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Can the P&C industry navigate these 3 problems in 2023?

January 9, 2023 by David Gambrill

Thanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…

Toronto's hospital for sick children suffers ransomware attack. News ClaimsCommercial LinesInsuranceMarkets / Coverages

Hospital for Sick Children says most systems back after ransomware attack

January 9, 2023 by The Canadian Press

TORONTO – The Hospital for Sick Children in Toronto says most of its priority systems are back after a ransomware attack affected its operations. Dr. Ronald Cohn, president and CEO of SickKids, says in a release Thursday that about 80…

Pickup truck and a camper News Insurance

Falling off the roof of a camper trailer is an “auto accident,” court rules

January 6, 2023 by David Gambrill

A man falling from the roof of his insured camper trailer while doing a pre-trip inspection counts as an auto accident, Ontario’s Superior Court found. Tuesday’s court ruling overturned a decision by Ontario’s Licence Appeal Tribunal, which found the man’s…

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How better boards may improve cannabis companies’ D&O options

January 6, 2023 by Philip Porado

Improvements in capacity in the directors and officers (D&O) insurance space, combined with a rising quality of boards of directors membership, is making coverage for cannabis producers and distributors more accessible. “We’ve seen a real shift in the experience levels…

An offshore oil rig in the middle of the sea News ClaimsCommercial LinesInsuranceLegalMarkets / CoveragesRestoration

Company operating Hibernia offshore oil platform challenging oil spill charges  

January 6, 2023 by The Canadian Press

ST. JOHN’S, N.L. – The company that operates the Hibernia offshore oil platform has pleaded not guilty to three charges related to a 2019 oil spill off the east coast of Newfoundland.  Court documents confirm the Hibernia Management and Development…

To the right, a car salesperson holds a set of keys above a contract, which sits on the desk. Across from the salesperson is the buyer. News BrokersInsuranceMarkets / Coverages

Do Canadians want to buy insurance from their car manufacturers?

January 6, 2023 by Alyssa DiSabatino

Just over a quarter (27%) of Canadian consumers are very or somewhat interested in purchasing car insurance directly from their manufacturers, a recent Deloitte survey found.  When asked what they saw as the primary benefits, almost half (47%) of interested…

Buildings sit in the water in Rose Blanche-Harbour Le Cou News CatastrophesClaimsClaims CanadaInsurance

Hurricane Fiona insurance damage estimate revised to $800 million

January 5, 2023 by David Gambrill

Hurricane Fiona has now caused insured damage of more than $800 million in Canada, according to Catastrophe Indices and Quantification Inc. (CatIQ). CatIQ’s initial estimate in October 2022 was $660 million. Hurricane Fiona now sits as the seventh-largest catastrophe in…

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What will drive collision repair delays in 2023?

January 5, 2023 by Alyssa DiSabatino

Delays in collision repair services, which started in 2021 and continued into 2022, will not stop anytime soon due to an ongoing repair technician labour shortage in Canada and the U.S., a consulting firm reported in a recent whitepaper.  “From…

Houses along the shores of Lake Erie following December's 'bomb cyclone' News CatastrophesClaimsClaims CanadaInsurance

How much did December’s ‘bomb cyclone’ cost Canadian insurers?

January 5, 2023 by Jason Contant

The ‘bomb cyclone’ that ripped through eastern Canada during the holiday season has been declared a catastrophe, Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Thursday. The winter storm brought heavy snowfall, strong winds and blizzard conditions to…

Shopping for a new car News Markets / Coverages

2022 auto sales lowest since 2009: DesRosiers

January 5, 2023 by The Canadian Press

DesRosiers Automotive Consultants Inc. says light vehicle sales were up 5.5 per cent in December compared with last year but were down for the whole year. The firm estimates 109,000 new light vehicles were sold in the month of December,…

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Defining vacancy: Why the court upheld insurer’s denial of a $100K water damage claim

January 4, 2023 by David Gambrill

An insurance policy exclusion for vacancy applies, even when an insured has arranged for people to look after the vacant property on a daily basis, so long as there is no intention to inhabit the place again, the Ontario Superior…

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Sedgwick appoints new president, property and international business

January 4, 2023 by Alyssa DiSabatino

Tom Simoncic has been appointed as president of Sedgwick’s property and international business. Simoncic joined Sedgwick through acquisition. He is currently president of property for the Americas for the last seven years and is responsible for servicing clients in Canada…