Topic Claims Professionals
How Hurricane Ian will strain insurers’ capacity
October 3, 2022 by Philip PoradoHurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive…
What happened to the ‘quiet’ hurricane season?
September 30, 2022 by Jason ContantNot long ago, hurricane season began very quietly with no North Atlantic hurricanes in all of August. But now it appears 2022 could produce a record-breaking hurricane. Property data provider CoreLogic is predicting Hurricane Ian could be the costliest Florida…
What claims adjusters are seeing from Fiona
September 28, 2022 by Jason ContantClaims adjusters are seeing a wide variety of personal and commercial lines claims in the wake of post-tropical storm Fiona – everything from food spoilage and infrastructure claims to total losses. “Currently, we are seeing claims for personal and commercial…
How to ensure your clients’ property values are accurate amid volatility
September 26, 2022 by Alyssa Di SabatinoInaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported…
Promise to insure trumps cross-indemnification, court rules
September 8, 2022 by David GambrillIn a commercial hull and machinery insurance policy containing cross-indemnities, a promise to insure by one party trumps the indemnity by the other unless the contract clearly states otherwise, B.C.’s Supreme Court has ruled in a case involving two separate…
Commercial insurer, brokerage granted right to a jury trial in marine claim
September 7, 2022 by David GambrillA B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…
Jim Abernethy Challenge: Can P&C industry top $500K for blood cancer research?
September 2, 2022 by David GambrillIn this year’s second annual Jim Abernethy Challenge, the Leukemia & Lymphoma Society of Canada hopes Canadian P&C insurance professionals can help top last year’s $500,000 contribution to blood cancer research and community support. The Jim Abernethy Challenge is part…
Invoices don’t add up in commercial claim against RSA, court rules
September 1, 2022 by David GambrillOntario’s Superior Court has rejected two claims made by a clothes store operator against RSA for a total of $127,000 in lost inventory due to water damage, because the retailer could not prove the value of the lost merchandise. In…
Insurer found vicariously liable for adjuster selling client information
August 26, 2022 by David GambrillB.C.’s public auto insurer has been held vicariously liable for a privacy breach, in which one of its claims adjusters sold client information to a third party that ultimately led to arson and shooting attacks. “Between April 2011 and January…
What insurers are doing to improve recruiting
August 23, 2022 by Philip PoradoIt’s not your imagination, COVID-19 really did throw a wrench into the insurance industry’s ability to hire and retain talent, says a new Deloitte report on the state of Canada’s P&C industry. It found industry demand for people with the…
Deloitte report: How microeconomic factors will impact claims costs
August 17, 2022 by Philip PoradoYes, overall inflation is high. One trip to the grocery store demonstrates that faster than a macroeconomics refresher lecture. So will a glance at Canada’s June 2022 Consumer Price Index, which jumped 8.1% over the prior year to mark its…
Client anger: It’s getting tough out there for insurers
August 12, 2022 by David GambrillSaskatchewan’s privacy officer has allowed the government’s auto insurer to withhold portions of a claimant’s risk assessment, on the basis that revealing the information could conceivably lead to injury or harm to its employees. However, the privacy commissioner required Saskatchewan…