Data is a tricky balancing act: You need it to make sound decisions, but if the numbers become the be-all and end-all, it can lead to some pretty questionable corporate behaviours and leadership decisions. “Data is dangerous without context,” Bryant…
Reinsurance renewals at Jan. 1, 2020 reflected an “asymmetrical” market, featuring a mixed bag of rate increases or decreases (depending on the specific business line or territory), as well as significant rate increases in the retrocession markets, according to Guy…
Catastrophes have hit Canadian P&C adjusters hard, causing many to wonder if the industry has the capacity to handle increasing workloads. Why adjusters see sunnier times ahead
An elderly resident who lost her slip-and-fall claim against a retirement home does not have to pay the legal costs of the home’s insurance company because the insurer’s legal strategy was “at risk of allegations of playing hardball,” the Ontario…
In the last year, Aviva Canada has handled thousands of property and auto claims, including a few quirky and unusual ones. Here are some of the quirkiest: Chaotic kitchen kitties: Two home alone kittens accidentally turned on the kitchen faucet,…
Insurance companies buying into the claims management supply chain are bound to face some headwinds when it comes to conflicts of interest, but ultimately the P&C industry is big enough to absorb more of these types of acquisitions in the…
The launch of Canadian National Insurance Crime Services [CANATICS] was a good move in the fight against auto claims fraud, but Canada is still at a disadvantage to other countries, a former police detective and senior Aviva claims executive said…
As the chief claims officer for Wawanesa Mutual Insurance Company, Erin Fischer hears one question all the time. “The Number 1 question I get is: Do you need to hire claims people who are technical experts?’” Fischer said Wednesday. Although…
Some claims disputes can be prevented entirely with better communication between clients and insurers, suggests an engineer for a firm that investigates property damage. “I couldn’t put a number on it, but I would say a large number of the…
Total Loss Series, Part 1: Cycle Times Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing…
An Uber-style platform to expedite home and auto claims appraisals has made its way into Canada. Offered by WeGoLook, the online and mobile sharing-economy platform provides personalized, onsite data capture for inspections and low-complexity services across the United States. Now…
A recent study suggests brokers have a golden opportunity to talk to homeowners one-on-one about how to protect homes from basement floods. With the right information and often for less than $500, homeowners can protect themselves from the increasing risks…