Topic Insurers
How the insurance industry can invest in climate sustainability
September 1, 2022 by Alyssa DiSabatinoClimate-friendly impact investments and those promoting resilience to the damaging effects of climate change are environmentally responsible ways for insurers to allocate their capital, suggests one insurance expert. Aside from charging premiums for policies, insurers turn a profit by…
Invoices don’t add up in commercial claim against RSA, court rules
September 1, 2022 by David GambrillOntario’s Superior Court has rejected two claims made by a clothes store operator against RSA for a total of $127,000 in lost inventory due to water damage, because the retailer could not prove the value of the lost merchandise. In…
New online platform ‘Bridges’ the gap between brokers and MGAs
August 31, 2022 by David GambrillCanadian managing general agencies (MGAs) have developed a new real-time, online platform that allows brokers to match their quote applications with MGAs underwriting that specific class of business. Once the match has been made, the platform promises to shave days,…
How much time you waste toggling between applications
August 31, 2022 by Alyssa DiSabatinoAs insurance becomes increasingly digitized, brokers and other professionals may feel as if they’re spending more time toggling between apps and websites than they are doing their jobs, but there may be a better way to spend the workday, according…
Canadian economic growth lags expectations in Q2; July estimate points to contraction
August 31, 2022 by The Canadian PressOTTAWA – Economists expect the Bank of Canada to move forward with another aggressive interest rate hike next week after the release of data showing the economy remained in relatively good shape during the second quarter of the year. The…
Feds’ task force reveals preferred flood insurance models
August 30, 2022 by Alyssa DiSabatinoA federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the…
One key difference between a builders’ risk policy and a liability policy
August 30, 2022 by David GambrillStarr Insurance & Reinsurance Limited does not have to defend its insured in a Quebec construction case, because its builders’ risk policy is essentially a property policy, not a liability policy, Quebec’s Superior Court has ruled. In construction, a builders’…
Number of impaired drivers issues alarm bell for insurer
August 29, 2022 by Alyssa DiSabatinoSaskatchewan Government Insurance statistics show a record this year in impaired driving offences. The province’s law enforcement stopped 497 impaired drivers, including 292 drivers who were charged with Criminal Code offences this July, according to SGI’s Traffic Safety Spotlight. “While…
Court sides with insurer in unidentified driver case
August 29, 2022 by David GambrillThe six-month notification period to make a claim under the unidentified driver portion of B.C.’s Insurance (Vehicle) Act won’t be extended, even though it took a year for the victim to become aware she could make such a claim, a…
Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?
August 26, 2022 by Philip PoradoCanadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need…
Insurer found vicariously liable for adjuster selling client information
August 26, 2022 by David GambrillB.C.’s public auto insurer has been held vicariously liable for a privacy breach, in which one of its claims adjusters sold client information to a third party that ultimately led to arson and shooting attacks. “Between April 2011 and January…
Grassroots orgs demand insurers withdraw coverage for Trans Mountain Pipeline
August 26, 2022 by Alyssa DiSabatinoLiberty Mutual Insurance is among a list of insurers being asked by grassroots and Indigenous organizations to withdraw insurance support for the Trans Mountain Pipeline, which carries crude and refined oil from Alberta to British Columbia. A petition with more…