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Why Supreme Court ruling in car theft case offers little comfort to insurers

May 14, 2018 by Greg Meckbach

Liability risk for companies having control of vehicles may be somewhat lessened with the Supreme Court of Canada’s recent ruling in Rankin (Rankin’s Garage & Sales) v. J.J., but a plaintiff injured as a result of a vehicle theft can…

News InsuranceTechnology

“Don’t be on the sidelines,” speakers say of blockchain

May 14, 2018 by Greg Meckbach

Blockchain, the technology behind Bitcoin, does not have a foothold in insurance yet, but it will no doubt disrupt some industries, speakers said last week at a financial industry conference. Blockchain promises “massively new business models,” Andrew Maxwell, director of…

News CatastrophesClaimsInsurance

Report to government suggests hot opportunity for brokers right now

May 14, 2018 by Jason Contant

Brokers in British Columbia looking to place overland flood cover should review a recent study that found polled respondents did not have access to overland flood insurance, did not know about it, or found it unaffordable. Even more alarming, most…

News EmploymentInsuranceProfessional Development

Paid Part 3 of DGA study reveals how to achieve your ideal insurance career

May 14, 2018 by DGA Careers

What direction do you see your insurance career taking over the next five years? Are you on a path to the C-suite or other leadership role? Alternatively, do you have a more entrepreneurial vision for either starting a company or…

News InsuranceLegal

What’s the difference between a “self-insured retention” and a deductible?

May 14, 2018 by David Gambrill

A “self-insured retention” [SIR] is effectively the same thing as a deductible in a contract triggered by an insurer’s duty to defend, an Ontario court has ruled in a case involving an agreement between an elevator contractor and the building…

News Claims

What could cause more flood woes in B.C.

May 14, 2018 by The Canadian Press

VANCOUVER – Torrential rains that pushed southern British Columbia waterways to flood stage have eased, but officials warn a new threat of unseasonably warm weather could rapidly melt snowpacks, adding to already swollen rivers. David Campbell, head of the B.C.…

News BrokersInsuranceMarkets / Coverages

Brokers worried that Ontario auto problems will force companies to exit market

May 11, 2018 by Jason Contant

Brokers in Ontario are concerned that if auto insurance in the province remains unsustainable, companies may start to leave the market. Traci Boland, chairwoman of the Insurance Brokers Association of Ontario (IBAO), spoke to Canadian Underwriter Thursday about trends in…

News InsuranceMarkets / Coverages

Consolidation of employee benefits firms among hot trends affecting P&C commercial lines

May 11, 2018 by David Gambrill

What are some of the hottest trends in Canadian P&C commercial lines right now? Insurtechs in the SME [small and medium sized enterprise] customer segment is a key driver in today’s commercial market, says Jim White, chief sales officer and executive vice president…

News InsuranceLegal

Paralegal license revoked for dishonest dealings with insurers

May 11, 2018 by David Gambrill

Ontario’s legal regulator has revoked the license of a Richmond Hill paralegal for professional misconduct, finding that he misrepresented himself to insurance companies in accident benefits claims. In addition, the Law Society Tribunal ordered Roland Spiegel to pay the regulator…

News Legislation / RegulationTechnology

How fear of ‘jackbooted brownshirts’ complicates cyber risk management

May 11, 2018 by Greg Meckbach

Managing the risk posed by the “dark web” is made all the more difficult by some people’s mistrust of police, a former top Royal Canadian Mounted Police officer suggested Thursday. “Cyber crime requires a different approach than just the preventative…

News CatastrophesClimate ChangeInsurance

‘Many more significant losses’ due to climate change: Economical execs

May 11, 2018 by Greg Meckbach

Climate change was top of mind Monday for executives at Economical Insurance, which was hit with 11 weather catastrophes in 2017. “Climate change has resulted in many more significant losses from water and wind events,” said Gerald Hooper, a former…

News InsuranceLegal

Supreme Court says garage not liable for teen crash in stolen car

May 11, 2018 by The Canadian Press

OTTAWA – A garage owner should not be held responsible for the terrible injuries a teen suffered when he and a friend stole a car from his lot and crashed it in a “tragic set of events,” the Supreme Court…