News
What insurers paid out for the latest Ontario storm
June 26, 2018 by Jason ContantA brief but powerful thunderstorm that rolled through southern Ontario on June 13 has been declared a notable claims event by Catastrophe Indices and Quantification Inc. (CatIQ). While the storm did not meet the catastrophe threshold of at least $25…
Data breach defendant must hand over computer forensics reports: court
June 26, 2018 by Greg MeckbachAn Ontario casino facing a class-action lawsuit over a data breach has lost its bid to prevent plaintiffs from getting their hands on part of a computer forensics investigation report. The casino claimed the report was protected by litigation privilege…
Marijuana legalization to offer pot by mail, access to banks
June 26, 2018 by Gene Johnson - THE ASSOCIATED PRESSMail-order weed? You betcha! With nationwide marijuana legalization in Canada on the horizon, the industry is shaping up differently there than the way it was established in nine U.S. states that have similarly broad legalization. Age limits, government involvement in…
Paid This is how savvy commercial underwriters are getting ahead of the competition
June 25, 2018 by Opta Information IntelligenceIn a fiercely competitive and increasingly challenging commercial lines marketplace, Opta Information Intelligence’s Commercial Perils Solution can now display an unparalleled scope of risk related insight to a particular piece of business. Allowing savvy underwriters to better manage their existing…
Fort McMurray airport sues insurer for $34 million in wildfire losses
June 25, 2018 by Jason ContantThe Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim…
Your clients may be aware of voice-activated tech, but are they buying it?
June 25, 2018 by Jason ContantCanadians’ awareness of voice-controlled, connected home devices such as Google Home or Amazon Echo is growing, but consumer interest in acquiring such a device is not keeping pace, a new study shows. Canada’s Internet Factbook 2018, released on June 20…
How Canada’s tourist boom creates a big opportunity for brokers
June 25, 2018 by David GambrillInsurance brokers seeking to grow their travel line of business should ask their clients if they are expecting friends or family to visit Canada in the future and, if so, whether they would be interested in purchasing “visitors to Canada”…
Canadian P&C consolidation will leave only “a few tables left”: broker
June 25, 2018 by Greg MeckbachLook for consolidation to continue within the Canadian property and casualty insurance industry, senior industry executives predicted at a recent conference. Also, expect insurers to take on a greater role in distributing the products. Speaking about consolidation, Adam Mitchell, the…
The thinking behind BFL’s ‘turnkey solution’ for cyber clients
June 25, 2018 by Greg MeckbachBrokers looking to sell cyber insurance to commercial clients should be looking to partner with non-insurance firms specializing in security and risk assessment, one Quebec-based broker advises. “Brokers need to look at not just selling insurance but partnering, and how…
Wildfire forces hundreds of people from remote community
June 25, 2018 by The Canadian PressSOUTHEND, Sask. – The threat of a growing wildfire has forced more than 600 people from a remote community in northeast Saskatchewan. Emergency management officials say the fire is getting larger but is still about 13 kilometres away from Southend.…
Insurer owes $234K in priority dispute when “named insured” is not the actual car owner
June 22, 2018 by David GambrillOntario’s Motor Vehicle Fund has recovered $234,574 in a priority dispute arising when GAN Canada Insurance (since acquired by Aviva Traders) sent a policy termination notice in 2001 to a named insured who was not the owner of the car…
Court ruling calls independence of auto claims dispute arbitrators into question
June 22, 2018 by Greg MeckbachThe Ontario Licence Appeal Tribunal’s first ruling on whether an auto accident claimant is catastrophically impaired has been quashed by a three-judge Divisional Court panel. The decision-making process at LAT “creates a reasonable apprehension of lack of independence” on the…