How blockchain can help fight insurance fraud
September 24, 2018 by Jason ContantBlockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten…
Third spill of sulphuric acid reported in Trail, B.C.
September 24, 2018 The Canadian PressTRAIL, B.C. – The movement of sulphuric acid by truck through a southeastern British Columbia city has been halted while officials try to determine why there has been a third leak of the corrosive liquid in less than six months.…
The Co-operators launches digital brand, new product
September 20, 2018 by Jason ContantThe Co-operators new digital insurance brand, duuo by co-operators, has launched its first product – on-demand, pay-per-use insurance for homesharing hosts. Guelph, Ont.-based Co-operators launched the product Tuesday, two months after the insurer said it was partnering with New York…
Expanded coverage for landlords’ risks
September 18, 2018 by Jason ContantManaging general agent APRIL Canada announced Tuesday it has launched what it is calling the “only” unpaid rents and damage insurance for landlords in Ontario and Quebec. Historically, these two risks are not addressed by current insurance offerings, as insurers…
Alberta farmers feel effects of B.C. wildfires, late-summer snowfall
September 18, 2018 Aleksandra Sagan - THE CANADIAN PRESSSome Alberta farmers are concerned about their crops after a late-summer snowfall blanketed parts of the province, with more flurries expected in the forecast. Early season snow can squash crops that grow upright, like wheat and barley, make them harder…
Risk appetite for marijuana ‘all over the map’
September 17, 2018 by Greg MeckbachSome insurance companies “want no part” of covering risks related to cannabis in Canada, an industry analyst warns. As of Oct. 17, it will be legal in Canada for adults to possess up to 30 grams of dried cannabis for…
Liability risks from fuel storage tanks
September 14, 2018 by Greg MeckbachClients who make tanks for flammable and hazardous material cannot always obtain insurance covering the full range of product and pollution liability. Matrix Service Company, whose products include above-ground fuel tanks, said Wednesday its products can potentially expose it to…
New bespoke commercial package covers 7 industry segments
September 13, 2018 by Jason ContantCommercial insurance clients in multiple industry segments can now receive tailored core coverages under a single package solution. Core coverages include first and third party cyber, D&O liability, media management crisis costs, event cancellation and currency devaluation. Tailored for seven specific…
Three product ingredients that could cause large claims
September 13, 2018 by Greg MeckbachIf your client makes or supplies beauty care products, they could face bodily injury lawsuits if certain chemicals are present. The “toxic trio” – dibutyl phthalate (DBP), toluene and formaldehyde – are contained in some nail varnishes, body lotions, fragrances…
The public’s view on minor injury caps in this province
September 13, 2018 by Jason ContantNearly seven in 10 people polled in Newfoundland and Labrador support a cap on auto insurance payouts for minor injuries, Insurance Bureau of Canada (IBC) revealed in a new study. This week, IBC released the results of a public opinion…
This storm preparation tip is a myth
September 12, 2018 by Greg MeckbachAs Newfoundland gets hit by the remnants of Tropical Storm Gordon and Hurricane Florence threatens the Carolinas, brokers can make a difference in advising homeowners what not to do as nasty weather approaches. “In Canada, there are not many hurricane-type…
How to limit autonomous vehicle liability disputes
September 11, 2018 by Jason ContantLegislation on autonomous vehicles needs to be ironed out well in advance of these vehicles becoming mainstream to prevent insurance payout disputes before an injured party receives compensation, an insurance lawyer said recently. Jonathan Grnak, an insurance lawyer with Danson…