Aviva considers appeal in $3.4-million sexual abuse claims dispute
October 22, 2018 by Greg MeckbachAviva Canada is considering whether to seek leave to appeal to the Supreme Court of Canada after the New Brunswick Court of Appeal ruled last week that the insurer must pay a Catholic diocese about $3.4 million towards costs of…
The Co-operators acquires personal and commercial lines brokerage in Quebec
October 3, 2018 by Jason ContantThe Co-operators has acquired Robert Poirier & Associés, Courtier d’assurance inc. (Assurance Robert Poirier), a personal and commercial lines brokerage in Gatineau, Que. Guelph, Ont.-based The Co-operators has seen steady growth in Quebec over the past several years, and acquiring…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
Economical wins insurance technology award for Vyne platform
September 26, 2018 by Jason ContantEconomical Insurance has won Insurance Nexus’ Canadian Insurance Carrier of the Year 2018 award for its Guidewire-based computer system Vyne. The carrier of the year award recognizes the insurer who has made the biggest advances in implementing analytics and artificial…
Why cyber can be a hard sell for brokers
September 24, 2018 by Greg MeckbachData breaches are all over the news, but convincing some corporate clients to spend in the neighbourhood of $1,000 a year for insurance coverage can be an uphill battle. Some cyber insurance products cost around $100 a year, but those…
Is technology creating an ‘underwriter in a box’?
September 22, 2018 by Jason ContantWe often hear how the property and casualty insurance industry is slow to adopt technology, but is it possible the industry is actually becoming overly reliant on technology? Yes, said Neil Mitchell, CEO of Player’s Health Cover and former managing…
Insurer restricts trampoline insurance coverage after serious injuries
September 21, 2018 by Jason ContantIncreased losses due to significant trampoline injuries has resulted in restrictions on insurance coverage in Alberta. The Alberta Gymnastics Federation (AGF) provided an update on its trampoline coverage on Sept. 7. Due to a recent limitation endorsement, coverage is restricted…
How basement flooding devalued this property
September 17, 2018 by Greg MeckbachRecurring basement flooding means a homeowner’s property is worth about $35,000 less than it would otherwise be valued at for tax purposes, says an official from the board that hears Ontario property tax appeals. Sharon Latta owns a home near…
Risk appetite for marijuana ‘all over the map’
September 17, 2018 by Greg MeckbachSome insurance companies “want no part” of covering risks related to cannabis in Canada, an industry analyst warns. As of Oct. 17, it will be legal in Canada for adults to possess up to 30 grams of dried cannabis for…
Insurer receives 3,000 vehicle damage claims after two sulphuric acid spills
September 16, 2018 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) has received more than 3,000 claims from two sulphuric acid spills in April and May, the public insurer said Wednesday. The Canadian Press reported mining company Teck Resources as saying two spills of…
Liability risks from fuel storage tanks
September 14, 2018 by Greg MeckbachClients who make tanks for flammable and hazardous material cannot always obtain insurance covering the full range of product and pollution liability. Matrix Service Company, whose products include above-ground fuel tanks, said Wednesday its products can potentially expose it to…
Top 3 measures to mitigate home flood risk
September 7, 2018 by Greg MeckbachYour book of business could have lower water losses if you give homeowner clients just three pieces of advice. First, homeowners should figure out whether their home actually has a backwater valve, said Cheryl Evans, director of the home flood…