What stopped this $800,000 subrogated pollution claim
February 4, 2019 by Greg MeckbachA subrogated claim could go off the rails if the client is bankrupt. The Supreme Court of Canada announced Thursday it will not hear a subrogation case involving Desjardins, which applied last year for leave to appeal Douglas v. Stan…
Estimated value of Economical’s demutualization for mutual policyholders
February 1, 2019 by Greg MeckbachMutual policyholders of Economical Insurance could get more than $300,000 each if the Waterloo-based insurer demutualizes. A conversion proposal that Economical submitted to the regulator last year calls for 20% of benefits going first to eligible mutual policyholders, of which…
Why being a broker is the best job ever
January 31, 2019 by Jason ContantThe feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal…
Client loses lawsuit arising from automatic policy renewal
January 31, 2019 by Greg MeckbachA motorcyclist who tried to sue his insurer for renewing his policy and deducting money from his account will not have his case heard before the Supreme Court of Canada. The top court announced Jan. 31 it has turned down…
What adjusters can learn from technology disruptors
January 29, 2019 by Greg MeckbachAdjusters who want to improve service for claimants could take a few pointers from companies outside the insurance industry. “When I look at customers today, their entire experience of how they want to be dealt with has been shaped outside…
Insurers disagree over meaning of ‘household’ in policy language
January 29, 2019 by Greg MeckbachA dispute over what exactly constitutes a “household” in a home insurance policy has reached the Court of Appeal for Ontario. Several members of the Weiner family were sued after a person drowned in 2010 in a vacation home on…
How many Ontario motorists got placed in the residual market
January 28, 2019 by Greg MeckbachThe number of Ontario auto policies in the residual market has increased by nearly a third in little more than a year, figures released to Canadian Underwriter show. Since the fall of 2017, there has been “some uptick” in the…
Flood risk guidance for commercial brokers coming soon
January 25, 2019 by Greg MeckbachA standard on flood resiliency for commercial real estate could be coming out this year. The Intact Centre for Climate Adaptation is working on a document intended to help commercial insurance brokers and real estate companies reduce flood risk for…
Your drunk client arrives home safely. Why your exposure does not end there
January 24, 2019 by Jason ContantSocial hosts owe a duty of care beyond the time when an intoxicated guest returns home safely, the Court of Appeal for Ontario has ruled in a recent decision. In more intimate settings, there is an enhanced risk, and therefore…
By how much did your clients’ auto rates increase last quarter?
January 24, 2019 by David GambrillOntario auto insurance rates increased by an average of 3.35% in the fourth quarter of 2018, with several companies receiving approval for double-digit rate increases, the province’s regulator reported. Overall, 23 insurers representing approximately 51% of the market based on…
Trial required to confirm insured’s cash payment to broker, court finds
January 23, 2019 by David GambrillA dispute between an auto insurance claimant and a carrier over whether or not the claimant paid her broker in cash to update an auto policy is a genuine matter for trial, an Ontario court has ruled. Marie-Therese Dakane brought…
Alberta insurance tech provider acquires Ontario specialty insurer
January 23, 2019 by David GambrillBesurance Corporation, a Calgary-based insurance and technology company, has agreed to acquire Fenchurch General Insurance Company, an Ontario-based specialty insurer that offers insurance programs across Canada. Specifically, Fenchurch provides programs in warranty, trucking, surety and accident and sickness. Its products…