Topic Claims
Do clients have a better handle on supply chain risk?
February 28, 2023 by Alyssa DiSabatinoMany businesses are still recovering from supply chain disruptions that shocked them during the height of the pandemic, and 80% of firms said a lack of insurance solutions is among the greatest challenges to addressing their risks, according to a…
Federal disaster aid program being overhauled to include climate adaptation
February 27, 2023 by Mia Rabson - THE CANADIAN PRESSOTTAWA – Canada’s overworked disaster assistance program is being overhauled so that future projects would only be eligible for aid if they take into account the need to adapt to climate change. Emergency Preparedness Minister Bill Blair, who was in…
Frigid conditions should lift in B.C., but incoming system to bring heavy snow
February 24, 2023 by The Canadian PressVANCOUVER – Extreme cold, Arctic outflow or snowfall warnings cover most of northern and central British Columbia as an icy and powerful storm sweeps over the province. Environment Canada says the accompanying wind chill has made conditions in those areas…
Government caps disaster assistance, lowers threshold for property buyouts
February 23, 2023 by Jason ContantAnother provincial government is changing the way it provides disaster financial assistance by capping assistance for claims related to the same type of disaster at $200,000. New Brunswick is increasing the maximum payout for structural damage to $200,000, setting a…
Court approves insurer’s settlement over COVID flight cancellations
February 23, 2023 by David GambrillOntario’s Superior Court has approved a $4.8-million settlement in a class action lawsuit related to the denial of travel insurance claims by TD Home and Auto Insurance for cancelled flights during the first months of the COVID-19 pandemic. During that…
Thousands in Ontario remain without power after winter storm
February 23, 2023 by The Canadian PressTORONTO – Hydro One says tens of thousands of its customers in southwestern Ontario lost power after Wednesday’s winter storm and some might have to wait until Friday night for it to be restored. The utility says more than 33,000…
How automation’s shifting on-site claims work to bigger losses
February 23, 2023 by Philip PoradoCOVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that…
B.C. adds $180 million to help communities prepare for natural disasters
February 22, 2023 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – Premier David Eby says he’s introducing more supports to better prepare British Columbia communities for natural disasters related to climate change before they happen. “The last few years have taught us a hard lesson about the impacts of…
How brokers can avoid an E&O lawsuit
February 22, 2023 by David GambrillA broker’s best defence against an errors and omissions (E&O) lawsuit can be summed up in three words — document, document, document. “You need to be able to prove you did [something],” broker E&O specialist Hugh Fardy, said in a…
Alberta, Saskatchewan methane emissions almost 4 times more than reported: research
February 21, 2023 by Jason ContantNew research using advanced technology suggests heavy oil facilities in Alberta and Saskatchewan are releasing almost four times the amount of a powerful greenhouse gas than they report to government. The research, published in the journal Environmental Science and Technology,…
Why 2022 was a good year for cyber insurers
February 21, 2023 by Jason ContantControls and underwriting actions that cyber insurers took over the course of 2020 and 2021 started paying off last year, a cybersecurity expert told Canadian Underwriter recently. “I think the cyber insurance industry in general had a much better year…
Pace of P&C industry cited as a reason for more broker E&O claims
February 17, 2023 by David GambrillThe frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…