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A broker’s walkthrough of cyber insurance with a client

February 25, 2018 by Jason Contant

The majority of clients that Marsh Canada meets with – anecdotally 70-80% – still don’t understand what a cyber insurance policy does, Jeremiah Tonn, vice president of the brokerage’s cyber practice, said on Friday. Speaking at NetDiligence’s Cyber Risk Summit…

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Should insurers even be writing D&O coverage for sexual misconduct claims?

February 25, 2018 by David Gambrill

Why are insurers writing D&O coverage for allegations involving sexual misconduct, which is not really an “accident,” but rather an intentional act that is typically excluded from coverage? The question came up last Thursday at a PLUS Canada event in…

News InsuranceMarkets / CoveragesTechnology

Numbers don’t show that safety technology leads to lower repair costs

February 25, 2018 by Jason Contant

It’s a common thing to hear in Canada’s P&C insurance industry: Although auto repair costs will increase in the short term because of advanced safety technologies installed in today’s vehicles, over the long haul, the frequency of incidents should decrease…

News InsuranceTechnology

RSA Canada joins chorus of insurers seeking auto rate increases

February 23, 2018 by Greg Meckbach, Associate Editor

Distracted driving and the cost of repairing vehicles equipped with the latest technology are among the reasons RSA Canada is looking to increase auto insurance rates across Canada. “We have seen a trend of increasing frequency [of collisions] which we…

News InsuranceLegal

Hot coffee scalds your client in a drive-through. Is that an auto “accident”?

February 23, 2018 by Greg Meckbach

Ontario auto insurance policies will have to cover a much wider scope of risk if the Supreme Court of Canada does not overturn a recent court ruling against Aviva Canada, Aviva’s lawyer argues. In Dittmann v. Aviva Insurance Company of Canada,…

News Markets / CoveragesTechnology

Expectations high that federal budget will make big investments in cybersecurity

February 23, 2018 by Andy Blatchford and Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Government and industry insiders have high expectations next week’s federal budget will contain big investments to help Canada reinforce its cybersecurity defences in an age of heightened global threats to businesses, privacy and democracy. A senior government official…

News Markets / CoveragesTechnology

Cyberattacks will increasingly lead to business interruption, cyber insurer warns

February 22, 2018 by Jason Contant

Cyber insurer Beazley is expecting an increase in cyberattacks that lead to business interruption, especially due to the growth of cloud platforms and connected devices in the workplace. On Wednesday, Beazley released its 2018 Breach Briefing outlining the types of…

News InsuranceMarkets / CoveragesTechnology

Electronic proof of insurance now available, even if regulations aren’t

February 22, 2018 by David Gambrill

The Centre for Study of Insurance Operations (CSIO) has launched its My Proof of Insurance eDelivery solution, enabling CSIO members to send consumers digital policy documents (including proof of auto insurance, or ‘eSlips’) for personal and commercial lines. The announcement…

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Court closes door on homeowner plan to build a basement walkout below a flood line

February 22, 2018 by Greg Meckbach, Associate Editor

A Grande Prairie, Alta.-area property owner who installed a basement door below the one-in-100-year flood line should replace it with a window above the flood line, the Alberta Court of Appeal has ruled, upholding efforts by the municipality to stop…

News InsuranceMarkets / Coverages

Proposed “concussion code of conduct” could help sports insurers

February 22, 2018 by Canadian Underwriter

Legislation that would require a “concussion code of conduct” for amateur sports organizations in Ontario will be the subject to public hearings next week. If passed into law, Bill 193 will “be a catalyst for longer-term culture change for concussion…

News Markets / CoveragesTechnology

Aviva Canada looking into electronic payments standard

February 22, 2018 by Jason Contant

As payment systems continue to modernize globally and locally, one Canadian insurer says it is hoping to explore opportunities related to its payment infrastructure. While it is not currently using ISO 20022, an international standard that supports electronic payments, Aviva…

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Airbnb rentals being used for alleged human trafficking: Toronto police

February 22, 2018 by Michelle McQuigge - THE CANADIAN PRESS

Toronto police say a recent case of alleged human trafficking is the latest in a growing trend involving people using Airbnb rentals to conduct their illicit transactions. Det. Sgt. Nunzio Tramontozzi said police have seen a surge in such cases…