Canadian Underwriter

Topic Loss Control

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Too little, too late? The devastating consequences of natural disasters must inform building codes

November 10, 2021 by The Canadian Press

By Anastasia Athanasiou, Postdoctoral fellow, Civil and Environmental Engineering, Concordia University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site.

News Business InterruptionLiabilityLoss ControlRisk Managers

Mid-sized business leaders cite ‘customized risk management advice’ as top need for reducing exposure

November 5, 2021 by Canadian Underwriter Staff

Customized risk management advice ranks highest among the top needs of mid-sized businesses to reduce their risk exposure, a new survey found. The findings suggest there’s an opportunity for brokers and risk managers to deepen risk management conversations with clients.

News B.C.ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialLegalLiabilityLoss ControlRisk Managers

Why this city owes duty of care in $1 million personal injury lawsuit

October 21, 2021 by Greg Meckbach

A Supreme Court of Canada ruling released Thursday means a British Columbia municipality is facing a new trial, in a $1-million lawsuit, filed by a woman who was seriously injured after parking her car after a snowstorm. In City of

News BrokersCommercialCommercial AutoInsurersLoss ControlProperty

Tips for your clients to protect against cargo theft

October 20, 2021 by Jason Contant

If your clients are carrying cargo, they should take a comprehensive and layered approach to protecting these goods, a transportation expert from Travelers said recently. This comprehensive approach consists of three layers — good processes, procedures and practices; “hard security”

News ClaimsCommercialEmerging RisksInsurersLegalLoss ControlLoss TrendsSupply Chain

The shifting trends in cargo theft

October 13, 2021 by Jason Contant

The COVID-19 pandemic has affected a number of P&C insurance industry segments from auto to business interruption, and cargo theft is no exception. Large events such as the pandemic will result in shifts to the methods and types of goods

News LegalLoss ControlLoss TrendsNova ScotiaPersonal Auto

How insurers are changing their treatment of distracted driving

October 12, 2021 by Greg Meckbach

Some Nova Scotia motorists who are caught using their wireless handheld device while driving could face steeper hikes to their auto insurance premiums. In a decision released Oct. 4 , the Nova Scotia Utility and Review Board approved the Facility

Feature AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionInsurersLoss ControlLoss TrendsOntarioPersonal HomePropertySupply Chain

Tornado blows change through Ontario bylaws

October 5, 2021 by Jason Contant, Online Editor

Municipalities respond to series of tornadoes with new rules governing building construction.

News ClaimsEmerging RisksInsurersLoss ControlLoss Trends

Is it time for a larger insolvency fund for Canadian P&C insurers?

September 28, 2021 by Jason Contant

Canada’s Property and Casualty Insurance Compensation Corporation (PACICC) is considering whether it needs to increase the size of its compensation fund in the event of a P&C insurer failure. PACICC’s board has asked management to complete a formal review of

News B.C.CatastrophesClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal HomePropertyRisk Managers

Okanagan Lake area wildfire could cost the industry nearly $80 million

September 24, 2021 by Greg Meckbach

An interior British Columbia wildfire this past August, which forced the evacuation of more than 1,000 properties, will cost the industry an estimated $77 million, the Insurance Bureau of Canada said Thursday. The White Rock Lake fire began on Aug.

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsOperations

Why the hard market could be unsustainable

September 21, 2021 by Greg Meckbach

The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020,

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

News ClaimsClaims Canada ArchiveCommercial AutoInsurersLoss ControlLoss TrendsPersonal AutoRisk Managers

When your commercial auto client smells a rat

September 2, 2021 by Greg Meckbach

Tall grass and vegetation are not good choices for areas to park or store construction equipment, trucks, recreational vehicles, campers, trailers or trucks. This is because rodents tend to like tall grass, Northbridge Insurance warns. “If buildings, vehicles, and equipment