Topic Claims Canada Archive
How the Supreme Court of Canada has clarified statutes of limitations on lawsuits
August 13, 2021 by Greg MeckbachA Supreme Court of Canada ruling against the New Brunswick provincial government means it is now easier in some cases for defendants across Canada to argue lawsuits against them should be thrown out of court because they are time-barred, a…
4 causes of social inflation and why it’s costing your clients more
August 10, 2021 by Greg MeckbachSocial inflation is one reason your client’s commercial rates may be outpacing the insurers’ loss cost trends, a Bermuda insurer CEO suggests. “I define social inflation as including politicians, regulator, or courts re-defining wording in favour of claimants,” said Albert…
How Lloyd’s Canada says the industry can better prepare for the next time a pandemic causes business interruption
August 9, 2021 by Greg MeckbachLloyd’s is talking to Canadian government authorities about how business interruption risk, arising from a pandemic, can be transferred in the future. “In Canada, Lloyd’s has talked to the federal finance department and different provincial government regulators,” Lloyd’s Canada president…
The claims impact of the B.C. wildfires
August 5, 2021 by Jason ContantWildfires raging across British Columbia have resulted in a lot of additional living expenses (ALE) claims, a property restoration firm told Canadian Underwriter Wednesday. “There’s just a lot of increases on the ALE [claims],” Shane Swinson, senior vice president, insurance…
How Fairfax is reserving for COVID-19 business interruption reinsurance charges
August 4, 2021 by Greg MeckbachThe 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…
Why this towing company is on the hook for $2,000 in damages
August 3, 2021 by Greg MeckbachIf 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…
McLarens acquires MGB Claims Consultants
August 3, 2021 by Greg MeckbachCanadian 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…
Why many brokers need to change their auto quoting process
July 28, 2021 by Greg MeckbachMany brokerages that use AutoPlus to obtain auto insurance quotes will likely have to change their processes over the next couple of months. AutoPlus’s vendor, CGI Group Inc., will start updating that online database product Aug. 13, says the Insurance…
Supreme Court of Canada sides with city over release for ‘claims of any kind or nature whatsoever’
July 23, 2021 by Greg MeckbachAs 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…
Why your clients should do an inspection before buying a home
July 21, 2021 by Greg MeckbachA 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…
Get ready for hundreds of claims from Barrie twister
July 21, 2021 by Greg MeckbachThe 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…
The legal pitfalls of online and over-the-phone insurance applications
July 20, 2021 by Greg MeckbachA 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…