News

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday.…

Imagine firing up your computer on a Monday morning with the usual hustle and bustle of various requests to attend to. An urgent client request for a policy change comes in but, in a rush, you decide to send this…

When multiple commercial insurers are on the hook consecutively for long-tail claims spanning decades, defence costs should be allocated according to the proportion of time they were on risk, the Ontario Appeal Court ruled this week. The court’s landmark decision…

Hundreds of thousands of books have been freed from a months-long purgatory as scores of staffers race to get them out of storage and back on shelves following a cyberattack that felled the Toronto Public Library’s computer systems in October.…

Product complexity remains a huge obstacle to selling cyber insurance to neophyte business clients, brokers told Canadian Underwriter in a January online survey. A stronger emphasis on cyber education — to clients, brokers, and underwriters alike — is critical to…

With massive retirements on the horizon for the Canadian P&C insurance industry, one organization is taking a multi-faceted approach to address the ‘talent crisis.’  The McGannon Foundation is ‘laser-focused’ on promoting the risk management and insurance profession in Canada through…

Property and casualty insurance industry professionals and a car manufacturing industry representative are endorsing the idea of establishing a national auto theft office, an idea floated at Ottawa’s National Summit on Combatting Auto Theft earlier this month.  “Criminals have really…

An insurer doesn’t owe provincial premium tax on auto dealer’s fees charged for vehicle equipment warranties, the Supreme Court of B.C. has ruled. Vehicle equipment warranties are commonly sold at auto dealerships. Customers pay for vehicle warranty policies as part…

Extreme weather conditions were expected to continue across Canada on Thursday after a sharp cold front with high winds hit vast areas of Quebec and Ontario, knocking out power lines and leaving tens of thousands of people in the dark…

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press…

Canada’s P&C insurance industry is looking at everything from career fast-track programs to scholarships and student involvement programs to handle talent recruitment challenges. Recruitment has long been an industry challenge. In late January, the Insurance Institute of Canada, the industry’s…

An acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now…