Topic Claims Professionals
Winter tire use cut an auto insurer’s claims costs by this much
November 12, 2020 by Greg MeckbachVehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use…
‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada
November 11, 2020 by Greg MeckbachA $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.…
Lessons for the industry from pandemic business interruption coverage disputes
November 10, 2020 by Greg MeckbachMassive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private…
One essential thing required for condo premium relief
November 10, 2020 by Adam MalikClients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in…
Culture change needed to mitigate condo losses: Aviva exec
November 6, 2020 by Adam MalikAs capacity for condo insurance shrinks and premiums continue to mount, property managers and condo boards will find greater success with underwriters if they can show they are embedding responsibility for risk management and mitigating losses into their corporate culture,…
How the industry’s reputation is faring during COVID
November 3, 2020 by Adam MalikIn a spirited debate about the insurance industry’s reputation during the COVID-19 pandemic, an insurance industry researcher said one big reason why some consumers don’t trust insurance companies is because when they submit a claim, they’re treated as if they’re…
How COVID could change adjusting for good
October 29, 2020 by Greg MeckbachThe COVID-19 pandemic has permanently changed the way property insurance clients want their claims handled, a technology vendor suggests. “COVID has been the awakening for many companies,” said James Swayze, Toronto-based executive for Canada at CoreLogic Inc. After COVID-19 was…
First the industry mandated fire detectors. Now should it require water detectors?
October 27, 2020 by Adam MalikAn abundance of technology is available to prevent water damage in condo buildings, but panellists of a recent Canadian Underwriter webinar questioned why it’s not being mandated or put to use as condo claims continue to increase. Existing technology such…
What this Vancouver plaintiff’s lawyer says about pandemic business interruption coverage
October 27, 2020 by Greg MeckbachA British Columbia lawyer suggests at least half the business interruption insurance policies he has reviewed should cover a client who lost business because of emergency measures imposed to contain the novel coronavirus. “People who have ‘all-risk’ policies should be…
How auto insurers are promoting National Teen Driver Safety Week
October 20, 2020 by Greg MeckbachTeenagers are 3.1 times more likely to follow too closely than drivers older than 45, Manitoba’s auto insurer is warning. Teens are also 3.6 times more likely to lose control or drive off the road than drivers aged 45 and…
Insurer loses scooter claim because of a ‘deprecated’ sales receipt
October 20, 2020 by David GambrillIf a claim for a stolen scooter draws suspicion, an insurer will need to do more than just cite skepticism about the condition in which the power charger, keys and helmet are returned — especially if the electronic bike’s purchase…
If you thought cyber was hard to sell before…
October 20, 2020 by Adam MalikCyber claims have skyrocketed recently thanks to the COVID-19 pandemic, and the relatively young class of business has entered a hard market, meaning that an already-tough-to-sell insurance product may become an even harder sell, according to an expert in the…