Insurance is a cool industry, but not enough people know it. John McNeil, program coordinator and full-time professor at Humber College’s insurance management program, explains how to change that – As told to Adam Malik We as an…
Using a smart phone to take pictures of property damage as soon as it happens could speed up the claims process and reduce fraud risk, the head of a Canadian claims technology vendor suggests. “The best way to drive efficiency…
An electronics distributor that lost nearly $2.7-million because its accounts payable staff were duped by fraudsters cannot claim under policy wording covering funds transfer fraud, a Quebec court has ruled. In Future Electronics Inc. (Distribution) Pte Ltd. v. Chubb Insurance…
Advising clients of parametric options will allow brokers and insurers to enhance their value and open up opportunities to provide more options for risk transfer and solutions to coverage issues that couldn’t be solved under traditional measures, says an insurer…
There are lessons to be learned from the current COVID-19 pandemic about how to protect clients against future pandemic losses, senior industry executives say. The Wimbledon Championships’ pandemic coverage, for example, was generally hailed as a success. The famed tennis…
B.C.’s Court of Appeal overturned a decision Wednesday against BCAA Insurance Corporation in a case that turned on the crucial difference between an “omission” and a “misrepresentation” in a home insurance application. Ultimately, the B.C. Court of Appeal ordered a…
The good news is that Canada has stringent rules around food and consumer products, which makes it no surprise that there can be many recalls. The flip side, however, is that insuring for recalls is taking its toll on the…
A push to require Ontario collision repair shops to meet minimum standards when repairing vehicles is expected to even out the playing field, make the claims process run more smoothly, help client satisfaction, make roads safer, and potentially bring down…
A solar energy developer has lost its appeal against Economical in a commercial coverage dispute regarding an additional insured, in which the policy wording referred to “liability arising out of the operations” of the insured. “Contractual insurance obligations and additional…
Bernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store
A leader in the Canadian P&C industry is sounding the alarm about the rise of litigation funding in Canada. Litigation funding is an arrangement in which a third-party company — not the plaintiff’s law firm — agrees to fund all…
British Columbia car rental companies that provide mud and snow tires in December or January are keeping the province’s Civil Resolution Tribunal busy. In Fraser v. ICBC, released Wednesday, the CRT ruled against a claimant who sought $5,000 in damages…