ClaimsPro prepares dedicated adjuster team for marijuana legalization
June 22, 2018 by Jason ContantIndependent adjusting company ClaimsPro announced this week that it has prepared a dedicated adjuster team for the cannabis industry, just as Canada moves to legalize marijuana in October. The team will exclusively handle first- and third-party cannabis claims, such as…
Is the slow pace of regulatory change putting the industry at risk?
June 19, 2018 by Jason ContantThe insurance industry is at risk if regulators don’t recognize that consumer expectations are changing and allow consumers the choice of receiving their policy documents electronically, the president and chief executive officer of the Centre for Study of Insurance Operations…
Chris Giffin sells interest in 30 Forensic Engineering, stepping down as CEO
June 18, 2018 by Jason Contant30 Forensic Engineering’s senior leadership team has acquired the firm, the company formerly known as Giffin Koerth announced Monday. As part of the “evolution and growth strategy of the organization,” founding partner Chris Giffin has agreed to sell his interest in…
Quebec places number on brokerage distribution agreements with insurers
June 18, 2018 by Jason ContantThe Quebec National Assembly has adopted Bill 141, which will require brokerages in the province to have at least three distribution agreements in place for personal lines with insurers “that are not in the same financial group.” Hypothetically, brokerages could…
Is investing in AI worth it for Canadian insurance carriers?
June 12, 2018 by Jason ContantWhile the vast majority (94%) of Canadian insurance professionals surveyed believe that artificial intelligence (AI) will transform the insurance industry, the jury is still out on whether carriers are receiving a return on investment from analytics yet. Insurance Nexus released…
How fast are standalone cyber premiums growing in Canada?
June 11, 2018 by Jason ContantStandalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,…
Rise of the Machines
June 11, 2018 Mazen Habash, president and consulting forensic engineer, Origin and CauseAppliance Fire and Flood Claims – Part 1
From days to minutes: New tech overhauls quote and bind process
June 10, 2018 by Jason ContantThe launch of the new broker technology Vyne will eliminate some of the “inefficient steps” that brokers have to take between quoting and binding, potentially reducing the quote and bind process from days or weeks to just minutes, the company…
How telematics affected this insurer’s loss ratio
June 10, 2018 by Greg MeckbachCould Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who…
Lac-Mégantic residents seek economic and moral damages
June 10, 2018 Sidhartha Banerjee - THE CANADIAN PRESSMONTREAL – A new group of mostly Lac-Megantic residents is seeking authorization from Quebec Superior Court to sue for economic and moral damages worth upwards of $5 million relating to the Lac-Megantic rail tragedy in 2013. Train engineer Tom Harding,…
Sharing the Road
June 6, 2018 Emily Atkins, EditorWho will be in charge as autonomous vehicles and human-driven cars operate side by side on our highways?
System for enforcing legalized recreational marijuana remains hazy
June 3, 2018 Gemma Karstens-Smith - THE CANADIAN PRESSVANCOUVER – Marijuana businesses are growing in size and scope as Canada moves toward legalization of recreational pot, creating an increasingly daunting job for those tasked with enforcing the rules. In Vancouver’s bustling downtown, sleek, modern posters with fashionable fonts…