Topic Claims
How auto insurers are promoting National Teen Driver Safety Week
October 20, 2020 by Greg MeckbachTeenagers are 3.1 times more likely to follow too closely than drivers older than 45, Manitoba’s auto insurer is warning. Teens are also 3.6 times more likely to lose control or drive off the road than drivers aged 45 and…
Insurer loses scooter claim because of a ‘deprecated’ sales receipt
October 20, 2020 by David GambrillIf a claim for a stolen scooter draws suspicion, an insurer will need to do more than just cite skepticism about the condition in which the power charger, keys and helmet are returned — especially if the electronic bike’s purchase…
If you thought cyber was hard to sell before…
October 20, 2020 by Adam MalikCyber claims have skyrocketed recently thanks to the COVID-19 pandemic, and the relatively young class of business has entered a hard market, meaning that an already-tough-to-sell insurance product may become an even harder sell, according to an expert in the…
How a smart phone can drive efficiency in the claims process
October 19, 2020 by Greg MeckbachUsing 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…
Gushing over oil storage
October 18, 2020 by Michael Freill, President, Mark 1 EngineeringHow Canada’s P&C insurers plugged a regulatory hole that exposed the industry to millions of dollars in claims every year
Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re
October 16, 2020 by Greg MeckbachThere is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national…
Why this client can only recover $50,000 on a $2.7-million commercial crime claim
October 16, 2020 by Greg MeckbachAn 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…
Storm System
October 15, 2020 by Greg Meckbach, Associate EditorSeveral pressures on rate suggest reinsurance premiums will rise during the January 2021 renewal season. By how much? Reinsurance execs look into the crystal ball
What Canada’s Supreme Court says about employers’ liability for bonuses
October 15, 2020 by Greg MeckbachA constructive dismissal award against a Halifax-based fish oil maker of nearly $1.1-million has been restored by the Supreme Court of Canada. When it comes to employment practices liability, a key lesson from Matthews v. Ocean Nutrition Canada Ltd., released…
Why parametric options should be on every broker’s radar
October 15, 2020 by Adam MalikAdvising 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…
Aviva Canada’s approach to the new pandemic workplace
October 15, 2020 by David GambrillAs the COVID-19 pandemic extends into the fall and winter months, with cases continuing to rise throughout the country, it is critical that the industry’s leaders foster a culture of trust within their P&C organizations moving forward, an Aviva Canada…
Why the court found the landlord responsible for this winter roof collapse
October 13, 2020 by Greg MeckbachA courier firm has successfully sued its landlord for $188,000 after the roof of its Halifax area warehouse collapsed under the weight of snow and ice. In Transport Canpar L.P. v. 3258042 Nova Scotia Limited, released Oct. 8, Justice Richard…