Segment
Claims
Climate Changed: Catastrophe experts say retreat from flood risk is ‘critical option’
October 12, 2022 Amy Smart - THE CANADIAN PRESSVANCOUVER – All climate disasters are not created equal and the Institute for Catastrophic Loss Reduction recommends retreat in the face of only one type of threat. “In our opinion, retreat is not an option that is important for most…
How carriers can save money — and the environment — through claims
October 12, 2022 by Alyssa DiSabatinoA new claims solution may help carriers save costs during the claims process while also saving the environment. Through the new EcoClaims pilot program — which diverts waste from landfills by recycling flooring and drywall during the claims and restoration…
Are driver shortages fuelling a spike in Alberta trucking claims?
October 11, 2022 Philip PoradoBorder crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified…
Is cyber insurance upticking across Canadian organizations?
October 11, 2022 by Alyssa DiSabatinoSeventy-four per cent of organizations across Canada have decided to invest in cyber insurance in 2022 compared to 59% in 2021 despite increasing costs and requirements, finds a survey from the Canadian Internet Registration Authority (CIRA). However, most organizations…
How large property loss claims can become larger — and how to avoid it
October 7, 2022 by Alyssa DiSabatinoA large property loss claim can be worsened by theft or adverse weather events during the initial logistics stage if insurers don’t act quickly, a contractor expert warned during the Ontario Insurance Adjusters Association’s claims conference in Toronto Wednesday. Insurers…
Brokerage’s 11-year lawsuit against tech vendor allowed to continue
October 7, 2022 by David GambrillBallam Insurance Services, a Nova Scotia brokerage that sued its tech vendor 11 years ago over server issues, is allowed to proceed with its case despite examples of ‘inordinate’ and ‘inexcusable’ delays, the Supreme Court of Nova Scotia ruled Monday.…
Many Canadians are driving more but are they telling their insurers?
October 6, 2022 Canadian Underwriter StaffInsurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more…
Paid How Gore Mutual’s new National Operations Centre offers brokers faster service, out-of-the-box solutions
October 6, 2022 Gore MutualGore Mutual has heavily invested in its transformation on its path to becoming a Bigger, Bolder and Better personal property market in Ontario. From enhanced service and technology to improved experiences, the company is committed to growing with its broker…
GRC policy includes increased compliance costs for rebuild, court rules
October 5, 2022 by David GambrillGuaranteed replacement cost (GRC) coverage for rebuilding a flooded home in an area regulated by a conservation authority includes the increased regulatory compliance costs required for the rebuild, Ontario’s Superior Court has ruled in Emond v. Trillium Mutual Insurance Company.…
How do truck owners calculate downtime claims?
October 5, 2022 Kevin Thomas and Tony MilitelloWhen a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due…
No way to enforce fire codes on First Nations, and new law would be costly: document
October 5, 2022 Stephanie Taylor - THE CANADIAN PRESSOTTAWA – There is no way to enforce building or fire codes on First Nations and pursuing a legislative fix would require significant time and money, federal officials warn in an internal briefing document. But Blaine Wiggins, the senior director…
How commercial insurers can mitigate claims costs
October 4, 2022 by Alyssa DiSabatinoAlthough inflationary pressures are adding to the cost of first- and even third-party property claims, commercial insurers can leverage their global resources to reduce these costs, says a commercial insurance exec. “[Inflation] affects the cost to restore a building,” said…