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Why your clients may not be covered when there’s an active wildfire

May 21, 2019 by Jason Contant

With wildfire season already underway in Alberta and British Columbia, brokers will be looking at how insurance can help their clients mitigate any losses. But brokers and clients alike may not know that the ability to bind coverage could be

News AppointmentsInsurance

Fairfax chief financial officer died suddenly

May 21, 2019 by Greg Meckbach

David Bonham, chief financial officer of Fairfax Financial Holdings Ltd., died suddenly this past weekend, the Toronto-based company announced Tuesday. Fairfax is the corporate owner of Northbridge Insurance and several international property and casualty insurers, including OdysseyRe, Brit PLC, Allied

News InsurancePaid

Paid IoT Solutions and Claims Reductions

May 17, 2019 Eddy Solutions

At just after 10 am on an average Thursday morning, a 20-floor apartment building in downtown Toronto experienced a leak in their riser stack between the 5th and 6th floor. The leak was detected by an IoT sensor system, which

News InsuranceLegal

How Intact lost this battle over vehicle storage fees

May 16, 2019 by Greg Meckbach

Canada’s largest P&C insurer has suffered a setback in its quest to minimize vehicle storage fees. A recent Ontario court ruling means that, for the time being, Intact Insurance has to pay J.P. Towing Service & Storage Limited storage fees

News InsuranceProductsTechnology

Allstate Canada debuts telematics app

May 16, 2019 by Jason Contant

Allstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other

News BrokersInsuranceTechnology

Why digital transformation gives brokers the edge over directs

May 14, 2019 by David Gambrill

It’s a common misperception that large direct insurance companies have lots of money to invest in the best, most innovative technology, creating a divide between them and smaller, “have not” brokerages. But digital transformation is actually levelling the playing field

News Insurance

CU Total Loss Series: Where are the bottlenecks?

May 13, 2019 by David Gambrill

Total Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total

News Earnings / RatingsInsurance

How Fairfax’s Allied World acquisition is working out

May 10, 2019 by Greg Meckbach

Old medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based

News BrokersInsuranceLegislation / RegulationTechnology

ICBC plants seed for online auto renewals

May 8, 2019 by Adam Malik

A day many British Columbia policyholders have been calling for finally appears to be on the horizon. But it may force some brokers to change how they do business. While hosting an AMA (ask me anything) session on popular social

News EngineeringTechnology

How kitty litter can impact insured property losses

May 8, 2019 by Greg Meckbach

While spring rains and thawing have caused overland flooding of Biblical proportions, drain backups are also the bane of some insurers’ existence. In multi-storey commercial and residential buildings, drain backups are the number one cause of damage, said Adam Bartman,

News ClaimsInsuranceMarkets / Coverages

Is sinkhole damage covered under a standard home insurance policy?

May 7, 2019 by Jason Contant

Editor’s Note: This story has been edited to include additional comments.   Is damage from a sinkhole covered under a standard homeowner’s policy? “Earth movement” is typically excluded under a standard policy, but an earthquake endorsement may provide coverage. The

News Appointments

Former Economical Insurance CEO joins another board

May 7, 2019 by Greg Meckbach

Karen Gavan, former CEO of the first Canadian property and casualty insurer to start the demutualization process, is now on the board of directors of HSBC Canada. Gavan (pictured) was CEO of Waterloo, Ont.-based Economical Insurance from 2011 through 2016.