obtained a court order requiring a claimant to turn over the discovery transcript in a related long-term disability (LTD) claim arising from the same accident. Ontario’s rules for handling auto accident benefits…
Ontario city settles guardrail ‘spear’ class action lawsuit
February 26, 2018 Colin Perkel - THE CANADIAN PRESSTORONTO – A proposed Canadian class action that alleged secret cost-saving design changes made to a highway safety guardrail had in fact turned the barrier into a potentially lethal spear has been settled, court documents show. This week’s settlement of…
A broker’s walkthrough of cyber insurance with a client
February 25, 2018 by Jason ContantThe majority of clients that Marsh Canada meets with – anecdotally 70-80% – still don’t understand what a cyber insurance policy does, Jeremiah Tonn, vice president of the brokerage’s cyber practice, said on Friday. Speaking at NetDiligence’s Cyber Risk Summit…
Should insurers even be writing D&O coverage for sexual misconduct claims?
February 25, 2018 by David GambrillWhy are insurers writing D&O coverage for allegations involving sexual misconduct, which is not really an “accident,” but rather an intentional act that is typically excluded from coverage? The question came up last Thursday at a PLUS Canada event in…
Numbers don’t show that safety technology leads to lower repair costs
February 25, 2018 by Jason ContantIt’s a common thing to hear in Canada’s P&C insurance industry: Although auto repair costs will increase in the short term because of advanced safety technologies installed in today’s vehicles, over the long haul, the frequency of incidents should decrease…
Expectations high that federal budget will make big investments in cybersecurity
February 23, 2018 Andy Blatchford and Jim Bronskill - THE CANADIAN PRESSOTTAWA – Government and industry insiders have high expectations next week’s federal budget will contain big investments to help Canada reinforce its cybersecurity defences in an age of heightened global threats to businesses, privacy and democracy. A senior government official…
Cyberattacks will increasingly lead to business interruption, cyber insurer warns
February 22, 2018 by Jason ContantCyber insurer Beazley is expecting an increase in cyberattacks that lead to business interruption, especially due to the growth of cloud platforms and connected devices in the workplace. On Wednesday, Beazley released its 2018 Breach Briefing outlining the types of…
Electronic proof of insurance now available, even if regulations aren’t
February 22, 2018 by David GambrillThe Centre for Study of Insurance Operations (CSIO) has launched its My Proof of Insurance eDelivery solution, enabling CSIO members to send consumers digital policy documents (including proof of auto insurance, or ‘eSlips’) for personal and commercial lines. The announcement…
Proposed “concussion code of conduct” could help sports insurers
February 22, 2018 by Canadian UnderwriterLegislation that would require a “concussion code of conduct” for amateur sports organizations in Ontario will be the subject to public hearings next week. If passed into law, Bill 193 will “be a catalyst for longer-term culture change for concussion…