Topic Claims
Claims adjuster appoints new director of investigation services in Canada
January 26, 2022 by Jason ContantClaims adjusting firm Sedgwick has appointed Mandy Yousif as director of investigation services in Canada. Ontario-based Yousif will lead Sedgwick’s new research and intelligence division for Canada. Sedgwick’s research and intelligence division allows its team of certified experts to provide…
Crawford licensee ordered to pay $10K for supervision mix-ups
January 26, 2022 by Alyssa DiSabatinoThe Insurance Council of Manitoba (ICM) has fined a licensee from Crawford & Company a total of $10,000 – $5,000, plus an additional $5,000 for the assessed partial investigation costs – for failing to ensure adequate on-site supervision of the…
Bank of Canada keeps key interest rate target on hold, but warns of looming hikes
January 26, 2022 by Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won’t stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020…
Court sides with insurer in multi-million-dollar spat over sublimits
January 21, 2022 by David GambrillB.C.’s Supreme Court has upheld an insurer’s insistence that a mining company’s business interruption losses were subject to a $10-millon sublimit and not to the full policy limit of $250 million. That said, the court did not agree with the…
The case for tracking your risk advice
January 19, 2022 by David GambrillThe City of Revelstoke, B.C., has been found 35% contributorily negligent for not adhering to a recommendation contained in a 2011 risk management audit, which advised to maintain painted ‘No diving’ signs on a raft in Williamson Lake Park. “The…
Annual inflation rate hits 30-year high, upping pressure on Bank of Canada
January 19, 2022 by Jordan Press - THE CANADIAN PRESSOTTAWA – Headline inflation in Canada hit a 30-year high at the end 2021 with warnings from economists that the pace of price increases could rise even higher and stirring expectations of a central bank response before the month is…
Signs for optimism in the condo insurance market?
January 18, 2022 by Jason ContantCondo insurance premiums in Canada appear to be stabilizing following years of premium and deductible increases. “You should see some flattening, maybe some tapering, in some insurance rates in this sector in the near future for most good risks and…
Claims costs keep rising for B.C. catastrophes
January 18, 2022 by Jason ContantBritish Columbia’s costliest severe weather event in provincial history just got more expensive. Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Friday that the Canadian property and casualty insurance industry expects to pay out $515 million for claims…
Manitoba grand chief says $85.5M settlement for flood damage is fair
January 18, 2022 by The Canadian PressWINNIPEG – The grand chief of the Assembly of Manitoba Chiefs says the latest court settlement for property owners affected by devastating flooding more than a decade ago is fair. The Manitoba government diverted water from the Assiniboine River to…
Crawford’s new national TPA sales director for Canada
January 17, 2022 by David GambrillCrawford & Company has promoted Victoria Hanson to be its director of sales, National TPA (third party administrator) in Canada. She will report to Jeff Setterington, Crawford Canada’s vice president of sales, effective immediately. “Victoria has a strong proven track…
Ontario snowstorm isn’t a Cat event – yet
January 17, 2022 by Philip PoradoHeavy snowfall in Ontario isn’t resulting in claim levels associated with a catastrophe event. But time may tell a different story. “We are seeing some increase in auto claims which is typical for snowstorms,” Heather Matthews, chief client officer of…
Court favours insurer in case that differentiates between leasing and financing
January 14, 2022 by David GambrillB.C.’s public insurer is off the hook to pay for vandalism damage done to a car that was jointly owned by the driver and his finance company, because the arrangement between the two car owners was not a true lease.…