Willis reports ‘relative slowdown’ in claims for International Group of Protection & Indemnity clubs
December 22, 2015 by Canadian UnderwriterThe International Group of Protection & Indemnity Clubs, which write liability insurance for ship owners, is “in the healthiest state in its history,” while the majority of its 13 members are planning to raise premiums 2.5% on renewal in 2016,…
Supreme Court of Canada to hear appeal from Nova Scotia auto claimant over deductibility of Canada Pension disability payments
December 17, 2015 by Canadian UnderwriterCanada’s highest court announced Thursday it will hear an appeal over the issue of whether future Canada Pension Plan disability payments are deductible from Nova Scotia auto claims paid under family protection endorsements. Andrew Sabean was injured in a vehicle…
Allianz Global Corporate & Specialty launches U.S. cyber unit
December 15, 2015 by Canadian UnderwriterOne year after Allianz Global Corporate & Specialty (AGCS) offered cyber security coverage in Canada, the specialist corporate insurer announced on Tuesday that it is launching a dedicated cyber unit in the United States as part of its Financial Lines…
The Measure of Adjusting
November 30, 2015 Craig Harris, Freelance WriterInsurance company claims departments are using a wide range of metrics to measure adjusting efficiency, such as shelf life, cycle time and service indexes. Independent adjusters are accustomed to being accountable for their work, time and professional expertise through ongoing measurements. But are these key performance indicators relevant to all aspects of the claims handling process? Are the metrics truly effective at improving claim resolution? And how can adjusters and claims managers agree on the measurements that matter most?
Message from the President
November 30, 2015 Fred Plant, President, Canadian Independent Adjusters' AssociationOurs is a noble profession and you should be proud of the important work you do everyday – delivering the product of the Property & Casualty Insurance Industry in Canada. One of the many benefits of being National President of…
Cyber Challenges
November 30, 2015 Anne Juntunen, associate, Halfnight McKinlayWhat recent American developments reveal about the potential future of cyber liability in Canada.
Tianjin explosions cost Berkshire Hathaway $130 million in reinsurance losses
November 9, 2015 by Canadian UnderwriterBerkshire Hathaway Inc. reported Friday its estimated losses from the Tianjin, China explosions last August were $130 million, though the Q3 underwriting gain for the Berkshire Hathaway Primary Group increased 31% year over year. “In the third quarter of 2015,…
Toronto Insurance Conference approaching IBAC on declaration of emergency endorsement
October 26, 2015 Greg Meckbach, Associate EditorAfter running into some “brick walls” on getting buy-in from Canadian insurers to include a declaration of emergency endorsement into their commercial property & casualty policies, the Toronto Insurance Conference is asking a former president to raise the issue with…
Cyber risk a moving target, customers see pre- and post-event services as key: AGCS
October 16, 2015 Angela Stelmakowich, EditorWith insurers and customers alike still not fully understanding cyber risk and how damaging it could prove, Paul Schiavone suggests pre- and post-event services associated with cyber policies are becoming increasingly important to customers. “Unlike other insurance products that we…
Federal investigator discusses Lac-Mgantic at Engineering Insurance Conference
October 9, 2015 Greg Meckbach, Associate EditorPollution problems resulting from the 2013 fatal railway derailment in Lac-Mégantic, Quebec will persist for years, while officials with the railway company involved were “not exactly leaders” in safety management, a Transportation Safety Board of Canada official suggested to insurance…
Co-Dependant
October 1, 2015 Timothy Zimmerman, Senior Manager, Litigation Accounting and Valuation Services, Collins Barrow Toronto LLPWhen it comes to business interruption co-insurance, there are a number of common mistakes that insurance professionals make. A clear understanding of co-insurance, a complex component of business interruption losses, is key to avoiding miscalculations that can have a significant impact on a claim for both the insurer and the policyholder.
Eye in the Sky
October 1, 2015 Angela Stelmakowich, EditorThe drones are coming! The drones are coming! Okay, but will anyone know how to insure them once they get wherever they are going? Everyone needs to take a breather – although not a long one – so that when…