Canadian Underwriter

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News Legislation / Regulation

The ‘strange and new opportunity’ for insurance from open banking

January 4, 2021 by Greg Meckbach

If Canada proceeds with so-called “consumer-directed finance,” technology firms could potentially get access to consumers’ insurance data, a Microsoft Canada expert told brokers during a recent webinar. The federal finance department appointed its Advisory Committee on Open Banking in 2018.

News Technology

Why so many digitization projects fail

December 17, 2020 by Greg Meckbach

Buying technology before thinking through the process that the new technology is supposed to enable is one reason why some projects are not well-executed, an insurance digital transformation leader suggested Wednesday. “When you start to think about digitizing things, you

News Insurance

Honda recalls 130,000 vehicles in Canada

December 17, 2020 The Canadian Press

MARKHAM, Ont. – Honda says it will recall 130,000 vehicles in Canada, including certain Fit, Civic, Accord, Insight and Acura ILX models, after announcing a similar recall of 1.4 million vehicles in the U.S. The automaker says 96,761 of the

News ClaimsClaims CanadaCommercial LinesLegal

Another win for wedding vendors in a COVID cancellation dispute

December 16, 2020 by Greg Meckbach

A British Columbia couple who cancelled their August 2020 wedding due to pandemic concerns is not entitled by a force majeure (an ‘Act of God’) clause to a refund of $4,000 they paid the would-be venue in advance. The province’s

Feature ClaimsClaims CanadaLegal

Taming Social Inflation

December 16, 2020 Adam Malik, Managing Editor

Social inflation essentially describes insurers’ increasing legal costs. Why insurers are pinning this primarily on the rise of litigation funding

News BrokersInsuranceLegalLegislation / RegulationMarkets / CoveragesRisk

Defying The Grinch may cost your clients home insurance coverage

December 11, 2020 by David Gambrill

Are your clients tempted to defy The Grinch who stole Christmas and have large holiday gatherings during the pandemic regardless of what public health orders might say? You might want to tell them about pandemic exclusions in their home insurance

News Insurance

What the regulators’ data says about insurers and fair treatments of customers

December 10, 2020 by David Gambrill

Canadian P&C insurers have generally embraced the general principles of the Fair Treatment of Consumers (FTC), but the industry still has some work to do in specific benchmark areas, according to an annual statement on market conduct issued by the

News AdjustersClaimsClaims CanadaInsuranceLegislation / Regulation

What four home insurers told the auditor general about illegal electrical work

December 8, 2020 by Greg Meckbach

Some Ontario homeowners could collect insurance money on property claims even if the damage was caused by illegal electrical work, the auditor general suggests in her report released Monday. Staff with the province’s Office of the Auditor General contacted four

News Insurance

IBC reveals the latest trends in auto theft

December 8, 2020 by Jason Contant

Electronic auto theft, high-end vehicles stolen for shipment overseas, and street racing are three emerging trends coming out of Insurance Bureau of Canada’s (IBC) list of Top 10 stolen vehicles in 2020. Electronic auto theft is on the rise across

News Insurance

Editorial: Regulators, leave subscription policies alone

December 7, 2020 by David Gambrill

When it comes to regulating “Best Terms Pricing” in Canada, Canadians, politicians and insurance regulators be forewarned: Be careful what you wish for. Banning the practice in a hard commercial lines market could wind up making things worse for consumers,

News Insurance

Saskatchewan restarts emergency grants for small businesses hit by COVID-19 rules

December 3, 2020 Stephanie Taylor - THE CANADIAN PRESS

REGINA – The Saskatchewan government is reviving an emergency grant program for small businesses that have been hit by restrictions aimed at stemming the spread of COVID-19. The province will begin accepting applications for its small business emergency payment program

News ClaimsClaims CanadaInsuranceLegislation / Regulation

Public not aware of rights lost in B.C.’s no-fault auto scheme: personal injury lawyer

December 1, 2020 by Greg Meckbach

The average British Columbia consumer does not really understand what rights they will lose with the auto insurance reforms scheduled to take effect this May, a Vancouver personal injury lawyer warns. Provincial politicians voted earlier this year to pass Bill