Keyword
deductible
Should risk managers assume more risk?
July 29, 2019 by Jason ContantRisk managers should stop “trading dollars” with an insurer and consider increasing their deductibles and assuming some of the risk, suggested Stéphane Cossette, senior director of risk management with Quebecor Media Inc. “Get rid of the noise, get rid of…
One key ingredient missing from this province’s auto reform proposals
April 24, 2019 by David GambrillNewfoundland & Labrador has introduced a slew of changes intended to help stabilize insurance rates – and a cap on minor injuries, implemented in many other Canadian provinces, isn’t one of them. Instead, the provincial government is proposing to raise…
What’s the difference between a “self-insured retention” and a deductible?
May 14, 2018 by David GambrillA “self-insured retention” [SIR] is effectively the same thing as a deductible in a contract triggered by an insurer’s duty to defend, an Ontario court has ruled in a case involving an agreement between an elevator contractor and the building…
Government of Newfoundland and Labrador finalizes terms of reference for auto insurance review
August 16, 2017 by Canadian UnderwriterThe provincial government announced on Tuesday that it has finalized the terms of reference for the automobile insurance review for Service NL and the provincial Board of Commissioners of Public Utilities (PUB). Government has directed PUB to begin its review…
Canadians evacuated from homes after a wildfire can expect to suffer $11,300 in financial losses: Square One Insurance
July 6, 2017 by Canadian UnderwriterCanadians evacuated from their homes because of wildfires can expect to suffer an average of $11,300 in financial losses, a recent study from Square One Insurance Services Inc. has found. Those with home insurance can recover most, but not all,…
Slice launches “first on-demand insurance platform” for homeshare hosts in 13 states
June 1, 2017 by Canadian UnderwriterSlice Labs Inc., a technology company offering what it calls “the first on-demand insurance platform in the United States,” announced on Wednesday the launch of their homeshare insurance product in 13 states. Homeshare hosts in 13 states – California, Colorado,…
Commonwell Mutual Insurance Group offers new flood policy endorsement for Ontario homeowners
February 13, 2017 by Canadian UnderwriterCommonwell Mutual Insurance Group has a new policy endorsement that uses geo-coding to provide Ontario homeowners in low- and medium-risk zones with protection against property damage from flooding, surface water and sewer back-up caused by flood events. Starting Feb. 13,…
Supreme Court of Canada hears appeal over Nova Scotia auto family protection endorsement
October 7, 2016 by Canadian UnderwriterThe Supreme Court of Canada heard Wednesday an appeal from a Nova Scotia auto accident victim whose future Canada Pension Plan disability payments were ordered deducted from the amount payable under his family protection endorsement. Andrew Sebean suffered injuries to…