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Lessons learned in a year when strategy changed on the fly

July 16, 2021 by Adam Malik

Understanding the relationship between your in-person and online communities is a lesson that one brokerage is taking away after 16 months of change when it comes to marketing and attracting new clients. COVID-19 was declared a global pandemic on March…

Cyberattack News Insurance

How the cyber threat landscape is evolving

July 16, 2021 by Jason Contant

Cyberattacks used to traditionally target specific industry sectors like healthcare, but one cyber insurance writer is now seeing a wide range of sectors in the line of fire. “When you look at our 2020 stats, we see a big difference…

News AdjustersCatastrophesClaimsClaims CanadaEngineeringInsuranceReinsuranceRestoration

Why insured losses from Barrie twister may be higher than you think

July 16, 2021 by Greg Meckbach

The number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported.…

Ford safety recall in Canada News Insurance

Ford issues three safety recalls affecting 42,000 Canadian vehicles

July 16, 2021 by The Canadian Press

DEARBORN, Mich. – Ford Motor Co. has issued three safety recalls affecting 850,000 vehicles in North America, including nearly 42,000 in Canada. The largest recall involves 775,000 Explorers, including almost 33,000 in Canada, for model years 2013 to 2017. The…

News ClaimsCommercial LinesInsuranceMarkets / Coverages

Why boat insurers are starting to feel more like car insurers these days

July 15, 2021 by Canadian Underwriter

Boats with high-tech safety gadgets are starting to look a lot more like cars nowadays — and that means more expensive and difficult repairs, as Aviva Canada reports. “The big trend we are seeing right now in watercraft is big…

News Insurance

Why construction projects are causing headaches for insurers

July 15, 2021 by Adam Malik

Bigger and more complex construction projects — especially those in established communities — are giving property and casualty insurance industry professionals in Canada a collective headache, says an industry expert. Construction projects have increased in complexity in recent times due…

News AdjustersClaimsClaims Canada

How courts have lowered the bar for bad faith claims against insurers

July 15, 2021 by Greg Meckbach

A court finding of bad faith can damage a carrier’s reputation and harm its broker relationships, an industry lawyer warned Tuesday. Of particular concern to carriers these days is the fact that the courts are lowering the bar for a…

News Insurance

What’s selling hotter than real estate these days? Brokerages

July 15, 2021 by Jason Contant

Buyers are paying up to double-digit multiples for Canadian commercial lines property and casualty brokerages, while pricing for smaller retail brokerages has softened, a P&C industry consulting firm has observed. “Some of the prices being paid for larger commercial brokerages…

News Insurance

Wildfire in Lytton, B.C. a ‘wake-up call’ to take precautions: safety board

July 15, 2021 by Camille Bains - THE CANADIAN PRESS

A wildfire in Lytton, B.C., during historically high temperatures points to a serious need to prevent similar occurrences, says the chairwoman of the Transportation Safety Board, which is investigating the possibility that a freight train could have been linked to…

News BrokersClaimsMarkets / Coverages

Vaccination Summer 2021: Boom times for travel insurance?

July 14, 2021 by David Gambrill

Travel insurance is poised to start its post-COVID rebound, with Canadian governments relaxing restrictions to allow more travel within and between provinces. “The travel insurance market will definitely rebound from this, because people are not going to stop traveling; we…

News Insurance

Do webinars have a future, post-pandemic?

July 14, 2021 by Adam Malik

Webinars are here to stay, says a brokerage executive. Many organizations turned to webinars following the onset of the global COVID-19 pandemic in March 2020. It was a way to connect, share information, and maintain a foothold in providing expert…

News AdjustersClaimsClaims CanadaInsuranceLegal

Top court asked to create “new law” in waiver case involving insurer’s flip-flop on coverage

July 14, 2021 by Greg Meckbach

Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel…