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How E&O needs to change for emerging tech companies

September 20, 2019 by Jason Contant

Does a one-size-fits-all basic tech errors and omissions (E&O) policy that covers things like breach of contract or negligence still suffice for an emerging tech company? “Most probably not,” said Charlie Murray, international technology team leader with specialist insurer CFC…

News Claims

Insurer wins dispute over stolen vehicle claim

September 19, 2019 by Jason Contant

The Insurance Corporation of British Columbia (ICBC) was justified in denying an insured’s claim for making a wilfully false statement in connection with a stolen vehicle, the province’s Civil Resolution Tribunal (CRT) has ruled. ICBC determined the stolen vehicle was…

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Three things young insurance pros want from their bosses

September 18, 2019 by Adam Malik

Young insurance professionals want their older managers to wrap their heads around a few concepts when it comes to working with young people: flexible work environments, mentoring and being open-minded. Those were the suggestions from the “Four Under Forty” panel…

News AdjustersCatastrophes

What’s happening with police report on B.C. wildfire that destroyed more than 200 structures

September 18, 2019 by THE CANADIAN PRESS

KAMLOOPS, B.C. – The RCMP investigation into the cause of a massive wildfire that destroyed homes and charred nearly 2,000 square kilometres of land in British Columbia has now been passed to the BC Prosecution Service for consideration of charges.…

News CatastrophesEngineering

SPECS acquired by New York consulting firm

September 17, 2019 by Greg Meckbach

Specialized Property Evaluation Control Services, better known as SPECS, has been acquired by J.S. Held LLC, an American consulting firm, the companies announced Tuesday. SPECS, based in Langley, B.C., does property damage assessments, restoration consulting, construction project administration, risk management,…

News ClaimsInsurance

The critical piece of mapping out the claims process

September 16, 2019 by Greg Meckbach

Insurance providers who are paying for consultants to help change claims processes may be missing a piece of the puzzle. “There are a lot of vendors who would like to spend a lot of time with you,” said Erin Fischer,…

News AdjustersClaimsInsurance

One key factor in creating a great customer experience

September 16, 2019 by Jason Contant

Want to create an excellent customer experience for your clients? Make sure you are picking the right vendors, says Hans Reidl, senior vice president of claims with Economical Insurance. “The supply chain… are the ones that are actually doing the…

News CatastrophesClaimsInsurance

Have insured cat losses already reached $1 billion this year?

September 13, 2019 by Jason Contant

The “alarming trend” towards increasingly severe and frequent weather events causing higher insurance payouts continues in 2019, with close to $900 million in insured losses recorded already so far this year. In 2018, insured damage from severe weather across Canada…

News Insurance

How to make a good first step in the fight against auto fraud an even better one

September 12, 2019 by Greg Meckbach

The launch of Canadian National Insurance Crime Services [CANATICS] was a good move in the fight against auto claims fraud, but Canada is still at a disadvantage to other countries, a former police detective and senior Aviva claims executive said…

News AdjustersClaimsInsurance

You can’t teach claims adjusters this skill

September 11, 2019 by Greg Meckbach, Associate Editor

As the chief claims officer for Wawanesa Mutual Insurance Company, Erin Fischer hears one question all the time. “The Number 1 question I get is: Do you need to hire claims people who are technical experts?'” Fischer said Wednesday. Although…

News ClaimsInsuranceTechnology

Ransomware: should your client pay the demand?

September 11, 2019 by Jason Contant

If your client suffers a ransomware attack, should they pay the ransom to get their systems up and running again? And if they do pay, does that guarantee the cyber criminals who locked down the systems in the first place…

News ClaimsInsurance

How to rebrand “insurance” so customers will listen to you

September 11, 2019 by Jason Contant

“Does anybody here like to buy insurance?” a Scotiabank executive asked attendees at Insurance Nexus’ Connected Insurance Canada conference in Toronto Tuesday. “Let’s be honest,” said Fernando Moreira, senior vice president of global insurance at Scotiabank. “I always come with…