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Look for ICBC to ‘behave more like a private sector company’: IBC

February 9, 2018 by Greg Meckbach

With its cap on minor injury awards announced Tuesday, British Columbia’s government monopoly auto insurer is moving towards a model used by other provinces that have private auto insurance systems, Insurance Bureau of Canada says. Awards for pain and suffering…

News InsuranceMergers and Aqcuisitions

Oil and gas fuel Hub’s latest acquisition

February 9, 2018 by Jason Contant

Diversification into oil and gas partially fueled Hub International‘s recent acquisition of Kindersley Insurance, the company told Canadian Underwriter Thursday. Keith Jordan, president and CEO of Hub Manitoba, said acquiring the shares of Kindersley Insurance was beneficial for both companies.…

News InsuranceMarkets / CoveragesTechnology

Average Canadian company faces $3.7 million in cyber exposure

February 9, 2018 by Jason Contant

The cost to recover from security breaches in Canada averages $3.7 million in direct and indirect costs per organization, including network down time, employee work days, lost files and compromised information, according to a new survey. Of that amount, the…

News InsuranceLegalMarkets / Coverages

Dispute erupts between Quebec and Ottawa over personal cultivation of pot plants

February 9, 2018 by The Canadian Press

QUEBEC – Ottawa’s plan to legalize marijuana is causing a rift with Quebec over how many plants are allowed to be grown at home. The federal government’s bill allows Canadians to cultivate up to four pot plants, while Quebec doesn’t…

News InsuranceProfessional Development

Why your most engaged employees may be planning an exit strategy

February 8, 2018 by David Gambrill

Engaged employees are typically considered a feather in the cap of any insurance organization, but a new study suggests that employers could lose one out of every five of their most motivated employees because of burnout. “The many positive outcomes…

News InsuranceMarkets / CoveragesTechnology

Mixed responses to bullying in home insurance policies

February 8, 2018 by Greg Meckbach, Associate Editor

Home insurance can cover parents of alleged bullies who are sued by their victims, but policy wordings vary from insurer to insurer, a lawyer told claims professionals Tuesday. Cyber bullying encompasses many activities, including defamation, promoting hatred against people and…

News ClaimsInsuranceLegalMarkets / CoveragesTechnology

When drone damage could trigger a home insurance claim

February 8, 2018 by Greg Meckbach, Associate Editor

When consumers fly unmanned aerial vehicles as a hobby, will their home insurance policies cover them for any lawsuits arising from property damage or personal injury caused by the drones? For the most part, aircraft is excluded in the wording…

News AppointmentsInsuranceProfessional Development

This week in P&C employment changes

February 8, 2018 by Jason Contant

Co-operators senior executive to retire The Co-operators announced Thursday the retirement of Bruce West, its executive vice president, finance and chief financial officer (CFO), effective June 1, 2018. West joined The Co-operators in 2007 as CFO and over the past…

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

Why are electronic pink slips being held up in Ontario?

February 8, 2018 by Jason Contant

Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still examining some of the complexities surrounding electronic proof of auto insurance (EPAI) before approving their use in the province, offering no timetable to launch EPAI in Ontario. “As…

News ClaimsInsuranceMarkets / Coverages

This province recorded its lowest number of traffic deaths in almost 70 years

February 8, 2018 by The Canadian Press

REGINA – Preliminary figures show that in 2017 Saskatchewan recorded its lowest traffic fatality numbers since the 1950s. Saskatchewan Government Insurance says in a release that there were 102 deaths last year compared with 125 in 2016. SGI says the…

News ClaimsInsuranceLegalLegislation / RegulationTechnology

Will current auto liability regime apply to driverless cars?

February 7, 2018 by Greg Meckbach, Associate Editor

Insurance and traffic laws probably need to change when motorists start sharing the road with driverless cars, a speaker told claims specialists Tuesday. There are now vehicles on the roads with limited self-driving capabilities (as opposed to having no steering…

News ClaimsInsuranceLegal

How lawsuits arising from stolen vehicles could affect drone claims

February 7, 2018 by Greg Meckbach, Associate Editor

Liability risk for operators of unmanned aerial vehicles (commonly known as drones) will be affected by past court rulings concerning parked vehicles, a lawyer suggested Tuesday during a claims conference. And based on precedents set in the vehicle cases, it…