There is no getting around it: claims adjusters will encounter difficult and demanding claimants. But when a claimant grows unreasonable and combative, demanding too much, what is the best course of action for an adjuster wanting to advance a truly fair settlement and meet fiduciary duties to his or her employer?
Directors and officers at Canada’s publicly listed companies face personal liability as a result of unfolding trends related to securities, environmental and cyber issues. But a well-conceived mix of risk management processes and risk transfer tools can help protect both companies and their directors and officers.
A 2012 report from RIMS, the risk management society, notes that “while nothing is more abundant than data, nothing is more uncertain than the security of that data.” Three years on and concerns around the rapid acceleration in the number and types of attacks has grown even more pressing.
The notion that insurers can better control their claims/indemnity spend through streamlining, cost cutting and efficiency initiatives has gained momentum in Canada in recent years. Many insurance companies are finding ways to plug financial “leakage” in claims handling – a term not always popular with claims managers. Independent adjusters understand the reasons behind this focus on costs, but caution that a proper approach to claims adjudication should prevail.
Pollution resulting from fire is not necessarily subject to insurance exclusion, says B.C. Court.
With the growth in oil traffic activity, environmental risks at ports and terminals are also on the rise. That said, a solid understanding of current conditions and potential risks can help with identifying what insurance solutions will help address and minimize any related loss.
1 Swiss Re Canada welcomed its new president and chief executive officer, Veronica Scotti [1a], effective April 1. Scotti most recently served as Swiss Re’s client executive, based in Armonk, New York, and will now work out of Toronto, the reinsurer…
As Ottawa plans to increase the absolute liability on Canadian nuclear operators from $75 million to $1 billion, the association writing most of the coverage for operators is looking to deepen the pool by attracting new insurers in anticipation of more required capacity by the end of 2015.
A review of the ten most important insurance coverage cases of 2014.
Talk of “claims transformation” in the property and casualty insurance industry is hardly new. Talk has already turned to action for some, businesses that have updated people, process and technology to answer the evolving and inevitable demands being fuelled by customer experience. However, is transformation now a business imperative to be relevant in the future?
Insurers in Alberta and British Columbia are obligated to provide notice of limitation periods to claimants. But a recent ruling out of Alberta makes reasonably clear that insurers in the province are not under an obligation to provide notice of limitation periods for claims with which they became aware prior to July 2012.
A ruling last fall by Ontario’s Superior Court of Justice, revolving around a personal injury claim, clearly demonstrates that making a determination with respect to costs before trial is not only difficult, it could prove both an expensive and risky proposition.