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What vulnerabilities are getting in the way of insurance?

October 18, 2019 by Adam Malik

Insurance leaders are aware they’re not moving fast enough to keep up with change, be it around technological or customer expectations. But, as they said at a recent summit, they have no choice but to figure it out. For Pat…

News BrokersInsuranceTechnology

How online policy administration could put brokers at risk

October 18, 2019 by Greg Meckbach

When clients want to make policy changes online, brokers have a vested interest in being in the loop, suggests a consultant who advises insurance companies. More customers these days are expecting their insurance providers to give them the same kind…

News InsuranceLegalRisk

How much leeway does a condo corporation have when conducting repairs?

October 18, 2019 by Jason Contant

If a condo corporation enters your client’s unit to repair suspected flood damage but finds other hazards, can they complete those additional repairs instead and seek reimbursement from the unit owner? It would appear not, if the factors of the…

News Insurance

Is it time for a U.S.-style flood insurance program?

October 18, 2019 by Jason Contant

Although the National Flood Insurance Program (NFIP) in the United States has its shortcomings, a similar program could benefit Canada if steps were taken to avoid its flaws, suggested an article published in MSA’s Quarterly Outlook Report for Q2 2019.…

News Claims

Thousands of homes and businesses still without power one week after storm

October 18, 2019 by  Steve Lambert - THE CANADIAN PRESS

WINNIPEG – More Manitoba residents saw their electricity restored Thursday – one week after a major snowstorm brought down power poles and transmission towers and delivered another wallop to farmers. Manitoba Hydro said some 6,500 homes and businesses remained without…

News Claims

What’s changed about Millennials in the workplace?

October 17, 2019 by Adam Malik

Millennials aren’t necessarily job hoppers, but they don’t want to feel stuck. So if you want to keep your young, talented staff – and attract new ones – make sure you’re showing them how the insurance industry can offer stability…

News RiskTechnology

How this city made basement flooding risk predictions more precise

October 17, 2019 by Greg Meckbach

Brokers wanting to find out how likely their client’s basement will be flooded might want to ask whether the insurance companies are using data from the municipality in their flood maps. “A lot of residents have indicated concerns with purchasing…

News ClaimsClaims CanadaLegal

Supreme Court of Canada mulls liability for reputational harm from tainted meat

October 17, 2019 by Greg Meckbach

If a restaurant loses business because it served meat from a batch later discovered to be unsafe, is the supplier of that meat liable, in tort, to the restaurant for its economic loss due to a tarnished reputation? That question…

News BrokersCommercial LinesInsuranceMergers and Aqcuisitions

The rationale behind Applied’s acquisition of Policy Works

October 17, 2019 by Jason Contant

Providing brokers with a complete view of their business – both personal and commercial lines – was among the reasons Applied Systems decided to acquire Policy Works, Applied’s vice president of industry and partner relations said Wednesday. Steve Whitelaw spoke…

News Insurance

Maritimes hit by strong fall storm

October 17, 2019 by The Canadian Press

HALIFAX – Maritimers are facing strong gusts and localized downpours today as a slow-moving low pressure system crawls through the region. Ian Hubbard, a meteorologist at Environment Canada, says it’s expected that there will be sustained winds of about 60…

News CatastrophesClaimsClaims Canada

Flood risk in southwestern Ontario: It’s not just rainfall…

October 16, 2019 by Greg Meckbach

Higher-than normal levels on the Great Lakes are increasing water damage risk in Windsor, Ont., which was hit two years ago with flooding that cost the industry more than $100 million. “We are well above where we typically are for…

News AdjustersClaimsInsuranceRestoration

What claims adjusters are seeing from the Manitoba storm

October 16, 2019 by Jason Contant

An “unprecedented” snowstorm that resulted in a provincial state of emergency in Manitoba and left more than 100,000 hydro customers without power does not seem to be a significant event so far from a claims perspective. In the past week,…