Topic Claims
Safety tech in cars isn’t reducing insurers’ claims costs
February 27, 2024 by David GambrillMuch has been made of the new electronic safety tech in cars, but it doesn’t seem to be making a dent in auto insurers’ claims costs, according to a new report by Rates.ca. “You might expect that with more safety…
Pricing still affects brokers’ ability to sell cyber
February 27, 2024 by David GambrillTo the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price…
Why Co-operators posted an underwriting loss in 2023
February 26, 2024 by Alyssa DiSabatinoCo-operators General Insurance Company reported an annual underwriting loss of $184 million in 2023. This figure, which excludes discounting and risk adjustment, accounts for “a decline of $356.2 million from the underwriting gain of $171.3 million in the same period of 2022.” Discounted estimates…
Here’s what creates risks for hospitality providers in 2024
February 26, 2024 by Philip PoradoAs Canada eases out of the COVID-19 pandemic, the country’s restaurateurs, hoteliers, and event venue operators face a multitude of risks. Changes over the past four years have hospitality providers swimming in a toxic soup of pandemic-stunted social habits, inflation-dented…
Why this Uber driver was not injured in an auto accident
February 26, 2024 by David GambrillAn Uber driver who slipped on ice when helping a passenger load the trunk was not involved in an auto ‘accident,’ the Ontario Licence Appeal Tribunal has ruled. The ruling is consistent with a trend in Ontario case law over…
As planet warms, ferocious snowfalls like the one that hit Nova Scotia could increase
February 26, 2024 by Hina Alam, The Canadian PressATLANTIC CANADA – Forecasters say a warming global climate could actually cause some parts of Canada to see colder conditions, including heavy snowfalls like the one that hit parts of the Maritimes this week. There’s a direct relationship between the…
Will bigger vehicles lead to bigger claims?
February 23, 2024 by Philip PoradoWith accident rates climbing, one growing area of concern is that vehicles are becoming much larger. For example, rapid changes in vehicle specs mean full-size SUVs from 1999 would today meet the gearhead moniker of ‘Cute Ute.’ With sport utility…
Sports insurers urged to consider video review
February 22, 2024 by David GambrillA legal firm urges sports insurers to require their sports association clients to install cameras to record the action, following the B.C. Court of Appeal’s January 2024 decision in Cox v. Miller. In Cox v Miller, the court found Karl…
Federal government announces $15 million to combat car thefts across Canada
February 22, 2024 by The Canadian PressMONTREAL – The federal government is committing an additional $15 million over three years to fight the rise in vehicle thefts across the country. Minister of Public Safety Dominic LeBlanc made the announcement yesterday in Montreal. LeBlanc said $9 million…
Managing insurer concerns about knob-and-tube wiring
February 21, 2024 by Brian Cook, PowerCheckMost insurers see homes with knob-and-tube wiring, aluminum wiring, and 60-amp service as high-risk, which prevents clients with those systems from easily obtaining home insurance. But are wiring types and service levels really the culprits causing fires? I’ve examined electrical…
Warm and dry weather prompts Alberta to declare an early start to wildfire season
February 21, 2024 by The Canadian PressEDMONTON – The Alberta government has declared an early start to the 2024 wildfire season in the face of low snowpacks and forecasts of dry weather to come. Alberta Forestry and Parks Minister Todd Loewen said Tuesday the season is…
How insurers can help manage flood risk in Indigenous communities
February 20, 2024 by Jason ContantInsurers need to play a greater role in helping to manage high-risk flood areas in Indigenous communities, a tribal chief said during the CatIQ Connect conference earlier this month. “At some point, you as insurers are going to have to…