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How this broker’s exclusive insurer deal went pear-shaped

November 18, 2018 by Greg Meckbach

A British Columbia broker that got acquired by a unit of The Co-operators Group Ltd. is in breach of contract with RSA Canada-owned Canadian Northern Shield, an Ontario court has ruled. In 2008, Vancity Insurance Services Ltd. was a brokerage…

News Insurance

Where to find your best brokers

November 16, 2018 by David Gambrill

This story is one in a series reporting on the results of 2018 National Broker Survey, conducted by Canadian Underwriter. The survey of more than 800 P&C brokers nationally was designed to identify the success strategies of both producers and principals. Find other instalments in the…

News ClaimsClimate ChangeInsuranceRestoration

Number of customers affected by power outages quadruples in this province

November 16, 2018 by The Canadian Press

VANCOUVER – A report from BC Hydro says despite soaring numbers of powerful storms or wildfires that cause power outages, the Crown utility is still managing to respond quickly to trouble spots through the use of new technology. The report…

News InsuranceTechnology

The Co-operators Duuo could go ‘way beyond home share’

November 15, 2018 by Greg Meckbach

More Insurtech products – in addition to coverage for overnight home rentals – could be coming down the pipe from the recently-launched Duuo, a speaker with Slice Labs Inc. reports. Coverage for homeowners listing their place on sites like Airbnb…

News ClaimsLegalLegislation / Regulation

Priority dispute can proceed in mechanic test-drive case

November 15, 2018 by Greg Meckbach

Canada’s highest court announced Thursday it will not hear a dispute arising from a vehicle repairman who got hurt while test-driving a customer’s car. The dispute is over a provision in Ontario Regulation 283/95 that sets out rules for auto…

News InsuranceRisk

Insurers weigh in on how automated vehicles should be covered

November 15, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) has recommended a single insurance policy to cover driver negligence and automated technology to facilitate liability claims associated with autonomous vehicles. “The automated vehicle’s insurer would compensate injured people if the automated vehicle caused…

News InsuranceLegislation / Regulation

Accounting body proposes extension for IFRS 17

November 15, 2018 by David Gambrill

The International Accounting Standards Board (IASB) has voted to propose a one-year deferral of the effective date for IFRS 17 to 2022. Insurance companies globally have lobbied for the extension as they prepare their transition to the International Financial Reporting…

News Catastrophes

Storm gives Newfoundland ‘an awful beating’

November 15, 2018 by By Holly McKenzie-Sutter - THE CANADIAN PRESS

ST. JOHN’S, N.L. – A ferocious storm is pounding much of Newfoundland and Labrador with powerful winds, blowing snow and surging waves, in what Environment Canada said was the largest storm in the world as of Thursday afternoon. “The shore…

News ClaimsLegislation / Regulation

Company calls for tow truck operator training standards

November 14, 2018 by Greg Meckbach

Tow truck drivers should not be allowed to hook up and haul vehicles damaged in collisions without some sort of certification above and beyond a driver’s licence, says CAA South Central Ontario. “If you have a Class G driver’s licence,…

News InsuranceLegalMarkets / Coverages

Is seven months too long to wait for car repairs?

November 14, 2018 by Jason Contant

A B.C. small claims tribunal has dismissed a driver’s claim that his repair shop negligently misrepresented the amount of time it would take to repair his vehicle. Jizhou Zhang sought an award of $4,500 for the loss of use and…

News ClaimsInsuranceLegal

How often are people scamming insurers with cheque fraud?

November 14, 2018 by Jason Contant

Insurance fraud is again in the news, after a Moncton, N.B. man was sentenced to 30 days in prison and 18 months probation for illegally intercepting two insurance cheques sent to an Aviva Canada insured. Just how prevalent is cheque…

News BrokersInsuranceLegal

Brokers, do your auto insurers cover HST on capped benefits?

November 14, 2018 by Greg Meckbach

Brokers placing Ontario auto coverage should ask insurers whether they are including sales tax when they calculate caps on benefits, a lawyer told Canadian Underwriter Tuesday. Ontario consumers must pay 13% Harmonized Sales Tax on many goods and services. Some…