Topic Adjusters
Home insurer goes after ventilation unit manufacturers in subrogated fire claim
March 10, 2021 by Greg MeckbachA subrogated claim arising from a Hamilton area home fire is raising the question of which equipment manufacturer, if any, is liable. In 2013, a fire caused extensive damage to the Ancaster, Ont., home of Mary Arlene and Rudolf Dosen.…
Why dirt bike accident victim can get Ontario auto accident benefits
March 6, 2021 by Greg MeckbachAn Ontario claimant who suffered a severely disabling injury after falling off his dirt bike during a competition is entitled to accident benefits under his auto policy. This is the result of Beaudin v. Travelers Insurance Company of Canada, released…
By how much productivity for restoration firms dropped in the pandemic
March 6, 2021 by Adam MalikThe head of a claims restoration company says it’s reasonable to believe that productivity in his company and the industry as a whole has dropped by nearly 20% due to the global COVID-19 pandemic. That would be on par with…
Lessons learned from ‘the toughest Cat season’
March 2, 2021 by Adam MalikThe COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the…
The future of auto claims if everyone keeps working from home
February 23, 2021 by David GambrillAuto insurers will be watching very carefully to see how future working-from-home arrangements will affect downtown traffic patterns — and hence, auto insurance claims — during the post-pandemic era, says an RSA Canada claims executive. Government lockdowns to avoid the…
Cat counter starts the year at $134 million for winter storms
February 19, 2021 by David GambrillFor the Canadian P&C insurance industry, Cat activity roared in like a lion in January, but has looked more like a kitten since then. Two winter storms in Western Canada caused more than $134 million in insured damage, based on…
Property restoration space has ‘big capacity’ issue: Brindamour
February 19, 2021 by Greg MeckbachIntact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade…
How much COVID business interruption claims could cost Fairfax
February 17, 2021 by Greg MeckbachBusiness interruption claims arising from the COVID-19 pandemic are expected to cost Fairfax Financial Holdings Ltd. nearly Cdn$300 million. Toronto-based Fairfax released Feb. 11 its financial results for 2020, reporting US$669 million in COVID-19 losses across all of its insurers.…
What’s making it harder to estimate property Cat claims
February 17, 2021 by Greg MeckbachRecent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in…
Insurers beware: Why your settlements may not be secure
February 16, 2021 by Canadian UnderwriterA record-keeping blunder more than 50 years ago means London, Ont.’s Catholic diocese faces a new multi-million-dollar lawsuit over sexual abuse during the early 1970s of an elementary school student by a priest. The Supreme Court of Canada announced Feb.…
How COVID-19 has affected repair of vehicles from hail
February 12, 2021 by Greg MeckbachThe COVID-19 pandemic has created some barriers to repairing vehicle and property damage – including a shortage of auto body parts, and a labour shortage impacted by Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work,…
How much the second COVID wave will probably add to Intact’s claims costs
February 10, 2021 by Greg MeckbachIntact Financial Corp. has now reserved $106 million for claims related to COVID-19, with $23 million of that booked during the last three months of 2020. Intact initially set aside $83 million in reserves for COVID-19 claims during the three…