Why a home insurer is paying for a workplace injury
January 12, 2018 by Greg MeckbachIntact is on the hook for legal costs to settle a personal injury lawsuit against a business executive whose friend was injured at a workplace after hours. Intact provided liability coverage under a homeowner policy. The company unsuccessfully argued before…
Why you’re not seeing as many carrier acquisitions as expected
January 5, 2018 by Jason ContantThe lack of “domestically sizeable targets” coming to market is one factor contributing to a less-than-expected number of acquisitions for Canadian carriers, an industry analyst says. And whenever a sizeable acquisition opportunity does arise, there is heated competition among multiple…
Court clarifies confusion around “involvement” of unidentified car
December 15, 2017 David Gambrill, Editor-in-ChiefOntario’s Court of Appeal has rejected a claim for excess coverage against State Farm Mutual Insurance Company, reconciling a jury’s seemingly contradictory answers to questions about the “involvement” of an unidentified driver. Carlota Montepeque was driving two passengers in her…
Looking Under the Hood
December 15, 2017 Emily Atkins, EditorOntario’s mandatory auto insurance system needs more than a tune-up
Lessons for Canadians from California wildfires
December 13, 2017 Greg Meckbach, Associate EditorRecent record wildfire losses in California serve as a reminder to Canadians that certain buildings separated from the woods can still burn down, a Canadian disaster prevention research executive suggests. Losses from the California wildfires, in excess of $10 billion,…
A researcher’s take on ICBC’s low customer satisfaction scores
December 1, 2017 Greg Meckbach, Associate EditorBritish Columbia’s monopoly auto insurer has little incentive to improve customer satisfaction, and an opposition party member is slamming the ruling New Democratic Party for not implementing recommendations made in July immediately after taking power. Insurance Corporation of British Columbia…
Deductibility of CPP disability benefits in personal injury claims
November 17, 2017 Cheryl A. CanningIn personal injury claims involving lost income, it is very common for plaintiffs to have received income from various sources while unable to work, including Canada Pension Plan Disability Benefits (“CPP”). The question of whether the tortfeasor or insurer may…
Judge denies separate housework award in auto injury lawsuit
November 15, 2017 by Canadian UnderwriterA claim for interference with homemaking capability “must be scrutinized carefully” in an auto personal injury lawsuit, a British Columbia judge suggested in a recent ruling that cites an earlier Court of Appeal for Ontario ruling. In a ruling released…
North American commercial insurance buyers likely to face rate increases in 2018: Willis Towers Watson
November 7, 2017 by Canadian UnderwriterCommercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers…
Commercial premiums down 13% for AIG
November 3, 2017 by Canadian UnderwriterAmerican International Group Inc. announced Thursday its combined ratio in commercial insurance was 195.4% in the three months ending Sept. 30, up 89.6 points from 105.8% in Q3 2016. New York City-based AIG confirmed Thursday an earlier-released estimate, of $3…
Q3 reinsurance loss ratio up 56.5 points for Arch Capital
November 2, 2017 by Canadian UnderwriterAfter estimating it could lose nearly $320 million due to natural catastrophes including major North Atlantic hurricanes in the three months ending September 30, Arch Capital Group Ltd. has reported its combined ratio in reinsurance deteriorated 51.5 points, from 75.9%…
Transition of RSA Canada’s surety business to Trisura expected by year-end
November 1, 2017 Jason Contant, Online EditorThe management teams of both Trisura and RSA Canada continue to work closely together to ensure a smooth transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company. “Our primary objective is to ensure minimal…