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How Fairfax is reserving for COVID-19 business interruption reinsurance charges

August 4, 2021 by Greg Meckbach

The uncertainty around business interruption insurance coverage and the impact of a United Kingdom Supreme Court are among the reasons Toronto-based Fairfax Financial Holdings has put aside more than US$80 million this year in COVID-19 reserves. Fairfax reported July 29…

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Why this towing company is on the hook for $2,000 in damages

August 3, 2021 by Greg Meckbach

If your client dings another vehicle and informally offers $500 to the driver of the other vehicle, this does not limit your client’s liability to $500. This is one lesson from a British Columbia civil resolution tribunal ruling released last…

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McLarens acquires MGB Claims Consultants

August 3, 2021 by Greg Meckbach

Canadian adjusting firm MGB Claims Consultants Inc. has been acquired by McLarens, a Norcross, Ga.-based insurance service provider. The financial terms of the deal, announced Tuesday, were not disclosed. Shawn Malik, James Giffen and Shawn Burnett – who founded MGB…

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Cyclist loses bid to summon the Queen to court in auto insurance case

July 23, 2021 by David Gambrill

A B.C. cyclist injured in a car collision has lost his bid to demand an audience with Her Majesty Queen Elizabeth II in an effort to make his case against the province’s public auto insurer. In addition to seeking an…

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Supreme Court of Canada sides with city over release for ‘claims of any kind or nature whatsoever’

July 23, 2021 by Greg Meckbach

As the late singer Prince said, forever is a mighty long time. While his 1984 tune “Let’s Go Crazy” is not about tort claims, a Supreme Court of Canada decision released Friday should serve as a reminder of the significance…

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Why your clients should do an inspection before buying a home

July 21, 2021 by Greg Meckbach

A couple who discovered a leaking bathtub after moving into their new home cannot get compensation from the sellers. A “reasonable inspection” would have revealed a water problem before Tyler and Keva Luscombe bought their home in 2020, the British…

News AdjustersCatastrophesClaimsClaims CanadaEngineeringInsuranceRestoration

Get ready for hundreds of claims from Barrie twister

July 21, 2021 by Greg Meckbach

The industry will probably see well over 200 claims from the July 15 tornado that hit Barrie, Ont., says a wind damage expert who has looked at the affected area. “I expect the total number of damaged houses was about…

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The legal pitfalls of online and over-the-phone insurance applications

July 20, 2021 by Greg Meckbach

A property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone…

News ClaimsInsuranceRiskTechnology

Look for AI to “hyper-personalize” customer experience in 3-5 years: Aviva exec

July 20, 2021 by David Gambrill

Hyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I…

The small town of Okotoks was hit hard by the June floods of 2013, with the river valley rushing and raging through wiping out pedestrian bridges, campgrounds, river banks and pathways. News ClaimsClaims CanadaInsuranceMarkets / CoveragesRisk

Why your clients may not have the high ground on overland flood risk

July 19, 2021 by Greg Meckbach

Many homeowners opt not to buy overland flood coverage and this could leave them uninsured in the event of a severe rain storm. “Overland flooding is any water that comes into your house through the windows or door or anything…

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New industry anti-fraud group gets its first CEO

July 19, 2021 by Greg Meckbach

Terri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division.…

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Why insured losses from Barrie twister may be higher than you think

July 16, 2021 by Greg Meckbach

The number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported.…