Why brokers need to stay in front of students who move away from home
June 28, 2018 by David GambrillStudents who leave home for school represent a big opportunity for brokers to provide value-added advice on a variety of insurance coverage changes, but the key is for brokers is to get in front of the students before they make…
Will we ever see another hard market again?
June 27, 2018 by David GambrillIs the traditional hard market “broken”? Insurance pricing cycles have all but evaporated over the past decade, with premium rates during this period showing an overall decline. The trend is illustrated once again in the 2018 Risk and Insurance Management…
New P&C database could increase cat bond, ILW activity in Canada
June 27, 2018 by David GambrillCatastrophe Indices & Quantification Inc. (CatIQ) has launched Canada’s first ever insurance Industry Exposure Database (IED), developed with support from the Canadian property and casualty insurance industry and in partnership with Zurich-based PERILS AG. The IED contains 2016 and 2017…
Fort McMurray airport sues insurer for $34 million in wildfire losses
June 25, 2018 by Jason ContantThe Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim…
How Canada’s tourist boom creates a big opportunity for brokers
June 25, 2018 by David GambrillInsurance brokers seeking to grow their travel line of business should ask their clients if they are expecting friends or family to visit Canada in the future and, if so, whether they would be interested in purchasing “visitors to Canada”…
Insurer owes $234K in priority dispute when “named insured” is not the actual car owner
June 22, 2018 by David GambrillOntario’s Motor Vehicle Fund has recovered $234,574 in a priority dispute arising when GAN Canada Insurance (since acquired by Aviva Traders) sent a policy termination notice in 2001 to a named insured who was not the owner of the car…
ClaimsPro prepares dedicated adjuster team for marijuana legalization
June 22, 2018 by Jason ContantIndependent adjusting company ClaimsPro announced this week that it has prepared a dedicated adjuster team for the cannabis industry, just as Canada moves to legalize marijuana in October. The team will exclusively handle first- and third-party cannabis claims, such as…
Claims professionals speak out amid allegations of contractors providing insurance advice
June 21, 2018 by Jason ContantOntario and Quebec’s May 4 windstorm event has the Canadian claims industry talking about the proper roles of contractors and adjusters, based on unconfirmed reports that individual rogue contractors – e.g. not people associated with the larger restoration contracting firms –…
The obligation to defend additional insureds
June 19, 2018 Talaal Bond, partner, Matthews Abogado LLPIt was snowing heavily on February 8, 2013 when Antonio Carneiro Jr. drove his car downhill on Brock Rd. near Pickering, Ontario. He lost control. His vehicle slid into the path of an oncoming vehicle at the intersection with Whitevale…
Quebec places number on brokerage distribution agreements with insurers
June 18, 2018 by Jason ContantThe Quebec National Assembly has adopted Bill 141, which will require brokerages in the province to have at least three distribution agreements in place for personal lines with insurers “that are not in the same financial group.” Hypothetically, brokerages could…
New basement flood awareness training for home insurance brokers
June 14, 2018 by Greg MeckbachA course on basement flooding risk will likely be available to Canadian property and casualty insurance brokers within the next year, Blair Feltmate, head of the Intact Centre on Climate Adaptation, told Canadian Underwriter Monday. The Intact Centre also plans…
Google, Big 4 accounting firm dive into omnichannel insurance game
June 11, 2018 by Greg MeckbachGoogle and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering…