Topic Claims Professionals
Expect more total losses with electric vehicles: report
February 13, 2024 by David GambrillCanadian auto insurers can expect to write off electric vehicles (EVs) rather than try to repair their expensive, damaged batteries, says a report by Morningstar DBRS. “The most expensive component of an EV is the battery, often embedded in the…
What high interest rates mean when clients’ cars get totalled
February 9, 2024 by Philip PoradoOngoing economic problems — including rising prices, high interest rates and stagnant wages — are creating problems for some insureds whose cars get totalled. The situation’s most acute for clients who experienced financial problems during the pandemic and bought used…
Insurers bring Cat claims in-house: How independent adjusters adapt
February 7, 2024 by Jason ContantSome major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future…
KPMG buys insurance claims practice
February 2, 2024 by Jason ContantProfessional services firm KPMG in Canada has purchased an insurance claims practice that offers income replacement benefit and related calculations, as well as commercial loss claims calculations for insurance companies and their customers. The acquisition of the claims practice of…
Why the court denied an auto insurer’s ‘shockingly intrusive’ motion
January 30, 2024 by David GambrillEditor’s Note: The Ontario Superior Court decision incorrectly identified the auto insurer in this case as Echelon Insurance. Echelon has contacted Canadian Underwriter to confirm it has reached out to the court to correct the public record and it did…
P&C insurance industry launches collective recruitment effort
January 25, 2024 by David GambrillCanada’s property and casualty insurance industry has launched a collaborative, industry-wide recruitment effort dubbed Project Reframe. Announced by the Insurance Institute of Canada (IIC) Monday, the public education campaign aims to portray the insurance industry as an engaging, dynamic, and…
Roof collapses feared if freezing rain follows heavy snowfall
January 16, 2024 by David GambrillFearing a wave of roof collapses could occur in the short term, Toitures Hogue, a large Quebec roofer, is urging owners of commercial, industrial and/or institutional buildings to be cautious and proactive in advance of a freezing rain forecast over…
Should insurers help customers build back better…or not at all?
January 4, 2024 by Philip PoradoIncreased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to…
2024 Executive Outlook |Greg Smith, Crawford & Company
December 27, 2023 by Canadian Underwriter StaffGreg Smith, president of Canadian operations, Crawford & Company Macro industry trends, including the impact of climate on claims frequency, the growing talent gap, and technology integration, will continue to be significant stories in 2024. But fraud is an emerging trend…
Introducing our 2024 Executive Outlook series
December 19, 2023 by David GambrillIn the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,…
Holly, jolly claims follies
December 18, 2023 by David GambrillIt wouldn’t be the holiday season without someone trying to ignite their house by attaching burning candles to the Christmas tree. An internet search for “crazy Christmas claims” finds insurance broker websites rife with holiday-related claims in the neighbourhood of…
Do auto clients ask for trouble by hiking deductibles?
December 15, 2023 by Philip PoradoDuring the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…