Topic Personal Home
The claims impact of the B.C. wildfires
August 5, 2021 by Jason ContantWildfires raging across British Columbia have resulted in a lot of additional living expenses (ALE) claims, a property restoration firm told Canadian Underwriter Wednesday. “There’s just a lot of increases on the ALE [claims],” Shane Swinson, senior vice president, insurance…
Sixth First Nation in northwestern Ontario evacuating due to forest fires
August 5, 2021 by The Canadian PressTORONTO – Members of a sixth First Nation in northwestern Ontario are being evacuated due to the threat posed by wildfires. The Ontario government says about 200 members of the Wabaseemoong First Nation are expected to be evacuated from the…
Separate hailstorms bring 2,500 claims to date
August 4, 2021 by Jason ContantTwo hailstorms in late July have resulted in about 2,500 property and auto claims to date, a spokesman for Saskatchewan Government Insurance (SGI) told Canadian Underwriter Tuesday. The storms ripped through Saskatchewan on July 22-23 and July 27-28. The larger…
Personal auto renewal rates continue downward trend, but homeowners’ rates up: Applied
July 30, 2021 by Jason ContantAverage personal auto premium renewal rates in Canada continued their downward trend in the second quarter of 2021, while personal property (homeowners) renewal rates remained up over the same period, according to Applied Systems’ latest premium rate index. In Q2…
Why avid cottagers should consider standalone coverage
July 29, 2021 by Canadian UnderwriterAvid cottage enthusiasts may benefit from some of the “bells and whistles” offered in a standalone policy, as opposed to simply attaching their recreational homes to existing homeowner policies, according to a lifestyle insurance expert at Aviva Canada. Benefits of…
Home insurance rates dropping but no reprieve for condo owners
July 28, 2021 by Jason ContantPersonal property premiums were a mixed bag in the first quarter of 2021, with insurance for condo owners continuing to rise, but home insurance rates trending down, according to a new report from LowestRates.ca released Tuesday. Year-over-year, home insurance premiums…
The impact of Gore Mutual’s new operating model
July 26, 2021 by Greg MeckbachGore Mutual has gone live with technology that lets the carrier bind policies for brokers, in minutes in some cases. The Cambridge, Ont.-based property and casualty insurer “has completely changed the operating model for personal lines,” CEO Andy Taylor said…
Ontario seeing more and larger wildfires this year, officials say
July 26, 2021 by Allison Jones - THE CANADIAN PRESSThe number and size of wildfires in northern Ontario this year are substantially higher than average, and have forced thousands of people to flee First Nations communities, the government said Monday. This year there have been 902 wildfires so far,…
Why your clients should do an inspection before buying a home
July 21, 2021 by Greg MeckbachA couple who discovered a leaking bathtub after moving into their new home cannot get compensation from the sellers. A “reasonable inspection” would have revealed a water problem before Tyler and Keva Luscombe bought their home in 2020, the British…
Get ready for hundreds of claims from Barrie twister
July 21, 2021 by Greg MeckbachThe industry will probably see well over 200 claims from the July 15 tornado that hit Barrie, Ont., says a wind damage expert who has looked at the affected area. “I expect the total number of damaged houses was about…
Hundreds more ordered out of their homes in B.C. by threatening wildfires
July 21, 2021 by The Canadian PressHundreds more British Columbians have joined the thousands already forced from their homes by wildfires as several local governments ordered residents to get out Tuesday night ahead of nearby blazes. The Regional District of Kootenay Boundary declared a local state…
The legal pitfalls of online and over-the-phone insurance applications
July 20, 2021 by Greg MeckbachA property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone…