Why insurers incurred penalties for over-charging Alberta auto clients
October 2, 2020 by Greg MeckbachProgramming errors are cited as the culprit for why some Alberta auto clients have been charged higher rates than those approved by the Automobile Insurance Rate board. Six auto insurers (ultimately owned by Economical, TD Bank and Intact) had to…
What happens in Alberta when auto insurers are not comfortable with their profitability
September 23, 2020 by Greg MeckbachThe Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday…
Adjusting Calgary’s hailstorm: The rationale for bringing in U.S. Cat adjusters
August 28, 2020 by Greg MeckbachDuring the hail storm this past June that damaged tens of thousands of Alberta homes, adjusting firm CRU Group struggled to find enough qualified independent catastrophe adjusters in Canada, and wound up resorting to bringing in people from the United…
The business line that drove Intact’s profitability in 2020 Q2
July 31, 2020 by Greg MeckbachIf you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in…
Tour company investigating Alberta glacier bus crash that killed three
July 20, 2020 Bill Graveland - THE CANADIAN PRESSCOLUMBIA ICEFIELD, Alta. – The president of the company that runs the bus tours at the Columbia Icefield between Banff and Jasper said changes will be made, if necessary, after a rollover on the glacier killed three people and sent…
How many claims the Calgary hail storm caused
July 16, 2020 by Greg MeckbachThe industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The…
How ‘actual cash value’ could be affecting some Alberta hail victims
June 26, 2020 by Greg MeckbachIf some Alberta homeowners are only getting a small fraction of the cost to repair properties damaged in the recent hail storm, that could be the result of choosing a policy that only covers actual cash value, Insurance Bureau of…
Auto total loss claims escalate after Calgary hail storm: IBC
June 24, 2020 by Greg MeckbachThe industry is expecting well over 20,000 claims from the recent Alberta hail storm, and some vehicles were wrecked badly enough that they have to be written off, the Insurance Bureau of Canada reports. “We are hearing from several consumers…
How pandemic could complicate claims adjusting after Alberta hail storm
June 22, 2020 by Greg MeckbachThe COVID-19 pandemic could complicate the movement of adjusters if help is needed from south of the border to deal with the aftermath of the recent southern Alberta storm. “I think customers by and large are recognizing that it’s complicated…
Calgary hail damage ‘pretty startling’ to this adjuster
June 19, 2020 by Greg MeckbachIf you have clients in the Calgary area who suffered property damage in the June 13 hail storm, they could be waiting a while to get their properties repaired, an executive for one independent adjusting firm suggests. “There are tens…
Kernaghan Adjusters’ new hire will be essential to Fort McMurray flooding response plan
May 1, 2020 by Kernaghan AdjustersFORT MCMURRAY, AB, MAY 1, 2020/InsPress/ – Kernaghan Adjusters (KA) , Canada’s most reliable independent adjusting firm – is pleased to welcome back Christie Belok-Bunn CIP to the Alberta team. Christie began her career as a Claims Adjuster after attaining…
Flooding in Fort McMurray leads to request for military assistance from Ottawa
April 27, 2020 THE CANADIAN PRESSFORT MCMURRAY, Alta. – Flooding in northern Alberta has led to mandatory evacuations in Fort McMurray and a request to the federal government for military assistance. “We have requested assistance from the federal government as we face this new crisis,”…