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Fairfax welcomes back former Canadian governor general to its board

October 5, 2020 by Greg Meckbach

Fairfax Financial Holdings Ltd. announced Monday that former Governor General of Canada David Johnston is back on its board of directors. Johnston had to step down from the Fairfax board when he became Governor General of Canada in 2010, the

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Insurers, collision repairers tout benefits of proposed mandatory certification

October 5, 2020 by Adam Malik

A push to require Ontario collision repair shops to meet minimum standards when repairing vehicles is expected to even out the playing field, make the claims process run more smoothly, help client satisfaction, make roads safer, and potentially bring down

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Doubling down on specialty

October 2, 2020 by Greg Meckbach, Associate Editor

Bernard McNulty, Allianz Global Corporate & Specialty’s new chief agent for Canada, explains the impact of the pandemic and what changes may be in store

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Why insurers incurred penalties for over-charging Alberta auto clients

October 2, 2020 by Greg Meckbach

Programming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to

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Watch out for litigation funding in Canada, industry execs warn

October 2, 2020 by Adam Malik

A leader in the Canadian P&C industry is sounding the alarm about the rise of litigation funding in Canada. Litigation funding is an arrangement in which a third-party company — not the plaintiff’s law firm — agrees to fund all

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One certifiable way to improve the driver’s claims journey

October 1, 2020 by Adam Malik

Drivers in Ontario can anticipate a smoother claims journey if collision repair shops in the province are certified in the future as expected, according to a pair of experts. Currently, the national trade association that represents collision repairers is in

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How business interruption verdict impacts trends clauses

September 30, 2020 by Greg Meckbach

If your clients are looking for business interruption coverage arising from the pandemic, a key question is whether there is a “trends clause” in their policy. “In policies with trends clauses, the calculation of loss of business income must take

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How insurers are shifting investment strategies amid the pandemic

September 30, 2020 by Greg Meckbach

Changing the mix of real estate portfolios, selling international exposures and considering increasing insurance prices are among the measures Canadian insurers are taking to compensate for the impact of COVID-19 on investment results. Intact Financial Corp.’s investment portfolio turns over

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Expectations and relevancy: What’s at risk for the P&C industry

September 30, 2020 by Adam Malik

If the property and casualty insurance industry doesn’t “come to grips” with meeting client needs, the industry is at risk of losing relevancy in the marketplace, warned an industry consultant. Phil Cook, who is also chairman of Omega Insurance Holdings,

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‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

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The collision industry is looking to certify shops. Will that impact auto premiums?

September 29, 2020 by Adam Malik

A push to certify Ontario collision repair shops could impact insurance rates and see premiums come down, says one automotive expert. Whether or not it does, such a move will still positively affect the insurance industry, adds an Insurance Bureau

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Intact warns of indirect economic impact from COVID

September 29, 2020 by Greg Meckbach

The economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said