Canadians object to distracted driving but a lot of them do it anyway, according to a 2022 distracted driving risk survey from Travelers Canada. A full 77% of those surveyed said distracted driving is ‘very risky and they take every…
Despite Interac payment systems and phone lines being down, most businesses will not have insurance coverage for any type of income loss as a result of the national Rogers outage on Friday, says one insurance expert. The outage, which…
With overall consumer inflation near 40-year highs, can sharply rising claims costs and social inflation be far behind? It’s too soon to tell, an Aon expert tells Canadian Underwriter. Speculation that consumer price inflation might spark social inflation for casualty…
LaSalle, Ont., has the highest home insurance premiums in the province right now, whereas Ajax, Ont., offers the least expensive home insurance premiums, according to the latest data from rate comparison site RatesDotCa. On average, home insurance premiums in Ontario…
Acting recklessly in breaching the confidential medical files of patients effectively falls within a hospital insurer’s commercial policy exclusion for committing an ‘intentional act,’ Ontario’s top court has ruled. The Ontario Court of Appeal found a hospital insurer, the Healthcare…
Remote work is now tied with the office as the place to do the most productive work, according to a new survey by recruitment and employment services provider Robert Half. Forty-two per cent of professionals report accomplishing more work at…
Intact Insurance has lost its bid to recover $2.9 million it paid above and beyond its $5-million insurance policy limit for cleaning up a 2012 chemical spill in North Bay, Ontario. Ontario’s Court of Appeal rejected Intact’s arguments that it…
Canada’s P&C insurance industry needs to get back to basics — unmet customer needs — when designing tech-enabled digital strategies and products, speakers said last week during an industry webinar. Too often, carriers or other industry stakeholders get involved in…
TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising…
Canadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes? Not every…
Commercial contracts often contain indemnities, and brokers should be prepared to address issues pertaining to indemnities within those contracts. Some clients may ask what an indemnity is. Simply put, it’s a promise to compensate another person for certain costs and…
Globally, insurance companies’ premiums are on the rise. Inflation and wartime sanctions are cited as two (among other) major factors in why global reinsurers are sliding into a harder market status as of recent July 1, 2022, renewals, according to…