Topic Claims
As cyber attacks increase, insurers in the space face rising losses
October 13, 2021 by James Langton - Advisor's EdgeAmid rising losses and increasing claims on cyber insurance, companies that provide insurance against online hackers are facing growing risks, says Fitch Ratings. In a new report, the rating agency said that while cyber insurance has been a profitable line…
The shifting trends in cargo theft
October 13, 2021 by Jason ContantThe COVID-19 pandemic has affected a number of P&C insurance industry segments from auto to business interruption, and cargo theft is no exception. Large events such as the pandemic will result in shifts to the methods and types of goods…
Ontario auto claimants seek leave to appeal HST dispute to Supreme Court
October 13, 2021 by Greg MeckbachA dispute over the handling of sales tax in Ontario auto accident benefits claims could reach the Supreme Court of Canada. In 2018, several auto clients filed lawsuits in Ontario against accident benefits insurers. Plaintiffs allege those carriers either included…
How to prevent auto insurance fraud
October 12, 2021 by Brooke SmithThere are honest drivers on the roads. In fact, a 2021 survey by ValuePenguin indicates that 78% of consumers say they’ve never lied to their auto insurers. However, 8% have “misinformed” their insurers about the drivers in their households, and…
Double extortion: The new cyber threat
October 12, 2021 by Jason ContantYour cyber clients may now be exposed to two risks in one, as the sophistication of ransomware attack patterns continue to increase. “There’s double extortion tactics which are just crippling organizations now,” said Greg Markell, president and CEO of Ridge…
Auto client loses GAP insurance coverage dispute
October 6, 2021 by Greg MeckbachA New Brunswick judge ruled last week in favour of a guaranteed asset protection (GAP) insurance provider that denied a claim from a motorist who borrowed money to buy a vehicle which was later destroyed by fire. In 2017, Jason…
What consumers want from the claims experience
October 6, 2021 by Jason ContantConsumers are looking for a hybrid claims processing model — an intermixing of virtual and self-service with human adjuster interaction, according to the Future of Claims 2021 Report from LexisNexis Risk Solutions. “No matter how great the technology is, consumers…
Liberty Mutual Canada VP dies in plane accident
October 6, 2021 by Greg MeckbachA Montreal-based claims executive with Liberty Mutual is one of eight people who died Sunday after an airplane crashed in Italy. Julien Brossard, who was Liberty Mutual Canada’s vice president of specialty claims, joined the insurer in 2012. A Pilatus…
A fire season like none other
October 6, 2021 by Jason Contant, Online EditorEven as B.C. wildfires continue to burn, investigations begin and claims start rolling in.
Tornado blows change through Ontario bylaws
October 5, 2021 by Jason Contant, Online EditorMunicipalities respond to series of tornadoes with new rules governing building construction.
7 in 10 Canadian organizations facing ransomware attacks paid demands: survey
October 5, 2021 by Salmaan Farooqui - THE CANADIAN PRESSCybersecurity experts say a new poll that suggests nearly 70 per cent of Canadian organizations facing a ransomware attack last year paid the demands is evidence that such payments should be made illegal. Of the businesses surveyed, 17 per cent…
Off the rails again: Ottawa’s troublesome trains keep jumping the tracks
October 4, 2021 by Laura Osman - THE CANADIAN PRESSOTTAWA – The gravel strewn across the bike path was the first sign of trouble. Ottawa resident Steven Grant was out for a ride on Sept. 19 when he noticed an LRT train stopped in the middle of the tracks.…