Canadian Underwriter

Topic Loss Control

Business associates arguing.
News ClaimsClaims ProfessionalsCommercialConstructionLegalLiabilityLoss Control

Why resolving claims disputes is about more than numbers

April 11, 2023 by Derek Sayers

Want to increase the likelihood of a construction project insurance claim being accepted? Take the time to validate each aspect of that claim. The upfront work will make it easier for any umpires, mediators, consultants or lawyers brought in to

Economists are expecting a mild recession in Canada.
News CommercialLoss ControlTrending

Surveys show economy softening, future inflation expectations falling

April 3, 2023 by The Canadian Press

OTTAWA – New reports from the Bank of Canada suggest business and consumer expectations on inflation are moderating, but a potential recession continues to weigh on economic outlooks. The surveys released today show inflation expectations are easing, but consumers and

Canadian economy heading into a mild recession, Deloitte says
News Emerging RisksInsurersLoss ControlTrending

Canada heading into ‘mild recession,’ Deloitte report suggests

March 28, 2023 by The Canadian Press

OTTAWA – New research says Canada is heading into a mild recession as elevated borrowing costs, a downturn in the U.S. and persistent inflation dial up the country’s economic uncertainty. Deloitte Canada’s latest economic outlook, released ahead of the federal

Driving on a foggy highway
News ClaimsClaims Canada ArchiveClaims ProfessionalsClaims TechnologyInsurersLoss ControlPersonal AutoSaskatchewan

Insurer reveals Top 5 auto fraud claims of 2022

March 21, 2023 by Jason Contant

Some claims show obvious elements of fraud but others go above and beyond. Such was the case with Saskatchewan Government Insurance’s (SGI) Top 5 “eyebrow-raising” attempted auto insurance frauds from 2022. SGI released last week their Top 5 list of

Computer screen overtaken by a cybercriminal
News BrokersClaimsCyberEmerging RisksInsurersLoss ControlLoss TrendsTechnology

How to make a profit on cyber coverage

March 16, 2023 by Jason Contant

How does the industry make cyber insurance a viable and profitable line of business going forward? “I would say cyber is a viable and profitable business line,” said Neal Jardine, global cyber risk intelligence and claims director with Boxx Insurance. “I

Computer wrapped with crime scene tape to represent a hacker attack
News BrokersClaimsCommercialCyberInsurersLoss ControlLoss Trends

Is cyber coverage broken? And, can it be fixed?

March 10, 2023 by Jason Contant

Not long ago, the Canadian P&C industry’s cyber loss ratio was more than 400%, meaning cyber insurers were paying out an average of more than $4 for every $1 they received in premiums. Those first-quarter numbers from two years ago

The Bank of Canada is expected to hold its interest rate next week.
News InsurersLoss ControlTrending

Bank of Canada expected to hold interest rate one year after aggressive cycle began

March 3, 2023 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – One year after the Bank of Canada’s aggressive rate hike cycle began, economists widely expect the central bank will stick to its plan of holding its key interest rate steady at its next scheduled announcement. In making its

Fraud prevention concept
News ClaimsCommercialEmerging RisksLoss ControlTechnology

How your commercial clients are faring with fraud prevention

March 2, 2023 by Jason Contant

Three-quarters of small and medium-sized enterprises (SME) in Canada experienced fraud within the past year, even though nearly nine in 10 reported having a fraud prevention and response program in place, according to a new survey from KPMG in Canada.

Motorist driving on closes Trans-Canada highway in Abbotsford, BC
News B.C.CatastrophesEnvironmentalInsurersLoss ControlPersonal Home

Window for action on national flood insurance program is now, IBC says

February 24, 2023 by Jason Contant

Insurance Bureau of Canada (IBC) is applauding the federal government’s latest disaster assistance for flood recovery costs associated with British Columbia’s costliest severe weather event, but is stressing the urgent need for action on a national flood insurance program. The

Robot sorting documents to represent AI helping insurance adjusters manage claims
News AdjustersBrokersClaimsClaims ProfessionalsClaims TechnologyCommercialHRLiabilityLoss ControlLoss TrendsPersonal AutoPersonal HomePropertyRisk ManagersTechnology

How automation’s shifting on-site claims work to bigger losses

February 23, 2023 by Philip Porado

COVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that

Pump jack in Saskatchewan
News AlbertaClaimsCommercialEmerging RisksEnvironmentalLoss ControlLoss TrendsSaskatchewan

Alberta, Saskatchewan methane emissions almost 4 times more than reported: research  

February 21, 2023 by Jason Contant

New research using advanced technology suggests heavy oil facilities in Alberta and Saskatchewan are releasing almost four times the amount of a powerful greenhouse gas than they report to government.   The research, published in the journal Environmental Science and Technology,

Driver sleeping in self-driving car
News ClaimsCommercial AutoCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsPersonal AutoTechnology

When will self-driving tech consistently prevent crashes?

February 17, 2023 by Harrison Griffiths and Hannah Van Staveren

One aim of autonomous driving technology is to take the human element out of the driving ecosystem with an eye toward preventing collisions. But right now, autonomous driving technology can’t guarantee it will detect and react to road hazards earlier