Judge questions wildfire mitigation plan
February 14, 2019 Sudhin Thanawala - THE ASSOCIATED PRESSSAN FRANCISCO – A U.S. judge who has berated Pacific Gas & Electric Corp. for its role in California wildfires demanded Thursday that the utility answer more questions about its efforts to clear trees and branches that can fall on…
The type of claims that may arise from legalization of cannabis edibles
February 14, 2019 by Jason ContantWith the upcoming legalization of edibles containing cannabis this October, Canadian claims adjusters may see more indirect injury loss and damage claims, suggests a lawyer with Field Law in Calgary. Compared to regular smoked marijuana, edibles have a more delayed…
A driver is convicted of assault after a collision. Is the vehicle’s owner vicariously liable for the crash?
February 13, 2019 by Greg MeckbachThe registered owner of a pickup truck could be held liable for injuries to an accident victim even though the at-fault driver of the pickup truck was convicted of assault as a result of a collision, the Court of Appeal…
Intact’s guesstimate of auto profitability improvement required by the industry
February 12, 2019 by Greg MeckbachThe Canadian auto insurance industry needs to improve its profitability by about 10 percentage points, executives with Canada’s largest property and casualty insurer suggest. Canada-wide and industry wide, personal lines auto has a loss ratio of about 75%, said Darren…
Why your clients will buy insurance only after a disaster
February 12, 2019 by Jason ContantDue to six decision biases, consumers will typically not protect themselves against low-probability, high-consequence events until it is too late, a keynote speaker said recently at the CatIQ Connect conference in Toronto. When consumers decide not to purchase insurance or…
Lawsuit over flooding, catch-basin access could reach Supreme Court
February 11, 2019 by Greg MeckbachA property owner who was sued for more than $100,000 over laneway flooding is hoping to appeal to the Supreme Court of Canada. Marilyn Marks owns commercial property in the community of Tottenham, Ont., about 40 kilometres north of Toronto…
B.C. limits court experts in auto insurance to spur early settlements, savings
February 11, 2019 THE CANADIAN PRESSVICTORIA – The British Columbia government is clamping down on the use of experts to cut costs and reduce delays in settling claims in motor vehicle accidents. Attorney General David Eby says the changes to B.C. Supreme Court civil rules…
Common misconceptions about business interruption insurance
February 8, 2019 by Jason ContantOne strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife…
The aftermath of ‘firm action’ in Lloyd’s market
February 8, 2019 by Greg MeckbachEight Lloyds syndicates have closed and some clients insured by the London market are seeing premiums increase four-fold, the head of a major Bermuda insurer suggests. “After some firm action by Lloyd’s in (2018), we saw the closure of eight…
Executive challenges brokers regarding earthquake take-up rates in Quebec
February 8, 2019 by Jason ContantSparks flew during a recent conference discussion about mortgage impairment and earthquake loss, when a senior reinsurance company executive drew a link between the practices of Quebec brokers and the low take-up rates of earthquake insurance in the province. Philipp…
B.C. auto insurer heading for billion dollar loss
February 8, 2019 THE CANADIAN PRESSVICTORIA – British Columbia’s attorney general says the financial situation with the province’s public auto insurance agency is critical and getting worse. David Eby says the Insurance Corporation of B.C. lost $860 million for the first nine months of its…
What the industry learned from the costliest catastrophe of 2018
February 7, 2019 by Jason ContantThe sheer volume of claims following the windstorm that swept through southern Ontario and Quebec last May led to critical service disruptions, after so many consumers called at once to report their claims to their insurers. “I’m not sure people…