Canadian Underwriter

Digitally generated modern and minimalist family house/villa in Nature with garage and a terrace. News CatastrophesClaimsClimate ChangeInsuranceRisk

Why home insurers are more exposed to NatCats after the pandemic

July 4, 2022 by David Gambrill

When the pandemic, remote work and a hot housing market combined to cause more Canadians to buy homes in suburban and rural areas, home insurers may have become more exposed to NatCat losses, data from a recent Aviva study found…

Tesla autopilot News ClaimsInsuranceLegalLegislation / RegulationRisk

U.S. regulator upgrades Tesla Autopilot crash analysis

June 30, 2022 by Philip Porado

A National Highway Traffic Safety Administration (NHTSA) preliminary analysis (PA) into Tesla’s Autopilot system was upgraded to an engineering analysis (EA) earlier this month. The EA will “extend the existing crash analysis, evaluate additional data sets [and] perform vehicle evaluations,”…

A person holds the steering wheel of a car with their left hand while their right hand hovers over the horn News BrokersClaimsInsuranceLegalRisk

Distracted driving accelerates post-pandemic

June 29, 2022 by Alyssa DiSabatino

Ninety-eight per cent of Ontario drivers report witnessing unsafe driving behaviours over the past year — a 3% increase from the year previous — and yet only 58% admit to engaging in dangerous driving behaviours themselves, a CAA South Central…

Fire Debris of Houses in a small town with smoke in sky. News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeConstructionInsuranceRestoration

Why it’s taken a year to get Lytton, B.C.’s post-wildfire rebuild underway

June 29, 2022 by David Gambrill

To the naked eye, not much has changed since Lytton, B.C. was razed by a June 30, 2021 wildfire, causing an estimated $100 million in insured damage. Coming up on the fire’s one-year anniversary, debris-removal work has finally begun for…

Two-car auto accident News ClaimsInsuranceMarkets / Coverages

Have auto premiums, loss ratios returned to pre-pandemic levels?

June 28, 2022 by Philip Porado

At least one major Canadian insurer has seen driving patterns return to pre-pandemic levels last seen in late 2019 and early 2020. Aviva closely monitors both the amount of driving and its claims frequency, said Phil Gibson, executive vice president…

Jurors sitting in a court room box News AdjustersClaimsClaims CanadaInsuranceLegalRisk

Will rocketing consumer prices spark social inflation?

June 24, 2022 by Philip Porado

While consumers are paying close attention to inflation’s impact on their wallets, insurers should be keeping an eye on social inflation – and recognize the two are often linked. “There’s quite a distinction between the impact of what I would…

Roof Leaking News BrokersClaimsInsuranceLegal

Water damage dispute: Why the court wouldn’t end three-year dispute resolution

June 22, 2022 by David Gambrill

B.C.’s Supreme Court has denied a claimant’s attempt to bail out of two mandatory dispute resolution hearings with multiple insurers in a three-year dispute over the value of water damage in her strata unit. “The plaintiff is understandably frustrated by…

Woman stressed out by increasing oil prices News ClaimsInsuranceRisk

Will the oil shock slow auto insurers’ post-pandemic loss ratios?

June 21, 2022 by David Gambrill

Insurers have been sounding the alarm about their auto claims ratios returning to normal post-pandemic, but expect the oil shock to temper that expectation somewhat, P&C industry execs predict. The war in Ukraine and consequent embargo on Russian oil have…

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How the industry is addressing service level challenges

June 20, 2022 by Alyssa DiSabatino

Consumer behaviour, supply chain issues and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives.  Processing claims in-house helps…

Picturesque family home with red facade combined with wooden details. Hard roof top pergola covering the patio, protecting it from snow. This modern style home gives you a cozy feel, because of wood and warm colors. News BrokersClaimsInsuranceLegal

Sewer back-up or overland flood? Is a sun deck “within” a dwelling?

June 17, 2022 by David Gambrill

A sewer backup insurance policy only applies to a flood originating from “within” a dwelling and not from a drain overflow on a sun deck partially exposed to the outdoors, B.C.’s Supreme Court has ruled. In Gill v Wawanesa Mutual…

Riot police dealing with a protest and fire on a city street. News CatastrophesClaimsCommercial LinesConstructionInsuranceReinsuranceRisk

How to help your clients prepare for civil unrest

June 16, 2022 by Philip Porado

Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a…

Robot holding a brain to represent artificial intelligence. News ClaimsCommercial LinesInsuranceMarkets / CoveragesProductsReinsuranceRisk

How do you insure artificial intelligence?

June 15, 2022 by Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult…