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Auto insurance caught in a political cross-fire

April 20, 2022 by Alyssa DiSabatino

Alberta’s insurance industry saw a claims ratio of 77% for auto in 2020. While this is an improvement from 2016’s claims ratio of 87%, it still poses challenges for the industry, one industry rep notes.   Despite signs the province’s…

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Employee benefits in the new era of work

April 19, 2022 by Alyssa DiSabatino

About one-quarter of brokers say they are either likely or highly likely to leave the industry in the next three years, according to Canadian Underwriter’s National Broker Survey. One way to encourage brokers to stay would be to expand employee…

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Cabbie assaulted while chasing fare outside taxi is not involved in an “auto accident”

April 19, 2022 by David Gambrill

A taxi driver who was severely beaten by a passenger, after the driver walked 40-to-50 steps away from his running taxi to collect a fare, was not involved in an insurable “auto accident,” the Ontario Superior Court has confirmed. The…

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Proposal to end real estate bidding wars could affect P&C insurers

April 19, 2022 by Philip Porado

Cracking down on factors contributing to home-price escalation is a major component of the Apr. 7 federal budget document. If successful, they could affect insurers’ ability to control reconstruction costs and other claims impacts for their insureds. Proposed budget actions…

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Cyberbreach at Rideau Hall was ‘sophisticated’ intrusion, internal documents reveal

April 19, 2022 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – Newly disclosed documents reveal the breach of an internal computer network at Rideau Hall was described to senior government officials as a “sophisticated cyber incident” in the days before the public was told of the security lapse. Internal…

Sales tax papers on the office table News Insurance

What IBC likes and dislikes about removing sales tax on home insurance

April 14, 2022 by Jason Contant

Insurance Bureau of Canada (IBC) supports one provincial government’s plan to temporarily remove retail sales tax (RST) from home insurance, but is concerned about the administrative costs associated with the move. In its 2022 budget released Apr. 7, the Government…

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Not addressing diversity issues creates risk for brokers, survey finds

April 14, 2022 by Phil Porado

Nearly all Canadian brokers agree addressing diversity, equity and inclusion (DEI) issues is linked to business success, according to a late 2021 Canadian Underwriter online survey of 208 brokers across Canada, made possible with the support of Sovereign Insurance. It…

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What higher interest rates mean for the P&C industry

April 14, 2022 by David Gambrill

When the Bank of Canada hiked interest rates a full half point on Wednesday, at first blush, it seemed Canada’s P&C industry might benefit from the inflation-curbing measure by garnering greater returns on their investments. But it’s not that straightforward,…

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Blizzard closes schools, shuts roads in parts of Manitoba and Saskatchewan

April 14, 2022 by Steve Lambert - THE CANADIAN PRESS

WINNIPEG – Heavy snow and strong winds were combining in a spring blizzard expected to last three days across southern Manitoba and a section of southeastern Saskatchewan. Schools were closed in many areas, roads were shut down and most flights…

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A car crashes in Ontario: Why Canadian auto insurers pay attention

April 13, 2022 by Daniel Strigberger

People love to visit Ontario. Unfortunately, some of them get into car accidents. Why should a visitor’s auto insurer care about accidents in Ontario? Because when a non-resident is involved in an auto accident in the province, their insurers will…

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‘Professional activities’ exclusions: Why insurers must almost always defend

April 13, 2022 by David Gambrill

Quebec’s Superior Court notes an insurer will almost always have a duty to defend an insured in disputes over policy exclusions for “professional activities.” “A review of the case law dealing with exclusion for ‘professional activities’ reveals that, in almost…

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When can a broker fire a client?

April 13, 2022 by Alyssa DiSabatino

On top of selling insurance, brokers are also tasked with managing client relationships. But what happens when a client doesn’t mesh with their broker?   “Sometimes it just doesn’t work out,” says Jack Mazakian, vice president of Advocis Broker Services. “You’re…