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Topic Loss Control

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OSFI releases new (and softer) proposed rule on high-limit policies

December 3, 2020 by David Gambrill

Canada’s solvency regulator has come out with a softer version of its proposed rule regarding the property and casualty insurance industry’s issuance of high-limit policies. The new version is in response to the industry’s previous concerns about the massive $21-billion

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Big Moves: New market entrant in Canada launches with a familiar face

December 3, 2020 by Canadian Underwriter Staff

Haag Global has picked the former CEO of Giffin Koerth, now known as 30 Forensic Engineering, as its leader

News CommercialEmerging RisksEnvironmentalInsurersLoss ControlMergers and Aqcuisitions

Investors increasingly asking about insurers’ environmental practices: CFOs

December 2, 2020 by Jason Contant

Investors are increasingly asking insurers about environmental, social and corporate governance (ESG) practices and how they are being managed, Intact Financial Corporation’s senior vice president and chief financial officer, Louis Marcotte, said recently. “In some cases, when we meet investors,

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What brokers should be telling their hospitality clients

December 2, 2020 by Adam Malik

Brokers are having some frank conversations with clients in the hotel and restaurant business about the realities they’re facing and how to survive the troubles ahead, says a hospitality broker leader. “The truth is that if anybody is going to

News AdjustersB.C.ClaimsClaims Canada ArchiveInsurersLegalLiabilityLoss ControlLoss TrendsPersonal Auto

Public not aware of rights lost in B.C.’s no-fault auto scheme: personal injury lawyer

December 1, 2020 by Greg Meckbach

The average British Columbia consumer does not really understand what rights they will lose with the auto insurance reforms scheduled to take effect this May, a Vancouver personal injury lawyer warns. Provincial politicians voted earlier this year to pass Bill

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Aviva CEO sides with science against fruitless conjecture around climate risk

November 27, 2020 by Adam Malik

Aviva Canada CEO Jason Storah has no time for arguing about the validity of climate change and the threats facing the planet that are affecting the insurance industry. Instead of debates about climate change based on speculation and conjecture, he’d

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Two options for cyber insurers dealing with huge loss ratios

November 27, 2020 by Adam Malik

Insurers will be forced to make tough decisions about how they offer cyber coverage, thanks to claims going through the roof this year and losses piling up across the board, a cycler expert recently told Canadian Underwriter. Insurers will have

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Insurers now treating distracted driving as ‘major’ conviction

November 27, 2020 by Greg Meckbach

In keeping with actions previously taken by Canada’s auto insurers, Northbridge General Insurance Company will start treating driving while using a hand-held communication device as a major conviction for the purpose of setting insurance rates in Nova Scotia. The change

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How COVID-19 workplace risk advice has evolved

November 26, 2020 by Greg Meckbach

As the pandemic enters its ninth month, risk managers are seeing more emphasis on the length of conversations and the importance of wearing proper masks. “The key thing now is the length of contact with somebody else. Right now, if

News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLegalLicensingLoss ControlPersonal AutoSupply Chain

What happened to this therapist who was convicted of insurance fraud

November 17, 2020 by Greg Meckbach

An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to

News AlbertaB.C.ClaimsInsurersLoss ControlLoss TrendsOntarioPersonal Home

Hard market is trickling down to condo unit owners

November 13, 2020 by Greg Meckbach

The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and

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Winter tire use cut an auto insurer’s claims costs by this much

November 12, 2020 by Greg Meckbach

Vehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use