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Canada’s P&C industry can’t shoulder the losses of the next earthquake by itself

April 7, 2021 by Adam Malik

Canada isn’t financially prepared to handle a major earthquake whenever it may come, says an industry observer. As a result, the property and casualty industry is at risk without a plan in place. Models are painting a grim picture of

News ClaimsEarnings / RatingsInsurance

2020 results: Did Canada’s insurers “outrun the bear” of claims inflation?

March 23, 2021 by David Gambrill

Canada’s P&C insurance industry survived the pandemic year of 2020 in good financial health, although some insurers wound up with healthier balance sheets than others, according to financial data published in the forthcoming MSA Research Q4-2020 Outlook Report. “The Canadian

News Insurance

CAA says driving has dropped. By how much?

March 22, 2021 by Adam Malik

CAA Insurance has seen driving halved since the start of the COVID-19 pandemic, according to its president. Through its pay-as-you-go program, MyPace, and what customers have told the insurer about the number of kilometres they are now travelling, CAA president

News Insurance

Support in Canadian P&C industry for U.K. approach to insuring automated cars

January 29, 2021 by David Gambrill

Insurance programs for connected and autonomous vehicles (CAV) in the United Kingdom may be applicable to Canada as well, according to a recent survey from Canada’s association of provincial insurance regulators. In the U.K., the Automated and Electrical Vehicles Act

News Insurance

A sign that insurers are actually investing in technology

December 11, 2020 by Adam Malik

Insurers have talked about the need to be more digital for years now but there is one clear sign that they’re actually following through on their plan, according to a KPMG insurance expert: A significant number of them are investing

News ClaimsCommercial LinesInsuranceLegalLegislation / RegulationMarkets / Coverages

How a South African court applied the U.K. test case in a B.I. dispute

December 8, 2020 by David Gambrill

South Africa’s Western Cape High Court has ordered an insurer to pay a retailer of luxury travel goods up to a maximum of six months’ worth of business interruption coverage (about Cdn$1.5 million), following a dispute over losses arising from

News Insurance

One essential thing required for condo premium relief

November 10, 2020 by Adam Malik

Clients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in

News Insurance

Sedgwick exec’s Top 4 reasons why condo claim severity is through the roof

October 30, 2020 by David Gambrill

As Canadians carry on their love affair with condos, the number of units being built — and the rapid pace of their construction — have indirectly contributed to the severity of condo insurers’ claims costs, says a senior P&C insurance

News AdjustersBrokersClaimsCommercial LinesInsuranceLegislation / RegulationRisk

This decision on a $5,000 deductible could motivate condo corporations to change their bylaws

October 28, 2020 by David Gambrill

A recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,

News ClaimsInsuranceLegal

No, you can’t ram a car in a fit of road rage and collect insurance for the damage

September 18, 2020 by David Gambrill

A B.C. driver recently learned the hard way that you can’t ram your car into another car during a parking lot road rage incident and then make an insurance claim for the repair. Majid Abood was waiting in his car

News CatastrophesClaimsClimate ChangeInsurance

Rapid-intensity Hurricane Laura ultimately headed for Newfoundland

August 26, 2020 by David Gambrill

The path of Hurricane Laura — which is currently located off the U.S. Gulf Coast and described as one of the fastest-intensifying storms in history — is tracking to hit St. John’s, Nfld., next Monday as a post-tropical storm, according

News Insurance

CU webinar: Claims experts discuss how to adjust increasing number of NatCats

August 25, 2020 by David Gambrill

In an era when $1-billion claims events have become commonplace, Canadian claims executives are turning their minds to how to adjust natural disasters that follow closely upon the heels of one another. Canadian Underwriter will be bringing the discussion to