How an insurtech uses pre-fill data to a homeowner’s best advantage
June 6, 2019 by Jason ContantOne insurtech based in the United States is pre-filling data in home insurance application forms to help answer questions that customers may not be able to answer themselves. California-based home insurance company Hippo Insurance uses trusted public data sources like…
This commercial line could get a lot more exciting soon
June 4, 2019 by Jason ContantThe Canadian marine insurance market could get a lot more interesting in the next year-and-a-half as major infrastructure projects get underway. “There are more large infrastructure projects on the drawing board and it could be a very interesting 18 months…
When ‘residence employee’ is key in home insurance wording
June 3, 2019 by Greg MeckbachA coverage dispute, arising from severe electric shock injuries to a baby in a rented house, shows disagreement over the exact meaning of “residence employee” in a home insurance policy. Doris Wong and her brother Johnny Wong were sued in…
Brokerage fined for rebating premium to unhappy client
June 3, 2019 by David GambrillA Manitoba brokerage recently found itself in hot water with the regulator for rebating premium money to a dissatisfied client. Insurance Council of Manitoba ruled that Donbar Agency Limited, which operates as Crossroads Insurance, should not have rebated an unhappy…
Brokers concerned about blanket approach to binding authority restrictions
May 31, 2019 by Jason ContantWith wildfires raging in northern Alberta and Ontario, brokers are reporting some funky outcomes associated with insurers’ binding authority restrictions. Under the restrictions, brokers cannot bind coverage in areas under civil authority, forest fire alerts, flood alerts and certain earthquake…
Why cyber insurers can expect to make more (and bigger) claims payments
May 29, 2019 by Jason ContantNot only is the frequency of ransomware attacks skyrocketing, attackers are targeting larger organizations and demanding higher ransom payments. Specialist insurer Beazley released its Beazley Breach Insights report for May last week, finding that ransomware attack notifications against clients increased…
Pressure builds to end auto insurance monopoly
May 28, 2019 by Adam MalikCalls to end a provincial stranglehold on auto insurance are growing as business groups, municipalities and the Insurance Bureau of Canada (IBC) have taken up the cause. ICBC, on the other hand, is saying the high claims costs the public…
New COO, EVP for Totten
May 28, 2019 by Jason ContantPaul Meinschenk has joined managing general agency (MGA) Totten Insurance Group as chief operating officer and executive vice president, effective May 31. With 18 years of experience in the insurance industry, Meinschenk was mostly recently vice president of sales and…
Does an earthquake endorsement cover sinkhole damage?
May 28, 2019 by Jason ContantIf a home collapses into a sinkhole, is there coverage under a standard homeowner’s policy or earthquake endorsement? Not under many homeowner’s policies, but possibly under the earthquake endorsement, depending on the policy language and if the quake caused the…
This ‘leading practitioner’ in insurance law is now a judge
May 27, 2019 by Greg MeckbachCORRECTION NOTICE: In an earlier version of this story, Glen L.C. Noel was incorrectly identified as a lawyer representing Lloyd’s in Lawlor v. Royal. In fact, Noel represented Mary Lawlor in that case. Canadian Underwriter regrets the error. Glen L.C.…
Why off-road vehicles could get more mileage in Ontario
May 27, 2019 by Greg MeckbachIf you insure off-road vehicles in Ontario, some of those machines could soon be driven more frequently on the road. Bill 107, which would ease restrictions on driving off-road vehicles on municipal roads, passed second reading and was referred Tuesday…
Aviva loses $7-million coverage dispute over sexual abuse liability
May 23, 2019 by Greg MeckbachCanada’s top court said today it will not hear an appeal from Aviva Canada of a ruling in favour of a New Brunswick church diocese. L’Évêque catholique romain de Bathurst, a diocese that oversees Roman Catholic parishes in the northeastern…