Segment
Consumers
Why Canadian P&C profitability is improving: AM Best
September 8, 2022 by Alyssa DiSabatinoGood overall underwriting results and solid risk-adjusted capitalization left the industry in a resilient position in 2021, despite the headwinds Canada’s P&C industry has faced in the last two-and-a-half years, according to AM Best’s Canada Market Segment Report. Headwinds the…
Insurer urges lessons for driving in school safety zones
September 7, 2022 by Alyssa DiSabatinoDangerous driving in school zones is a common occurrence, especially during back-to-school time, according to a survey by the British Columbia Automobile Association (BCAA). Eighty per cent of those surveyed said they’ve witnessed speeding in school zones, while 77% have…
How insurers can trim their environmental remediation costs
September 6, 2022 by Alyssa DiSabatinoInsurers can trim their environmental remediation costs by shopping around for more than one site estimate, recommends Lori Festarini, environmental director at Charles Taylor. That may involve getting technical support or peer-reviewed cost estimates, she elaborates. “One way of managing…
Swiss Re report shows trajectory of insured flood losses
September 2, 2022 by Alyssa DiSabatinoInsured flood losses doubled to $80 billion during 2011-20 compared to the previous decade, and global flood losses reached $20 billion alone in 2021, Swiss Re reports. “Increased wealth, larger populations and urbanization have raised flood risk exposures across the…
How much time you waste toggling between applications
August 31, 2022 by Alyssa DiSabatinoAs insurance becomes increasingly digitized, brokers and other professionals may feel as if they’re spending more time toggling between apps and websites than they are doing their jobs, but there may be a better way to spend the workday, according…
Feds’ task force reveals preferred flood insurance models
August 30, 2022 by Alyssa DiSabatinoA federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the…
Brokers: Do your clients have the right amount of vehicle loss-of-use coverage?
August 30, 2022 by Jason ContantAlthough supply chain issues show some signs of easing, these challenges are still causing lengthy repair times for vehicles that extend well past standard loss-of-use coverage. In other words, clients may need to pay out of pocket for months’ worth…
Number of impaired drivers issues alarm bell for insurer
August 29, 2022 by Alyssa DiSabatinoSaskatchewan Government Insurance statistics show a record this year in impaired driving offences. The province’s law enforcement stopped 497 impaired drivers, including 292 drivers who were charged with Criminal Code offences this July, according to SGI’s Traffic Safety Spotlight. “While…
Grassroots orgs demand insurers withdraw coverage for Trans Mountain Pipeline
August 26, 2022 by Alyssa DiSabatinoLiberty Mutual Insurance is among a list of insurers being asked by grassroots and Indigenous organizations to withdraw insurance support for the Trans Mountain Pipeline, which carries crude and refined oil from Alberta to British Columbia. A petition with more…
Fire-risk recall may give brokers opportunity to contact auto clients
August 25, 2022 Philip PoradoA recall of two late-model SUV models by Hyundai Motor America and Kia America was amplified by a consumer alert from the U.S. National Highway Traffic Safety Administration (NHTSA) in Washington. The issue involves a tow hitch, sold as a…
Canada could have its own Fyre Festival fiasco if it doesn’t amp up event regulations
August 25, 2022 Sean SpenceThis article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. In the spring of 2017, the public spectacle over the now…
How to bust a car theft ring – a look inside project MYRA
August 24, 2022 Philip PoradoIn late July, charges were announced in a nearly two-year, multi-jurisdictional investigation nicknamed Project MYRA that targeted rings of organized car thieves. The thieves altered vehicle identification numbers (VINs), and then re-registered and sold the cars privately to unsuspecting customers.…