Why brokers hail the D/X Initiative as “the start of the revolution”
February 7, 2019 by David GambrillA “watershed moment” of industry cooperation could lead in April to what brokers are heralding as the most significant technology breakthrough in broker-carrier connectivity in decades. Representatives of every broker association across the country met in Toronto on Jan. 29,…
Two weird things about the 2018 catastrophe season
February 7, 2019 by Jason ContantThe Canadian insurance industry saw a bit of an unusual catastrophe season last year, with more cats in the second quarter than the third, and Ontario beating out Alberta for insured losses. There were a total of 12 catastrophes last…
Top court won’t hear appeal of controversial waiver decision
February 7, 2019 by Greg MeckbachA 2018 Court of Appeal for Ontario ruling on waivers, described as “great news” for liability insurers, is now final. The Supreme Court of Canada announced Thursday it will not hear an appeal of Schnarr v. Blue Mountain Resorts Limited,…
Freight train involved in fatal derailment started on its own: TSB
February 6, 2019 Lauren Krugel - THE CANADIAN PRESSCALGARY – A Canadian Pacific freight train parked on a frigid night in the Rocky Mountains began to move on its own before a derailment that killed three workers and sent 99 grain cars and two locomotives hurling off the…
Has Intact noticed the impact of pot legalization on auto claims?
February 6, 2019 by Greg MeckbachRecreational cannabis has been legal for nearly four months, but it’s too early for Canada’s largest property and casualty insurer to tell whether it’s having an impact on auto claims frequency. Senior managers with Intact Financial Corp. were asked Wednesday…
Aviva rolls out automated claim notification at collision reporting centres
February 5, 2019 by Greg MeckbachMotorists insured by Aviva Canada will no longer have to make their own first notice of loss (FNOL) to the carrier if they report the accident to a collision reporting centre. This is because Aviva Canada is rolling out an…
Broker lands in hot water after BI coverage miscue
February 5, 2019 by David GambrillA Manitoba broker landed in hot water after filling in for a vacationing colleague whose commercial client wound up without business interruption coverage. Broker John C. McDonald was fined $250 for his role in the coverage mix-up. When McDonald’s work…
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…
Fate of this province’s auto reform now in the hands of politicians
February 1, 2019 by David GambrillNewfoundland’s auto insurance regulator, the Public Utilities Board (PUB), has tabled a thorough, 186-page report on what ails the province’s auto insurance system – with no recommendations to fix it. The chair of the PUB told the hearings held on…
One way of devaluing cyber attacks
February 1, 2019 by Jason ContantFinancial institutions looking to verify online users should use “security layers” to help devalue attacks to extract data from legitimate consumers, a Vancouver-based security company recommends. For insurers and banks, security layers with behavioural analytics and passive biometrics can allow…
Why the cyber market has become so crowded
January 31, 2019 by Greg MeckbachClients shopping for cyber insurance today can choose from among far more carriers than they could a few years ago, because it’s such a profitable line of business. However, one reason cyber is more profitable than other lines of coverage…
Private flood insurance cited in new emergency management plan
January 28, 2019 by Jason ContantFederal, provincial and territorial (FPT) governments could “engage the private sector to develop an affordable private flood insurance model for the entire population, including clear incentives for mitigation of flood risks,” says a newly released emergency management strategy. Ministers have…