Homeowner loses case arising from power surge
January 7, 2019 by Greg MeckbachA British Columbia homeowner who suffered property damage due to an electrical power surge cannot claim damages from the city, the Civil Resolution Tribunal has ruled. In January, 2016, a City of Salmon Arm snowplow hit a power pole, resulting…
Marriott data breach could cost over $200 million: AIR
December 20, 2018 by Greg MeckbachThe hacking of a hotel reservation system affecting Sheraton, Westin, Starwood and Marriott could cost up to $600 million for direct losses alone, AIR Worldwide said this week. AIR, a subsidiary of Verisk Analytics Inc. that produces catastrophe loss models,…
Insurance hard to obtain for this food processor
December 20, 2018 by Greg MeckbachProduct liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The…
Focusing on sales may be hindering your social media strategy
December 16, 2018 by David GambrillMost brokers see social media as a way to increase sales and generate leads, according to a new study by Aviva Canada, but social media are more effective for brand awareness, building an online community and retaining customers, according to…
Not all Ontario schools follow this cyber security rule
December 14, 2018 by Greg MeckbachSome former school board employees can still look at children’s records – including address and date of birth – over the Internet because their access to this system has not been revoked, the Auditor General of Ontario suggested in a…
How costly is the fire peril for Canadian insurers?
December 13, 2018 by Jason ContantThe traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed…
Is 2019 the year of hyper-personalized, omnichannel insurance in Canada?
December 12, 2018 by Jason ContantMeeting consumers where they already are by moving towards an omnichannel strategy is one of the trends that will reshape the Canadian insurance industry in 2019, a market intelligence agency predicts. The application programming interface (API) mindset and integrated omnichannel…
This commercial line could see $24 million revenue increase
December 12, 2018 by Greg MeckbachFederal regulations requiring liability insurance for boats that carry passengers take effect Jan. 11, Transport Minister Marc Garneau announced Wednesday. It is estimated the industry will make $24.8 million more, over 10 years, than it otherwise would have, the federal…
Cyber risk concerns behind this consumer protection law
December 11, 2018 by Greg MeckbachIdentity theft risk increases when banks release customer information to government agencies doing research, an Ontario politician suggests. “The more information flows around, the more likely there is to be a hacking. It’s just like the more you are driving…
Does CGL’s duty to defend apply to the insurance policy as a whole?
December 10, 2018 by Jason ContantAn insurer’s duty to defend under a provision in a commercial general liability (CGL) form is applicable to the insurance policy as a whole, the Court of Queen’s Bench of Alberta has ruled. In a decision released Friday, the court…
Saskatchewan approves ride hailing rules
December 7, 2018 Ryan McKenna - THE CANADIAN PRESSREGINA – Saskatchewan has approved ride-hailing regulations but it could be a while before companies and drivers hit the road in the province’s two biggest cities. Rules are to take effect on Dec. 14 but the minister responsible for Saskatchewan…
Insurer pushing for new auto fraud laws
December 5, 2018 by Greg MeckbachA major insurer is calling for new laws prohibiting various forms of auto insurance fraud in Ontario. “As an industry we need a new set of provincial offences that will allow for the efficient and effective prosecution of fraud,” said…