When a storm hits, it’s no surprise that extreme wind can be a significant driver of insured losses — but wind may actually edge out water as the industry’s costliest weather event, said one industry expert. “From 2008 to…
Aviva Canada is piloting an eco-friendly claims process, part of its plan to become a net-zero company by 2040. Notably, the company is mobilizing its efforts to respond to climate change by recycling and sorting materials during the claims process.…
It’s only natural claims adjusting service levels will drop, given the large number of claims arising from the derecho that struck parts of Ontario and Quebec in May, says the president of the Canadian Independent Adjusters’ Association (CIAA). “Things like…
If the ongoing flooding in Manitoba and the Ontario/Quebec derecho storm of last month taught us anything, it’s that we must change how we think about natural disasters, argue the Institute for Catastrophic Loss Reduction’s Glenn McGillivray, and PhD candidate Korey Pasch,…
Nova Scotia has approved Facility Association’s approach to rating commercial auto in a way that trucking operators cannot “game the system” and get Nova Scotia’s lower premium rates when they drive more extensively in other Canadian provinces. Essentially, a “surcharge…
The president of the Canadian Independent Adjusters’ Association (CIAA) is hoping other provinces take note of how Ontario’s insurance regulator has approached adjuster capacity and licensing issues following the May 21 derecho that struck Ontario and Quebec. On May 31,…
Canada’s top court has essentially confirmed that an insurer’s duty to defend in a commercial insurance case involving a pollution exclusion will depend on the cause of the legal action. In refusing to hear an appeal by The Co-operators, the…
Brokers are typically leading conversations about inflation-driven insurance value adjustments for commercial building owners and builders, said Bernard McNulty, chief agent and head of claims, Allianz Global Corporate Specialty. But, he added, clients also are contacting brokers to inquire about…
Clean Harbors Canada, one of largest hazardous waste haulers in North America, is not on the hook to pay the cost of first-party fire damage to a truck owned and operated by one of its contractors, an Ontario court has…
The trend of above-average hurricane seasons is expected to continue this year and Canadian insurers should heed this warning by preparing Atlantic businesses for more severe hurricanes, according to Allianz Global Corporate & Specialty’s Atlantic Hurricane Season Outlook 2022. “Although Canada…
An Ontario court has rejected the privacy concerns of an auto accidents benefits claimant who refused to attend a psychological examination required by his insurer, finding that the claimant’s privacy concerns amounted to an abuse of process. Ali Baradaran Bagherian…
OTTAWA – In an unprecedented move, the Bank of Canada has announced a major increase to its key interest rate for the second time in two months as it forecasts higher consumer prices to come this year. The central bank…