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Ottawa’s latest response to calls for government flood insurance

January 27, 2020 by Greg Meckbach

It’s been three years since brokers called for a government backstop for residential flood losses, but Ottawa is not specifically committing to any particular model of government-run insurance for homes at high risk of flood. At the moment it is…

News Insurance

Why eastern Canadian quakes may be stronger than you think

January 27, 2020 by Jason Contant

Major improvements in Canada’s proposed 2020 seismic hazard model means that there is an increased earthquake hazard all across Canada, including up 50% in some places. “The big change we’ve made in the 2020 model for eastern Canada has really…

News BrokersInsuranceLegal

Three-year ban for broker convicted of misappropriating more than $16,000

January 27, 2020 by David Gambrill

The former branch office manager of a B.C. brokerage has been banned from being a broker for a minimum of three years after she was convicted for misappropriating more than $16,000 of Insurance Corporation of B.C. (ICBC) funds for personal…

News AdjustersClaims

The challenges of handling older #MeToo claims

January 27, 2020 by Adam Malik

Allegations of sexual abuse have spiked in recent years, creating a new wave of complex insurance claims. Adding to that complexity is dealing with the wave of reports about incidents that took place decades ago. These older claims are proving…

News InsuranceRisk

Saskatchewan posts lowest number of road fatalities since records started

January 27, 2020 by The Canadian Press

REGINA – Saskatchewan’s Crown insurer says fewer people were killed on the province’s roads in 2019 than in any year since records started being kept in the 1950s. Saskatchewan Government Insurance says preliminary statistics indicate 71 people were killed in…

News InsuranceMarkets / Coverages

Are your commercial clients budgeting for a hard market?

January 24, 2020 by Greg Meckbach

As commercial insurance prices increase, you could have customers who literally have not factored new rates into their budgets. “We have an understanding, clearly, that there are risk managers and [chief financial officers] of companies that maybe didn’t budget for…

News AdjustersClaimsInsurance

How tech has changed what it means to be an independent adjuster

January 24, 2020 by Adam Malik

Years ago, an adjuster would be sent out to look at a claim after a client put their pot fresh off the stove directly on their linoleum countertop, leaving a round burn mark. Compare that to today, when a $50,000…

News AdjustersClaimsClaims CanadaInsuranceLegal

Why these homeowners lost their negligence lawsuit against a Hub brokerage

January 24, 2020 by Greg Meckbach

British Columbia’s top court recently sided with a Hub International brokerage in a case in which a client sued the brokerage and the insurer for coverage that was denied because a building damaged by fire contained a legal medical marijuana…

News BrokersInsuranceMergers and Aqcuisitions

Why brokerage M&A in Canada will slow down in 2020

January 24, 2020 by Jason Contant

Looking at the number of brokerage acquisitions already in January, you wouldn’t think merger and acquisition (M&A) activity is slowing down. But earlier this month, Willis Towers Watson reported that the global M&A market, with performance in steady decline since…

News InsuranceLegislation / RegulationTechnology

Ridesharing insurance takes centre stage as Uber, Lyft approved in B.C.’s Lower Mainland

January 24, 2020 by Jason Contant

VICTORIA – Vancouver is poised to join most major cities in Canada in offering ride-hailing services with the long-awaited approval Thursday of licences for companies Uber and Lyft to operate in British Columbia’s Lower Mainland and Whistler. The independent Passenger…

News Insurance

Data collection itself won’t turn you into Spotify – how using the data might

January 23, 2020 by David Gambrill

There will come a time when data-enabled learning, as featured in artificial intelligence, will become a “table stakes” component of P&C insurance products — but collecting mass amounts of consumer data won’t always give your company a competitive advantage. Who…

News BrokersClaimsClaims CanadaClimate ChangeProfessional DevelopmentRestoration

What’s new in 2020 with Intact Centre home flood risk assessment training

January 23, 2020 by Greg Meckbach

Want to share basement flood horror stories with other brokers or home inspectors, and hear how industry peers tackled their problems? The Home Flood Risk Assessment Training Course, launched in 2018, now has discussion sessions, said Daniel Filippi, program manager…