Segment
Claims
Intact’s game plan in personal auto
August 2, 2022 by Alyssa DiSabatinoIntact’s personal auto insurance premiums grew by 28% in 2022 Q2, but the company says its auto game plan is “not only pricing-driven,” the CEO reported during Intact’s recent earnings call. “Equally important is how we manage claims and our…
Inflation and higher interest rates may alter P&C market
August 2, 2022 Glenn McGillivrayA one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized…
Catalytic converter theft: a growing problem for auto insurers
July 29, 2022 by Jason ContantManitoba Public Insurance (MPI) is warning consumers about the need to protect their vehicles from catalytic converter theft as reports of this type of crime have significantly increased in recent months. According to MPI claims data, the public insurer has…
ServiceOntario employees charged in relation to theft of hundreds of vehicles
July 29, 2022 Noushin Ziafati - THE CANADIAN PRESSPolice say they’ve charged 28 people in Ontario and Saskatchewan, including several ServiceOntario employees, following an investigation into the fraudulent modification and sale of hundreds of stolen vehicles. In a news release Thursday, Ontario Provincial Police said they began an…
More B.C. heat records fall, conditions prompt flood watch
July 28, 2022 by Jason ContantVANCOUVER – Temperature records are melting across British Columbia as a prolonged heat spell grips the province but Emergency Management BC says it is not anticipating an extreme heat emergency. A statement from the agency says residents should monitor temperature…
The new cyber threat: phoning a call centre
July 28, 2022 by Jason ContantOne cyber insurance specialist is warning brokers and clients of a ransomware attack method that subverts common cybersecurity controls by tricking victims into phoning a call centre – rather than clicking a link – and instructing them to download malicious…
Why Marsh is optimistic about the cyber market
July 27, 2022 by Alyssa DiSabatinoGlobal brokerage Marsh is cautiously optimistic cyber’s hard market will eventually stabilize and insurers will soon be able to reward clients who have strong cyber controls with lower increases. “Market conditions are expected to remain challenging for the foreseeable future…
Brokerage E&O 101: How to win lawsuits against evasive clients
July 27, 2022 by David GambrillTaking notes and attaching them to a client’s file as part of an everyday business practice allowed a veteran broker at Wyatt Dowling Insurance Brokers to win a lawsuit launched by her client over two cars that burned up in…
Hockey Canada has paid $7.6M in sex abuse settlements since 1989
July 27, 2022 The Canadian PressOTTAWA – Hockey Canada says it has paid out $7.6 million in nine settlements related to sexual assault and sexual abuse claims since 1989, with $6.8 million of that related to serial abuser Graham James. The hockey governing body has…
Don’t forget to serve, even if the insurer already knows about the lawsuit
July 26, 2022 by David GambrillA claimant in a product liability case must still go through the formal process of serving notice in China of intent to sue a Chinese manufacturer, even if the defendant manufacturer was aware of the claim since 2019, had a…
Can multi-factor authentication beat smarter cybercriminals?
July 26, 2022 Jason ContantMulti-factor authentication (MFA) is becoming a standard requirement to obtain cyber insurance. But just as your clients are improving their insurability, cybercriminals too are designing their attacks around MFA. “It’s kind of like a game of Whack-a-Mole,” said Neal Jardine,…
Environment Canada confirms tornado touched down north of Belleville, Ont.
July 26, 2022 The Canadian PressEnvironment Canada has confirmed at least one tornado touched down in an area north of Belleville, Ont., as severe thunderstorms swept through parts of southern and eastern Ontario on Sunday night. In a preliminary report, the weather agency says staff…