Will there soon be a consistent approach to adjuster licensing across Canada? New Brunswick is one province moving towards that goal. Earlier this month, the Insurance Division of New Brunswick’s Financial and Consumer Services Commission released a consultation paper on…
While online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote…
Despite being told flooding in Ontario’s Cottage Country back in 2013 was one-in-100-years event, area businesses and residents are cleaning up from a second and more widespread flooding incident in less than a decade. Climate is playing a key role…
Will reputational harm coverage grow into its own coverage or will it remain sublimited, as is often the case? There is currently a lot of variance within the market in how this coverage is offered, if at all. Some insurers…
AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that…
Nova Scotia’s auto insurance regulator is not letting The Dominion of Canada General Insurance Company take marijuana legalization into account when calculating this year’s rate increases. The Dominion said in a rate change application that claims frequency will likely go…
OTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor…
With the upcoming legalization of edibles containing cannabis this October, Canadian claims adjusters may see more indirect injury loss and damage claims, suggests a lawyer with Field Law in Calgary. Compared to regular smoked marijuana, edibles have a more delayed…
Machines and applications with artificial intelligence (AI) capabilities will soon rely less on bottom-up big data and more on top-down reasoning that more closely resembles the way humans approach problems and tasks, Accenture said Monday. “We will have top-down systems…
The Ontario government is inviting drivers and consumers to share their views on how to lower the province’s auto insurance rates, part of a broader initiative on auto insurance reform. “The previous government’s failed system of stretch goals on auto…
Amazon and Google may disrupt the insurance industry some day, but don’t expect either of these firms to start underwriting, suggests the head of one of Canada’s largest property and casualty insurers. “The Googles and Amazons of this world might…
Canada’s highest court announced Thursday it will not hear a dispute arising from a vehicle repairman who got hurt while test-driving a customer’s car. The dispute is over a provision in Ontario Regulation 283/95 that sets out rules for auto…