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News AdjustersB.C.ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLegalPersonal HomeProperty

Don’t investigate fraud suspicions indefinitely, court tells insurer

May 6, 2022 by David Gambrill

If an insurer suspects fraud in a house fire contents claim, it might be better to deny the claim within 60 days, alleging fraud, rather than to prolong the claims investigation indefinitely while asking for documentation from the insured that

A woman stands in the backyard of her flooded home in Calgary in 2013
News AlbertaCatastrophesConstructionEnvironmentalPersonal Home

Construction to begin on flood mitigation project west of Calgary

May 5, 2022 by The Canadian Press

CALGARY – Nine years after a catastrophic flood caused billions of dollars in damage to parts of Calgary and surrounding communities, work is to begin on a dam to protect the area from rising water in the future. Premier Jason

Damage after a tornado in Barrie, Ont. in July 2021
News CatastrophesClaimsConstructionEnvironmentalOntarioPersonal AutoPersonal HomeProperty

Why Barrie’s 2021 tornado damage was “largely preventable”

May 4, 2022 by Jason Contant

More than 35 years after a deadly tornado in Barrie, Ont. – the site of another strong tornado last year – the industry is still looking for modernizations to the Ontario Building Code and tornado protection construction practices. “Since before

Scales of justice with clock in the background
News AlbertaClaimsInsurersLegalPersonal Home

Be clearer with limitation periods, appeal court tells insurers

May 2, 2022 by Jason Contant

Insurers should consider telling policyholders the specific dates when applicable limitation periods expire, and suggest that policyholders seek and retain counsel, legal experts recommend after an Appeal Court decision in Alberta. In Statt v SGI Insurance Services Ltd, a letter

Road closed sign after flooding in Manitoba
News ClaimsEnvironmentalManitobaPersonal Home

Swollen rivers, flooded roads prompt evacuations in some areas of Manitoba

May 2, 2022 by Brittany Hobson and Steve Lambert - THE CANADIAN PRESS

WINNIPEG – Flooding has forced evacuations in some parts of Manitoba after heavy rains caused rivers to swell. The Peguis First Nation, about 150 kilometres north of Winnipeg, was placed under a mandatory evacuation order after ice jams on the

News B.C.BrokersCatastrophesEnvironmentalPersonal Home

Does your client think overland flood coverage is standard?

April 28, 2022 by Jason Contant

Brokers have another golden opportunity to educate clients on the importance of overland flood coverage. A recent survey of Canadian homeowners conducted by rate aggregator LowestRates.ca found that 30% of 544 respondents were unaware that coverages like overland flood are

Luxury new house in suburbs.
News ClaimsConstructionPersonal HomeProperty

How guaranteed replacement fits within a world of rising home costs

April 26, 2022 by Philip Porado

While federal budget proposals aimed at dampening home-price escalation may modestly help insurers control reconstruction costs for insureds, there’s another side to the conversation. What if it doesn’t work? Beyond price appreciation, lots of factors — like updates to building

Open coffee jar with ground coffee
News CommercialCommercial AutoEmerging RisksInsurersLoss TrendsMGAsOperationsPersonal AutoPersonal Home

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming

Exterior of luxury house
News AdjustersBrokersClaimsClaims ProfessionalsClaims TechnologyConstructionPersonal HomePropertySupply Chain

Proposal to end real estate bidding wars could affect P&C insurers

April 19, 2022 by Philip Porado

Cracking down on factors contributing to home-price escalation is a major component of the Apr. 7 federal budget document. If successful, they could affect insurers’ ability to control reconstruction costs and other claims impacts for their insureds. Proposed budget actions

Sales tax papers on the office table
News InsurersNewfoundland & LabradorOperationsPersonal HomeTechnology

What IBC likes and dislikes about removing sales tax on home insurance

April 14, 2022 by Jason Contant

Insurance Bureau of Canada (IBC) supports one provincial government’s plan to temporarily remove retail sales tax (RST) from home insurance, but is concerned about the administrative costs associated with the move. In its 2022 budget released Apr. 7, the Government

Assortment of Used Cables in Different Types and purposes on second hand market, peripheral equipment"nVideo Audio Cable USB and Bundled Top view From Above. Tech
News ClaimsClaims ProfessionalsInsurersLegalLiabilityPersonal HomePropertyQuebec

‘Professional activities’ exclusions: Why insurers must almost always defend

April 13, 2022 by David Gambrill

Quebec’s Superior Court notes an insurer will almost always have a duty to defend an insured in disputes over policy exclusions for “professional activities.” “A review of the case law dealing with exclusion for ‘professional activities’ reveals that, in almost

Papers headed with Tax Liability and glasses on a table
News Commercial AutoConstructionCyberLegalLoss ControlOperationsPersonal AutoPersonal HomeProperty

Does federal budget create new tax liability for P&C industry?

April 12, 2022 by Greg Meckbach

A federal budget proposal to forbid insurers from using a contractual service margin as a deductible reserve for tax purposes could impose a one-time tax liability on the industry. International Financial Reporting Standard 17 (IFRS 17) will “substantially change the