Topic Personal Home
How switching appliances can shorten claims cycles
December 15, 2022 by Philip PoradoSupply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys…
Why claims adjusters face a labour force double whammy
December 14, 2022 by Philip PoradoSolving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the…
P.E.I. utility Maritime Electric estimates cost of Hurricane Fiona
December 13, 2022 by The Canadian PressCHARLOTTETOWN – Prince Edward Island’s electric utility says it will cost about $35 million to repair damage to the company’s distribution system caused by post-tropical storm Fiona. A spokesperson for Maritime Electric said that estimate is based on invoices received…
Alberta’s largest-ever earthquake: Will it happen again?
December 8, 2022 by Jason ContantA rare 5.6-magnitude earthquake that’s been reported as the largest ever recorded in Alberta could occur again, suggested Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction. Earthquakes Canada reported the moderate earthquake near the hamlet of Reno…
Which insured perils are of most concern to your clients?
December 5, 2022 by David GambrillWinter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe…
Ontario won’t allow homes to be built on floodplains, Ford says after fed warning
December 5, 2022 by Liam Casey - THE CANADIAN PRESSCLARINGTON, Ont. — Ontario has no plans to allow homes to be built on floodplains, Premier Doug Ford said Friday after the federal environment minister warned Ottawa would not provide disaster compensation where development is greenlit in areas prone to…
What do January reinsurance renewals have in store for property insurers?
December 5, 2022 by Alyssa DiSabatinoWith January’s reinsurance renewal period quickly approaching, the impact of major cat events on property insurers remains to be seen, said a new report from Navacord brokerage Lloyd Sadd. Catastrophic losses are making leading property insurers selective about the amount…
What makes the current claims environment so challenging?
December 2, 2022 by Philip PoradoA convergence of global factors will cause above-average levels of claims inflation for the foreseeable future. Claims professionals who spoke with Canadian Underwriter said multiple market-dependent factors – including prolonged COVID-19 lockdowns in China, political instability, labour and materials shortages,…
Largest recorded Alberta earthquake probably natural, scientist says
December 1, 2022 by Bob Weber - THE CANADIAN PRESSEDMONTON – The largest earthquake ever recorded in Alberta, which rattled homes and nerves Tuesday, was probably due to natural causes, says a geologist. Rebecca Salvage of the University of Calgary says the 5.6-magnitude quake that rumbled near Peace River…
Flood policy education: What brokers are up against
November 30, 2022 by David GambrillHalf of Canadian homeowners have not purchased additional coverage for water damage, relying on a standard homeowner policy that does not cover risk of overland flood or water seepage into the home. Endorsements are available to extend coverage for water…
Does an immuno-compromised adjuster have to return to field work?
November 23, 2022 by The CIP Society, Insurance Institute of CanadaFor almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a…
Why insurers should invest in genetically modified trees
November 22, 2022 by David GambrillInsurance companies should consider investing in genetically-modified, slow-burning trees to mitigate wildfire damage, according to a first-prize pitch at the WinterHack 2022: Design Thinking Ideathon. “We will be taking advantage of state-of-the-art biotechnology and building upon it to create a…