Executive challenges brokers regarding earthquake take-up rates in Quebec
February 8, 2019 by Jason ContantSparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp…
What the industry learned from the costliest catastrophe of 2018
February 7, 2019 by Jason ContantThe sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people…
Broker lands in hot water after BI coverage miscue
February 5, 2019 by David GambrillA Manitoba broker landed in hot water after filling in for a vacationing colleague whose commercial client wound up without business interruption coverage. Broker John C. McDonald was fined $250 for his role in the coverage mix-up. When McDonald’s work…
Prominent insurance defence lawyer named as judge
February 5, 2019 by David GambrillInsurance defence lawyer William S. Chalmers, managing partner at Hughes Amys LLP, has been appointed a judge of the Superior Court of Justice of Ontario in Toronto. Called to the Ontario Bar in 1987, Justice Chalmers practised law at Hughes…
Why the cyber market has become so crowded
January 31, 2019 by Greg MeckbachClients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
Why being a broker is the best job ever
January 31, 2019 by Jason ContantThe feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal…
Client loses lawsuit arising from automatic policy renewal
January 31, 2019 by Greg MeckbachA motorcyclist who tried to sue his insurer for renewing his policy and deducting money from his account will not have his case heard before the Supreme Court of Canada. The top court announced Jan. 31 it has turned down…
Insurers disagree over meaning of ‘household’ in policy language
January 29, 2019 by Greg MeckbachA dispute over what exactly constitutes a “household” in a home insurance policy has reached the Court of Appeal for Ontario. Several members of the Weiner family were sued after a person drowned in 2010 in a vacation home on…
How your commercial clients are exposed to pot liability even if they don’t produce cannabis
January 25, 2019 by Greg MeckbachMarijuana poses a liability risk for commercial clients even if they are not in the cannabis business, an insurance lawyer suggests. Suppose your client operates a hotel where a party takes place. If someone smokes cannabis at that party, drives,…
By how much did your clients’ auto rates increase last quarter?
January 24, 2019 by David GambrillOntario auto insurance rates increased by an average of 3.35% in the fourth quarter of 2018, with several companies receiving approval for double-digit rate increases, the province’s regulator reported. Overall, 23 insurers representing approximately 51% of the market based on…
Alberta insurance tech provider acquires Ontario specialty insurer
January 23, 2019 by David GambrillBesurance Corporation, a Calgary-based insurance and technology company, has agreed to acquire Fenchurch General Insurance Company, an Ontario-based specialty insurer that offers insurance programs across Canada. Specifically, Fenchurch provides programs in warranty, trucking, surety and accident and sickness. Its products…
Sale of Echelon Insurance to CAA gets shareholder approval
January 23, 2019 by Greg MeckbachNon-standard auto insurer Echelon Insurance is a step closer to being acquired by The CAA Club Group of Companies. Shareholders of Echelon Financial Holdings Inc. voted Wednesday in favour of the $175 million deal, Echelon said in a release. In…