Canadian Underwriter

Topic Loss Control

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What four home insurers told the auditor general about illegal electrical work

December 8, 2020 by Greg Meckbach

Some Ontario homeowners could collect insurance money on property claims even if the damage was caused by illegal electrical work, the auditor general suggests in her report released Monday. Staff with the province’s Office of the Auditor General contacted four

News Emerging RisksInsurersLoss ControlLoss TrendsPersonal AutoTechnology

IBC reveals the latest trends in auto theft

December 8, 2020 by Jason Contant

Electronic auto theft, high-end vehicles stolen for shipment overseas, and street racing are three emerging trends coming out of Insurance Bureau of Canada’s (IBC) list of Top 10 stolen vehicles in 2020. Electronic auto theft is on the rise across

News ClaimsClaims Canada ArchiveCommercial AutoInsurersLoss ControlLoss TrendsNova ScotiaPersonal Auto

This customized vehicle replacement coverage is headed for the junk yard

December 8, 2020 by Greg Meckbach

This is no April Fool’s joke. TD Insurance Group plans to stop offering its non-standard five-year vehicle replacement coverage in Nova Scotia as of Apr. 1, 2021. In 2019, the Nova Scotia Utility Review Board approved TD’s application to offer

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How Ottawa is trying to lower earthquake related property losses

December 7, 2020 by Greg Meckbach

Natural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,

News AlbertaCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsPersonal HomePropertyRisk Managers

Wildfire damage is not like a Godzilla attack. Why that matters to Cat modellers

December 7, 2020 by Greg Meckbach

A client’s structure can remain standing after a wildfire, even when other buildings in the same neighbourhood burn down, because dozens of factors affect a property’s risk, experts said Thursday during a webinar. “The interesting thing about wildfire is [that]

News CommercialInsurersLoss ControlLoss TrendsRisk ManagersTechnology

Underwriting long term care: Transforming liability into opportunity

December 4, 2020 by David Gambrill

With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in

News Emerging RisksInsurersLoss ControlProperty

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

Feature AdjustersClaimsClaims Canada ArchiveLoss Control

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

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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

News ClaimsCommercialEducationEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsOperationsPropertyTrending

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