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Lloyd’s proposes “open source” frameworks for future pandemic coverage

July 6, 2020 by David Gambrill

Lloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers

News BrokersClaimsInsuranceRiskTechnology

These types of businesses are in serious need of a cyber policy

May 28, 2020 by David Gambrill

With ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved

News InsuranceLegislation / Regulation

What cabinet upheaval means for auto reform progress

June 24, 2019 by Adam Malik

Ontario Premier Doug Ford has made drastic changes to his cabinet just months after including auto reforms in its first budget. Taking over as finance minister – and in effect, the auto insurance file – will be Rod Phillips. The

News ClaimsInsurance

Here are the most common type of travel insurance claims

June 20, 2019 by Jason Contant

Think you don’t need travel insurance? Think again. According to a recent survey conducted on behalf of RBC Insurance, just over one-quarter (26%) of 1,000 Canadians polled have made an insurance claim as a result of something that happened to

News Insurance

A ‘creative’ way of rolling out vehicle sharing insurance

June 18, 2019 by Greg Meckbach

Insurance for the recreational vehicle sharing economy is now available in Nova Scotia, RVezy Inc. announced Tuesday. Ottawa-based RVezy operates RVezy.com, a website that matches owners of recreational vehicles with renters. There are more than two million RVs in Canada and

News Insurance

Why home insurer must cover this killing despite intentional act exclusion

June 18, 2019 Randall Chase -  THE ASSOCIATED PRESS

DOVER, Del. – An American judge says an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a Wilmington, Del. school bathroom attack captured on cellphone video that left a 16-year-old girl

News InsuranceRiskTechnology

The real reason for spike in cyber claims

June 17, 2019 by Greg Meckbach

The number of reported cyber claims has jumped significantly, but it’s not because of the major breaches you’ve been reading in the headlines. Small to mid-sized organizations are at greater risk of cyber losses than large organizations, A.M. Best Company

News InsuranceMergers and Aqcuisitions

Quebec’s third biggest P&C insurer working on merger

June 13, 2019 by Greg Meckbach

La Capitale General Insurance and LEDOR Assurances could combine if a plan announced Wednesday is approved by regulators. The two property and casualty insurers “have embarked on an initiative to amalgamate,” Quebec City-based La Capitale Insurance and Financial Services said

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

What is costing Alberta auto insurers the most

June 13, 2019 by Jason Contant

Third-party liability coverage continues to be the bane of Alberta auto insurers’ existence, the province’s Automobile Insurance Rate Board (AIRB) revealed in its 2018 annual report. Provincial auto insurers collect 53% of every dollar for third-party liability coverage, but are

News AdjustersClaimsClaims CanadaInsuranceLegislation / Regulation

CU Total Loss Series: Bending Time

June 13, 2019 David Gambrill, Editor-in-Chief

Total Loss Series, Part 3: Solutions Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total

News InsuranceRiskTechnology

This social media risk lacks a mainstream insurance product

June 12, 2019 by Greg Meckbach

Want to place insurance that covers a client whose revenue suddenly plummets because of a disinformation campaign? This might be easier said than done, but one commercial insurer with a Canadian branch is hoping to change this. Right now, there

News BrokersLegislation / Regulation

Finding solutions as brokers face cancelled contracts

June 11, 2019 by Adam Malik

Real, sustainable solutions are needed to curb what’s being called a “devastating” time for some brokers in Alberta. The Insurance Brokers Association of Alberta (IBAA) has put together a task force to come up with ways to resolve what the