Soft Landing
March 1, 2014 Rohan Dixon, Chief Broking Officer, Aon Risk SolutionsUnderstanding and managing operational risks will be key to success in 2014, suggests a new outlook from Aon Risk Solutions. Organizations are advised to test the strength of their existing programs and develop risk management practices to lower their total cost of risk.
Top 10 Insurance Decisions
January 31, 2014 Chris Dunn, partner, Dutton Brock LLP; and Josiah MacQuarrie, associate, Dutton Brock LLPSome of the coverage-related cases that adjusters and claims professionals should know about from 2013.
Settlement Privilege
January 31, 2014 Albert Wallrap, associate, Dutton Brock LLPUnderstanding the latest developments in settlement opportunities may reduce the costs and delays of litigation for adjusters and their clients.
Property Loss Trends
January 31, 2014 Glenn Gibson, Chief Executive Officer, Crawford & Company Consulting (Canada) and President, business operations, Hamilton Tiger-Cats.An expert adjuster, who has taken on a surprising new role, highlights some important property cases.
Wild Ride
January 1, 2014 Angela Stelmakowich, EditorSevere weather – be it wind, rain or hail – will again be a focus in 2014. Will related claims make for a wild ride, leaving adjusters and insurers bruised, but not out, like during a tumultuous 2013? Or will calmer conditions prevail, allowing insurance partners to hang tight and get themselves prepared for the next rough year?
Personal Liability
January 1, 2014 by Canadian UnderwriterA recent case out of Ontario serves as a cautionary tale for directors’ and officers’ environmental liability. It signals the willingness of regulators to seek out all potentially responsible parties to recover the costs of remediation, which could include ordering directors and officers to personally cover interim remediation costs pending the outcome of any regulatory or court proceedings.
External Considerations
January 1, 2014 Michael Teitelbaum, Partner, Hughes AmysOntario’s Divisional Court has determined the precise cause of damage arising from a fortuitous event is not required for recovery under an all-risks insurance policy. As such, the ruling proposes that a much lower threshold is required to establish coverage under these policies.
Costly Recalls
December 1, 2013 Nicky Alexandru, VP, Crisis Management, Global Casualty, American International Group (AIG)Product recalls are rapidly becoming a common occurrence in the food and beverage industry. As international supply chains continue to expand in complexity, so do risk exposures, increasing the likelihood of a product contamination.
Off Track
December 1, 2013 Greg Meckbach, Associate EditorWhether or not federally regulated railway operators should have a specific dollar value of liability insurance limits are among the issues now being explored as part of a public consultation. Stakeholders are also being asked if railway companies should be required to notify their insurer of changes that could mean coverage is no longer adequate.
60 Years of Representation
November 30, 2013 Craig HarrisThe Canadian Independent Adjusters’ Association is celebrating its 60th anniversary this year as the profession’s singular voice of advocacy, education and membership. Evolving from an elite conference of like-minded independent adjusters in the 1950s to mid-1980s to a truly national association in the modern era, CIAA has seen its share of changes – yet many of its goals have stayed the same. We take a brief look at the history of the association, share some observations from past presidents and, perhaps most importantly, glimpse into where CIAA is headed in the future.
Maturing Process
October 1, 2013 Sharon Ludlow, President and CEO, Swiss Re CanadaThe staggering insurance losses following Hurricane Andrew not only served as a wake-up call for the industry, but the resulting scarcity of traditional coverage prompted the market to innovate and seek alternative sources of capacity. The response included insurance-linked securities, a market that has matured and witnessed significant growth in recent years.
Clear Language Essential
October 1, 2013 Michael S. Teitelbaum, Partner, Hughes Amys LLP, and Victoria Margolin, Lawyer, Hughes Amys LLPA recent case out of Ontario, involving the duty of a homeowners’ insurer to defend a contribution claim, illustrates the importance of carefully selecting the language used in insurance policies to make clear what is included and/or excluded. The alternative may be interpretation by the courts to the best of their abilities.