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News ClaimsInsurance

Adjudicating claims and setting claims reserves are different, right?

January 21, 2020 by David Gambrill

An Ontario court has rejected an attempt by claimants in a bad faith claim against an insurer to blur the line between claims adjudication and setting claims reserves, ruling that the insurer’s “records pertaining to reserves” were irrelevant to how…

News InsuranceReinsurance

When OSFI will reissue proposed draft reinsurance rules

January 21, 2020 by Jason Contant

The Office of the Superintendent of Financial Institutions (OSFI) could be reissuing a new draft of its proposed new reinsurance rules “within the next few weeks,” a property and casualty insurance industry veteran predicted last week. “I believe OSFI will…

News Climate ChangeInsuranceRisk

Edmonton fire chief says people must adapt to more wildfires

January 21, 2020 by Bob Weber - THE CANADIAN PRESS

EDMONTON – In a few weeks, Ken Block will hang up his uniform as head of Edmonton Fire Rescue and head Down Under to assume command of 5,000 firefighters in Australia. “I’m really looking forward to getting over there,” the…

News ClaimsInsurance

State of emergency delays adjusters’ response to ‘Snowmageddon’ in Newfoundland

January 20, 2020 by David Gambrill

Buried under a record-breaking 76 cm of snow over a 48-hour period, and with 15-20 cm more snow in the forecast Monday, it will be a while before claims adjusters will be able to assess the damage of the massive…

News ClaimsClaims CanadaLegalRestoration

Couple sued over basement flooding after selling fixer-upper

January 20, 2020 by Greg Meckbach

A Kelowna couple have been sued for $168,000 after a house they sold suffered basement flooding. In Brunning v. Cummings, released Jan. 13, Supreme Court of British Columbia Justice Gordon Weatherill awarded the damages to Cheri and Joel Brunning. The…

News InsuranceTechnology

The status of ‘silent cyber’ in the insurance industry

January 20, 2020 by Jason Contant

Silent cyber has long been a thorn in the side of some insurers, and it doesn’t look like the issue will be resolved any time soon. Part of the issue is that the cyber market doesn’t exist to cater to…

News CatastrophesInsuranceRisk

Why green concerns have experts seeing red

January 20, 2020 by Adam Malik

The World Economic Forum is sounding the alarm that the top most-likely global risks are all environment-related. In the group’s 15th annual Global Risk Report, survey respondents listed their Top 5 most-likely top global risks in 2020: extreme weather climate…

News RiskTechnology

Google CEO calls for regulation of artificial intelligence

January 20, 2020 by Kelvin Chan - THE ASSOCIATED PRESS

LONDON – Google’s chief executive called Monday for a balanced approach to regulating artificial intelligence, telling a European audience that the technology brings benefits but also “negative consequences.” Sundar Pichai’s comments come as lawmakers and governments seriously consider putting limits…

News InsuranceMGAsTechnology

An MGA can land in “big trouble” if it fails to do this

January 17, 2020 by Greg Meckbach

Technology could make it easier to start up new managing general agents – which is good news for some and bad news for others, panelists suggested during a recent webinar. “If you [as an MGA] are sitting there thinking, ‘Oh…

News EmploymentProfessional Development

Why you shouldn’t go outside the industry to find talent

January 17, 2020 by Jason Contant

It’s no secret that there is a war for talent in Canada’s property and casualty insurance industry. But before you look outside your brokerage or insurance company for talent, take a look inside, advises Tomas Chamorro-Premuzic, the chief talent scientist…

News ClaimsClaims CanadaEngineeringLegal

How this buried oil tank came back to haunt former homeowners

January 17, 2020 by Greg Meckbach

If your clients are selling their home, should you ask whether prospective buyers want written assurance that any oil tanks are removed and the soil cleaned up? Scott Warren and Antonia Camille Fantillo sold their home in early 2016. They…

News Insurance

What Sonnet hopes to gain from NHLPA partnership

January 17, 2020 by Adam Malik

Technology is making more of an impact in professional sports, and the same can be said for insurance. That makes re-upping the relationship between Sonnet and the National Hockey League Players’ Association a natural decision, said the company’s marketing head.…