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Claims
Tarantula blamed for crash that sent Canadian motorcyclist to the hospital
November 3, 2023 The Associated PressDEATH VALLEY, Calif. (AP) – A tarantula crossing the road in Death Valley National Park caused a traffic crash that sent a Canadian motorcyclist to the hospital, the National Park Service said. Swiss travelers, driving a rented camper van, braked…
Coastal storms: Could U.S. scenario happen here?
November 1, 2023 Philip PoradoIncreasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values…
How to build environments that reduce staircase injuries
October 31, 2023 By Dr. Andrew Huntley and Claire Miller, 30 Forensic EngineeringAs research drives new ways to build staircases that can prevent slip-and-falls, Canada’s building codes should be updated accordingly to reflect the safer designs. The importance of code updates is illustrated by falls on stairs, which in Ontario alone led…
What’s driving rising ransomware attacks
October 30, 2023 Philip PoradoRansomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their…
Where auto and home insurance rates are headed
October 24, 2023 by Jason ContantHard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all provinces. In 2023 Q3, personal auto premiums in…
Claims veteran announces retirement
October 23, 2023 by Jason ContantLorri Frederick will retire as president of ClaimsPro North America at the end of this year. Frederick’s insurance career spans more than 30 years in the industry, including 10 years at independent adjusting firm ClaimsPro. “During her 10 years with…
Regulator imposes hefty penalties in auto repair fraud case
October 20, 2023 by Jason ContantOntario’s financial services regulator has fined an auto body shop $75,000 and one of its employees at the time $15,000 in connection with fraudulent business practices. The Financial Services Regulatory Authority of Ontario (FSRA) imposed a compliance order and administrative…
Behind the industry’s ‘modest decline’ in auto premiums
October 17, 2023 by Jason ContantCanada saw an overall “modest decline” of 3.5% in personal auto insurance premiums last year, AM Best reported during an industry event in Toronto earlier this month. Lower profit margins in Canadian auto insurance are likely to remain under pressure…
Which commercial line needs more capital?
October 16, 2023 by Jason ContantEven though the cyber insurance market is in a much better place now than a few years ago, it still needs an injection of capital to keep up with burgeoning demand, a speaker said during an industry event earlier this…
New Aviva Canada partnership targets rent deposits
October 5, 2023 by Jason ContantAviva Canada has partnered with technology company RentHaven Inc. to offer tenants a product that provides an alternative to large upfront security and last month’s rent deposits through a surety bond. Underwritten by Aviva Insurance Company of Canada, the surety…
Tropical storm Philippe bringing heavy rain to the Maritimes this weekend
October 5, 2023 The Canadian PressHALIFAX – Heavy rain and strong winds are in the forecast for the three Maritime provinces this weekend. Environment Canada has issued special weather statements for New Brunswick, Nova Scotia and Prince Edward Island, saying 50 millimetres of rain or…
How auto insurance will navigate a world with self-driving cars
October 4, 2023 Tim Crljenica, Thomas Gold Pettingill LLPSelf-driving cars have been a part of visions of the future for decades, and what was once only imaginary has started to become reality. Not only do self-driving cars exist, but five U.S. states (Arizona, California, Michigan, New Hampshire and…