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Business interruption class action against Aviva Canada now fully certified in Ontario

September 17, 2021 by Greg Meckbach

An Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording

News InsurersMergers and Aqcuisitions

Biggest insurers will soon control more of the market: A.M. Best

September 16, 2021 by Greg Meckbach

Canada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by

Quadcopter drone with 4K video camera flying in the air
News AdjustersCatastrophesClaimsClaims ProfessionalsClaims TechnologyCommercialInsurersProperty

Flying high: Drone use in insurance

September 16, 2021 by Brooke Smith

By 2022, 2.85 million small drones will be flying the friendly skies, according to projections by the Federal Aviation Administration. Our numbers are nowhere near as high. According to Transport Canada, as of Aug. 31, 63,200 drones were registered in

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss Trends

Why A.M. Best says the Canadian industry profitability is improving

September 15, 2021 by Greg Meckbach

Despite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The

News HRInsurers

How insurers are approaching mandatory vaccinations

September 15, 2021 by Jason Contant

Two Canadian mutual insurers have announced they are implementing vaccination policies for their workforces. Gore Mutual Insurance Company and Wawanesa Mutual Insurance Company made the announcements earlier this week. “After hearing from employees, and keeping the health and well-being at

News InsurersMGAs

Insurer, MGAs give employees more time off during pandemic

September 14, 2021 by Brooke Smith

The pandemic has spurred MGAs and one insurer to offer additional paid time off and be more generous with their vacation policies. AXA Group announced Sept. 7 that it was giving its 153,000 employees worldwide two additional paid days off

News ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialInsurersLegalLoss TrendsOntarioPropertyRisk Managers

Appeal court quashes ruling that ‘resulting physical damage’ can mean ‘loss of use’

September 13, 2021 by Greg Meckbach

Your commercial client could get business interruption coverage if they can no longer “use” their property, but only if the policy wording actually says so, a Court of Appeal for Ontario panel suggests. MDS Inc. v. Factory Mutual Insurance Company,

The roof of Mary Queen of Peace elementary school was torn off after Hurricane Larry crossed over Newfoundland's Avalon Peninsula in the early morning hours, in St. John's, Saturday, Sept. 11, 2021. THE CANADIAN PRESS/Paul Daly
News AdjustersBrokersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsCommercialInsurersLoss TrendsNewfoundland & LabradorPersonal HomeProperty

What we know so far about Canadian Hurricane Larry claims

September 12, 2021 by Greg Meckbach

Kent Rowe cannot remember winds as bad as they were this past weekend in the Newfoundland and Labrador capital. “We saw gusts here in St. John’s of up to 145 kilometres an hour that lasted for about five or six

News ClaimsInsurersPersonal AutoTechnology

Will electric vehicles increase the severity of motor vehicle injuries?

September 12, 2021 by Jason Contant

Occupants in electric vehicles (EVs) and hybrid models are less likely to be injured in a crash than people in similar gas-powered vehicles, according to a new report. Lithium-ion batteries is the primary power source for today’s EVs. This means

News BrokersCommercialInsurersMergers and AqcuisitionsMGAs

Why and where Intact wants to buy more MGAs

September 12, 2021 by Greg Meckbach

Don’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles

News CatastrophesClaimsInsurers

Outlook for reinsurers improves post-pandemic

September 8, 2021 by James Langton, Investment Executive

Despite a recent string hurricanes, floods, wildfires and other natural disasters, the outlook for the global reinsurance sector is improving, according to rating agencies Moody’s Investors Service and Fitch Ratings. In a new report, Moody’s said the outlook for the

News InsurersLoss Control

Bank of Canada keeps key interest rate target on hold, citing pandemic-related risks

September 8, 2021 by Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate target on hold Wednesday as it warned the fourth wave of the pandemic and supply bottlenecks could weigh on the economic recovery. The central bank held its target for