Topic Insurers
Address misrepresentation a ‘growing problem’: Aviva Canada exec
July 30, 2021 by Canadian Underwriter StaffAviva Canada is reporting a spike in insurance claims that involve misrepresented addresses, leading one executive to call for greater awareness around the issue. According to chief claims officer Bryant Vernon, Aviva Canada data shows a 9.1% increase in Ontario…
Here’s the timeline for converting RSA policies to Intact
July 30, 2021 by Greg MeckbachNova Scotia motorists with RSA insurance policies can renew through RSA until November 4, the province’s auto insurance regulator said in its July 28 ruling on Intact Insurance Company’s rate filing. On June 1, Intact Financial Corp. closed its acquisition…
Why avid cottagers should consider standalone coverage
July 29, 2021 by Canadian UnderwriterAvid cottage enthusiasts may benefit from some of the “bells and whistles” offered in a standalone policy, as opposed to simply attaching their recreational homes to existing homeowner policies, according to a lifestyle insurance expert at Aviva Canada. Benefits of…
Court clarifies definition of ‘newly acquired automobile’ in motorcycle accident case
July 29, 2021 by Jason ContantA newly acquired motorcycle is considered a “newly acquired automobile” for the purpose of accident benefits under the Ontario Automobile Policy (OAP 1), a panel of three Ontario judges has found. The Divisional Court considered a statutory appeal of the…
Home insurance rates dropping but no reprieve for condo owners
July 28, 2021 by Jason ContantPersonal property premiums were a mixed bag in the first quarter of 2021, with insurance for condo owners continuing to rise, but home insurance rates trending down, according to a new report from LowestRates.ca released Tuesday. Year-over-year, home insurance premiums…
Why many brokers need to change their auto quoting process
July 28, 2021 by Greg MeckbachMany brokerages that use AutoPlus to obtain auto insurance quotes will likely have to change their processes over the next couple of months. AutoPlus’s vendor, CGI Group Inc., will start updating that online database product Aug. 13, says the Insurance…
Annual rate of inflation hits 3.1% in June, down slightly from May high
July 28, 2021 by Jordan Press - THE CANADIAN PRESSOTTAWA – The country’s headline inflation barometer registered a year-over-year increase of 3.1 per cent last month as the pace of price growth slowed in June compared with the decade-fast pace one month ago. June’s reading for the consumer price…
How much ransom demands are increasing for your cyber clients
July 27, 2021 by Jason ContantAverage ransom demands have increased nearly threefold and smaller companies are experiencing more cyberattacks, according to the results of Coalition Inc.’s latest cyber insurance claims report. From the first half of 2020 to H1 2021, the average ransom demand made…
Why this auto insurer will stop discount for autonomous emergency braking
July 27, 2021 by Greg MeckbachNova Scotia motorists who purchase autonomous emergency braking systems will no longer qualify for a discount with one insurer as of October. In Nova Scotia, Aviva General Insurance Company has a 15% discount, to bodily injury and accident benefits insurance…
The impact of Gore Mutual’s new operating model
July 26, 2021 by Greg MeckbachGore Mutual has gone live with technology that lets the carrier bind policies for brokers, in minutes in some cases. The Cambridge, Ont.-based property and casualty insurer “has completely changed the operating model for personal lines,” CEO Andy Taylor said…
Former Bermuda reinsurer CEO now on Intact board of directors
July 23, 2021 by Greg MeckbachEmmanuel Clarke, a former CEO of Bermuda insurer PartnerRe Ltd., is now on Intact Financial Corporation’s board of directors, Toronto-based Intact announced Thursday. Clarke, a French national, was appointed CEO of PartnerRe in 2016, shortly after EXOR S.p.A. completed its…
Cyclist loses bid to summon the Queen to court in auto insurance case
July 23, 2021 by David GambrillA B.C. cyclist injured in a car collision has lost his bid to demand an audience with Her Majesty Queen Elizabeth II in an effort to make his case against the province’s public auto insurer. In addition to seeking an…