Topic Claims Canada Archive
The evolving value of the claims sector
November 18, 2021 by Jason ContantWhile the traditional view of claims is that it sits towards the back of the value chain, that is changing, a speaker said Wednesday during KPMG’s 30th annual insurance conference. The evolving role of claims was one of four macro…
Supreme Court of Canada rules against BC trial lawyers in disputed subrogated Ontario auto claim
November 18, 2021 by Greg MeckbachIf the Trial Lawyers Association of British Columbia had its way, auto insurers would have an incentive to go the “extra mile” in trying to find reasons to deny claims, two Supreme Court of Canada judges suggested in a decision…
How Ontario direct compensation-property damage affects temporary loaner vehicles
November 17, 2021 by Greg MeckbachAn Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a…
What FSRA says about the ‘take all comers’ auto insurance rule
November 16, 2021 by Greg MeckbachOntario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
Why Intact is paying out less on total auto losses
November 10, 2021 by Greg MeckbachIntact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…
Is B.C.’s 2021 wildfire season the worst on record?
November 9, 2021 by Jason ContantBritish Columbia’s 2021 wildfire season was severe, but it wasn’t the costliest on record from a suppression standpoint, according to a summary report from the BC Wildfire Service. Between April 1 and Sept. 30, 2021, a total of 1,610 wildfires…
Canadian Independent Adjusters’ Association names new president
November 8, 2021 by Canadian Underwriter StaffJeff Edge, president of Leading Edge Claims Services Inc. in Fonthill, Ont., is the new president of the Canadian Independent Adjusters’ Association (CIAA). He is the 37th president of the association, which represents more than 1,800 independent adjusters across Canada.…
Court rules Ontario auto insurer’s request for claimant data ‘unnecessarily invasive’
November 8, 2021 by Greg MeckbachAn Ontario judge has turned down a request by Aviva Insurance Company of Canada to order a claimant to produce banking records showing the location of vendors from which that claimant had made purchases. In November, 2020, an Aviva auto…
Three reasons Fairfax predicts a continuing hard market
November 5, 2021 by Greg MeckbachAs carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based…
Homeowners loss ratio drops to 49.1% for this Top 10 insurer
November 3, 2021 by Greg MeckbachCanada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance…
Why the Co-operators won this appeal over homeowner claim
October 29, 2021 by Greg MeckbachIf a client learns something new about insurance law four years after their claim is denied, it’s probably too late to sue the insurer for breach of contract. In a decision released this past Tuesday, the Court of Appeal of…