Topic Claims
Do younger Canadians planning vacations value travel insurance?
February 2, 2023 by Canadian Underwriter StaffMaking up for the inability to travel during the pandemic is top of mind for 70% of Canadian millennials, who told an Allianz Global Assistance survey conducted by Ipsos they’ll be taking a vacation this year. Of those saying they’ll…
Unexpected construction issues, rising labour costs increase pipeline cost to $14.5 billion
February 1, 2023 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – The estimated cost of the Coastal GasLink pipeline has increased by 29 per cent to $14.5 billion, as the company behind the project continues to be dogged by unexpected construction issues and rising labour costs. Calgary-based TC Energy…
Marsh McLennan names CEO for U.S. and Canada
February 1, 2023 by David GambrillPat Tomlinson has been named U.S. and Canada CEO of Marsh McLennan, the company announced Wednesday. Flavio Piccolomini has been named International CEO. Together, Tomlinson and Piccolomini will lead a new collaborative effort by the company to serve clients across…
Lawsuit over fall at historic Nova Scotia lighthouse allowed to proceed
January 31, 2023 by Keith Doucette - THE CANADIAN PRESSHALIFAX – An American tourist who alleges she was injured in a fall at Nova Scotia’s historic Five Islands Lighthouse in July 2017 can proceed with her lawsuit, a Nova Scotia judge has ruled. Mary Riddle of Pennsylvania is suing…
What a Canadian public earthquake backstop might look like
January 31, 2023 by David GambrillA federal government backstop designed to help private insurers cover high-risk flooding could be extended to protect Canadians from earthquake risk as well, Canada’s home, car and business insurers suggested in a release Tuesday. Meanwhile, in the absence of a…
Length of car rental for collision claims keeps getting higher
January 31, 2023 by Alyssa DiSabatinoAuto insurers can expect their policyholders’ average length of rental (LOR) for collision-related claims to reach 17.1 days — an increase of 4.3 days from the prior year and 0.6 days from Q3, Enterprise’s 2022 Q4 data shows. “While the…
Claimant can’t resume auto AB payments after 13 months on the job
January 30, 2023 by David GambrillA New Brunswick woman injured in an auto accident is not entitled to resume her accident benefits payments 13 months after returning to work, the province’s top court has ruled. New Brunswick’s Court of Appeal sided with her auto insurer,…
Is inflation affecting how policyholders drive?
January 30, 2023 by Alyssa DiSabatinoInsurers had predicted consumer driving habits would return to pre-pandemic levels during 2022, or 2023 at the latest, but inflation may be throwing a wrench in those forecasts, said a recent industry survey. Almost half (48%) of Canadians have made…
Meteorologist explains why future NatCat claims won’t get any better
January 27, 2023 by Alyssa DiSabatinoAs the climate warms, even predictable weather patterns — like El Niño and La Niña, which are affected by rising sea temperatures — are changing alongside the climate, a weather expert warns. And that could mean more frequent and severe…
Borrowing cars and implied consent: When ‘No’ doesn’t mean ‘No.’
January 27, 2023 by David GambrillIf a friend asks you to borrow your rental car, sometimes saying ‘No’ doesn’t actually mean ‘No.’ An auto repair shop owner in Ontario was held vicariously liable last Wednesday for an auto accident injury caused after his friend, who…
Why 2022 industry results could be one for the record books
January 27, 2023 by Jason ContantHistorically good underwriting combined with historically bad investment results have made the Canadian P&C industry’s 2022 Q3 financial results unique, per the latest quarterly report from the Property and Casualty Insurance Compensation Corporation (PACICC). The decline in investment returns is…
Does your client need D&O or an ancillary coverage?
January 26, 2023 by Philip PoradoWhile directors and officers (D&O) insurance is designed to cover individuals and corporate assets on the broadest threat level, certain exposures may require separate, dedicated policies focused on specific risks. When claim scenarios are investigated, it may become clear a…