Condo flooding liability 101
April 18, 2019 by David GambrillYou are the owner of a condo unit. The toilet in the condo unit above you overflows, causing water damage to your ceiling and floor. No, your upstairs neighbour does not have to reimburse you for your $1,000 insurance policy…
Beware of cumulative dangers of change, insurer CEO says
April 17, 2019 by Jason ContantChange can be a “wonderful thing,” but organizations must be aware of its cumulative impact, the president and CEO of CNA Canada said last week at the CIP Society Symposium’s Up Close and Personal session. Imagine an insurance company that…
How insurers can turn their salvage into social purpose
April 17, 2019 by Jason ContantIf your client has filed a claim after experiencing a major event like a flood or fire, it’s likely that contractors have removed salvageable materials that are still usable. For example, in the event of a kitchen flood, contractors may…
CU Total Loss Series: To repair, or not to repair?
April 17, 2019 by David GambrillTotal Loss Series, Part 1: Cycle Times 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…
This little piggie caused a $24-million subrogated claim
April 16, 2019 by Greg MeckbachA $24.3-million lawsuit by an oil and gas company against a contractor over an accident that spilled 60 cubic metres of oil is one of Canada’s largest-ever subrogated claims, a lawyer for the plaintiff says. In ISH Energy Ltd v…
Credential stuffing: Canada’s newest cyber threat
April 15, 2019 by Jason ContantA new cyber threat called “credential stuffing” is emerging, and Canada is the third-most targeted country in the world, according to a new report. Credential stuffing is when hackers take a stolen username and password and then run it through…
Owner of deliberately burned Manitoba store ordered to repay
April 12, 2019 THE CANADIAN PRESSWINNIPEG – A judge has ruled a fire that destroyed a hardware store in the western Manitoba town of Neepawa more than four years ago was deliberately set. The decision follows a lawsuit filed by the owner of the Home…
How the industry is tackling insurance fraud
April 12, 2019 by Jason ContantInsurers need to work with regulators and other carriers to help fight the growing problem of insurance fraud, industry professionals say. Industry statistics show that insurance fraud costs $1.6 billion each year in Ontario alone. “As government reflects on the…
Do your cyber clients have buyer’s remorse?
April 11, 2019 by Jason ContantAre you spending a lot of time dealing with “coverage leakage” and buyer’s remorse as it relates to cyber insurance? For smaller claims in particular, some clients may not have a cyber policy, but may try to recover out-of-pocket costs…
How this dry cleaner got sued over 50-year-old pollution
April 11, 2019 by Greg MeckbachAn Ottawa dry cleaner is liable for nearly $2 million in environmental clean-up costs resulting from spills that occurred at least 45 years ago, as a result of a Supreme Court of Canada ruling released Thursday. The top court’s ruling…
Why brokers need to take ownership of data
April 11, 2019 by Jason ContantBrokers need to take ownership of the data they collect to personalize and improve the customer experience, a speaker suggested Tuesday at the CIP Symposium in downtown Toronto. “For the brokers in the room, how does your client feel if…
Applied Systems acquires TechCanary
April 10, 2019 by Jason ContantBroker management system provider Applied Systems announced Wednesday it has acquired TechCanary. TechCanary is a cloud-based insurance customer relationship management (CRM) system built natively on the Salesforce.com platform for brokerages, managing general agencies (MGA), wholesalers and insurers. Details of the…