Topic Claims
Frustrated brokers ready to drop carriers over flood confusion
November 24, 2017 by Greg Meckbach, Associate EditorSwirling in the eddies of confusion about overland coverage, frustrated Canadian brokers are threatening to drop carriers and are worried about errors and omission (E&O) claims related to overland flood insurance. Canada-wide, there is a “host of wordings out there”…
Why an insurer invites mandatory fraud reporting
November 23, 2017 by Greg Meckbach, Associate EditorInsurers in Canada should have no choice but to report to fraud to law enforcement and to industry peers, be it is claims for healthcare services that were not provided or bills for repairs that were never done, an Aviva…
Provincial brokers hearing consumer demand for electronic pink slips
November 23, 2017 by Greg Meckbach, Associate EditorNova Scotia motorists will probably get permission early next year to present electronic proof of auto insurance without having to carry paper pink slips in their vehicles, the president of the province’s broker association predicts. Insurance Brokers Association of Nova…
Top 3 most dangerous places to drive in Canada
November 22, 2017 by Canadian UnderwriterHalifax has the highest collision frequency rate (7.9%) in Canada this year, according to the Allstate Insurance Company of Canada’s 2017 Safe Driving Study. It’s the third consecutive year that Halifax has topped Allstate’s study of collision frequency in Canada.…
More Windsor residents eligible for Ontario government flood relief
November 20, 2017 by Greg Meckbach, Associate EditorNearly three months after torrential downpours gave rise to more than $100 million in insured losses in and near Windsor, the Ontario government announced Monday it has expanded the number of property owners eligible for disaster relief. “Expanding the original…
California wildfires could cost insurers up to US$8 billion: Aon Benfield
November 9, 2017 by Canadian UnderwriterHistoric wildfires in portions of California last month could cost insurers as much as US$8 billion, according to Aon Benfield’s Global Catastrophe Recap for October. The report, released on Thursday by Impact Forecasting, the catastrophe modelling development centre of Aon…
Insured losses from Cyclone Debbie reach AUS$1.5 billion, 85% of claims closed
November 7, 2017 by Canadian UnderwriterInsurers have paid AUS$1 billion in claims related to Cyclone Debbie, with more than 85% of claims now closed, the Insurance Council of Australia (ICA) reported on Monday. Cyclone Debbie now ranks as the second-most expensive cyclone in Australian history,…
ICLR to hold webinar on homes impacted by Hurricane Irma
November 7, 2017 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will soon be hosting its final Friday Forum of the year, focusing on Hurricane Irma and impacted homes in Florida. The webinar – Hurricane Irma Damage Assessment: Investigating the performance of Florida’s homes…
Insurer exploration of artificial intelligence accelerating: InsurTechTO speaker
November 7, 2017 by Angela StelmakowichIt is still “early days” for most insurers in Canada when it comes to employing artificial intelligence (AI), but exploration and use of the techniques is accelerating very quickly, Greg McCutcheon suggested Monday during InsurTechTO in downtown Toronto. “I would…
Allianz trials blockchain prototype for the captive insurance market
November 7, 2017 by Canadian UnderwriterInternational insurance transactions can be significantly accelerated and simplified, suggests a trial by Allianz Global Corporate & Specialty (AGCS) involving the successful implementation of a blockchain prototype for the captive insurance market. “We are currently seeing many blockchain applications in…
California asks US for $7.4 billion for wildfire rebuilding
November 6, 2017 by Olga R. Rodriguez - THE ASSOCIATED PRESSSAN FRANCISCO – California Gov. Jerry Brown and lawmakers asked the U.S. government Friday for $7.4 billion to help rebuild after a cluster of fires tore through the heart of wine country, killing more than 40 people and leaving thousands…
Moving dangerous product by rail continues to be popular, despite Lac-Mégantic disaster: speaker
November 6, 2017 by Jason Contant, Online EditorDespite the Lac-Mégantic train derailment in July 2013 that claimed the lives of 47 people, destroyed more than 30 buildings and released about 6.3 million litres of oil into the environment, “moving any type of dangerous product by rail continues…