Topic Claims
Are your condo clients covered for ‘special assessment’ costs?
June 2, 2021 by David GambrillIn an age when a condo corporation’s insurance may not provide enough coverage for an insured loss, brokers can help their clients by advising condo unit owners about the merits of special assessment insurance, one lawyer suggests. “It is important…
In a virtual world, don’t lose your humanity: insurer exec
June 1, 2021 by Adam MalikAs the world gets more and more virtual, don’t forget how to be human, an insurer executive urged during a recent webinar. Technology should be used to enhance the industry’s relationship with clients, rather than act as a replacement, explained…
Should insurers (and others) be banned from making cyber ransom payments?
May 30, 2021 by David GambrillEditor’s Note: A previous verison of this article incorrectly stated that a cyberattack against AXA had happened after AXA’s announcement that it was suspecnding insurance coverage in France for ransomeware extortion payments. In fact, as per a Financial Times report…
Restoration firm suing DKI Canada over termination of agreement
May 30, 2021 by Greg MeckbachRestoration firm DKI Canada Ltd. is being sued in British Columbia by Coquitlam-based Canstar Restorations Limited Partnership, a former member of the DKI network. Allegations in the lawsuit have not been proven in court. Until 2020, Canstar was operating multiple…
Insurers monitor battle within auto industry over car data ownership
May 30, 2021 by Adam MalikThe outcome of a current standoff between auto manufacturers and the automotive aftermarket industry over who owns the data generated by automated cars will have implications for the insurance industry, according to an insurance executive. “If the data is owned…
Canada Post says 950,000 customers potentially exposed to supplier data breach
May 28, 2021 by The Canadian PressOTTAWA – Canada Post says more than 950,000 customers were potentially exposed in a data breach attack on one of its suppliers. The Crown agency says it was informed by Commport Communications earlier this month that the manifest data held…
Appeal court rules for insurers in handling of HST in auto AB claims
May 27, 2021 by Greg MeckbachOntario auto insurance claimants cannot take insurers directly to court over how carriers treat sales tax on accident benefits claims, the province’s appeal court has ruled. This is because the province’s Licence Appeal Tribunal, not the Superior Court of Justice,…
B.C. deploys crews to Manitoba to assist with several aggressive wildfires
May 27, 2021 by The Canadian PressVICTORIA – A crew of firefighters is heading to Manitoba to help with wildfires in that province. B.C.’s Forests Minister Katrine Conroy says 41 firefighters and two support staff were deployed on Wednesday. A statement from Conroy’s office says the…
Cyber insurance experts debunk conspiracy theories
May 26, 2021 by Adam MalikOne cybercriminal recently mused online that hackers are incentivized to launch cyberattacks because companies have cyber insurance coverage, a theory recently debunked by cyber insurance experts. The cybercriminal’s rationale? Since insurance exists for the victims, the hackers will be paid.…
Fracking likely to create stronger, more common earthquakes in B.C., study says
May 26, 2021 by Bob Weber - THE CANADIAN PRESSMore damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,…
What B.C. trial lawyers are asking of Canada’s top court in RSA dispute
May 25, 2021 by Greg MeckbachThe Trial Lawyers Association of British Columbia is asking Canada’s top court to essentially make a “new law” barring a liability insurer from taking an off-coverage position after starting to defend a tort claim if the insurer previously had “presumed…
What’s needed to alleviate municipal insurance pressure
May 25, 2021 by Adam MalikMunicipal insurance rates have been rising significantly and the only way to bring them down isn’t only in the hands of the insurance industry, according to a brokerage leader. It’ll take a team effort from multiple parties. Canadian municipalities have…