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News CatastrophesClaimsClimate ChangeInsurance

Insurers bring Cat claims in-house: How independent adjusters adapt

February 7, 2024 Jason Contant

Some major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future

Drug and medicine bills concept. Medical debt, health care and treatment cost from Covid-19 disease, hospital expense, broke bankrupt man carrying giant medicine debt burden after cure from COVID-19.
News CatastrophesClaimsInsuranceLegislation / Regulation

Does Canada need a pandemic backstop, too?

January 19, 2024 by David Gambrill

Canada’s P&C insurance industry “dodged a bullet” when the courts didn’t automatically read pandemic coverage into business interruption losses, an insurance executive said at the Insurance Institute of Canada’s Industry Trends & Predictions 2024 webinar yesterday. Phil Cook, chairman of

Smoke from wildfires fills the sky in Yellowknife
News Insurance

Price tag for the insured wildfire losses in Northwest Territories

November 20, 2023 by David Gambrill

Insured wildfire damage in Hay River and Yellowknife, NWT, during the summer — which led to Canada’s largest evacuation ever — cost the P&C insurance industry a total of more than $60 million, Catastrophe Indices and Quantification (CatIQ) Inc. reported

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News ClaimsInsuranceReinsuranceRisk

What P&C execs predict for 2024 reinsurance rates

October 24, 2023 by David Gambrill

Canada’s primary property and casualty insurers expect the upcoming Jan. 1, 2024, reinsurance renewal season to be more ‘orderly’ and ‘stable’ than at the same time last year, P&C industry execs told brokers attending last week’s Insurance Brokers Association of

Hurricane Fiona Cloud Map Nova Scotia 3D Render Color
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceReinsuranceRisk

Hurricane Lee: Why the Canadian P&C industry is watching

September 7, 2023 by David Gambrill

Hurricane Lee is strengthening into a powerhouse Category 5 storm, and some preliminary scenarios suggest it could hit Atlantic Canada as a tropical storm sometime next week, AccuWeather is forecasting. “Lee poses a risk to people from the northern Caribbean

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News CatastrophesClaimsClimate ChangeInsuranceMarkets / CoveragesReinsurance

Reinsurance in Canada unlikely to cost less in 2024

August 24, 2023 by David Gambrill

If Canadian P&C insurers thought the Cat reinsurance market was tough this year, just wait until next year. “Global reinsurers are cutting back on the cover they provide against medium-sized natural catastrophe risks due to investor pressure after several years

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News AdjustersCatastrophesClaimsInsuranceRestoration

Communication around claims must be top priority: CEOs

October 24, 2022 by David Gambrill

Supply chain pressures and labour shortages mean Canada’s P&C industry and its suppliers need to focus on communications around claims service to maintain consumer trust and high service levels, insurance executives told a broker conference last week. Matthew Turack, group

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News CatastrophesClaimsInsurance

Where the derecho falls among Canadian Cat events

May 30, 2022 by David Gambrill

Canada’s rare and deadly derecho last week seems likely to rank among the country’s Top 10 costliest insured catastrophes, Aon plc predicts. “In Canada, a rare derecho impacted densely populated metropolitan areas in Ontario and Quebec on May 21 that

Giant waves break near the lighthouse at Peggy's Cove, Nova Scotia.
News CatastrophesClaimsClimate ChangeInsuranceMarkets / Coverages

What Canadians can expect of future hurricane seasons

April 7, 2022 by David Gambrill

Atlantic Canadians can expect to see more and increasingly intense hurricanes, as sea surface temperatures continue to warm up as a result of climate change. “Warmer sea surface temperatures fuel stronger hurricanes,” Swiss Re Canada CEO Monica Ningen observed during

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News CatastrophesCommercial LinesInsuranceMarkets / Coverages

Exiting the commercial hard market may be prolonged: Insurers

April 5, 2022 by David Gambrill

Canada’s P&C insurers are exposed to historically-high inflation rates, which may prolong the hard market in commercial lines, Canada’s association of home, auto and business warns. “On the commercial side, I think this inflation is either going to prolong the

News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeInsurance

Lytton fire raises questions about possible subrogation

July 5, 2021 by David Gambrill

As the British Columbia Wildfire Service works with the RCMP to investigate the cause of a fire last week that burned down 90% of the village of Lytton, preliminary reports that the fire originated in the town — and not

News AnnouncementsCatastrophesInsurance

ICLR’s Paul Kovacs honoured with lifetime achievement award

February 8, 2021 by David Gambrill

Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction (ICLR), has received the Joseph Scanlon Lifetime Achievement Award from the Canadian Risk and Hazards Network (CRHNet). CRHNet is a not-for-profit organization established in 2003 to share hazards research