You are the owner of a condo unit. The toilet in the condo unit above you overflows, causing water damage to your ceiling and floor. No, your upstairs neighbour does not have to reimburse you for your $1,000 insurance policy…
An Uber-style platform to expedite home and auto claims appraisals has made its way into Canada. Offered by WeGoLook, the online and mobile sharing-economy platform provides personalized, onsite data capture for inspections and low-complexity services across the United States. Now…
The Canadian property and casualty industry saw its reserve releases contract in 2018 to their lowest level in seven years, according to MSA’s Q4 2018 Quarterly Outlook. Expressed as a percentage of loss development margin, reserve releases last year amounted…
Are you spending a lot of time dealing with “coverage leakage” and buyer’s remorse as it relates to cyber insurance? For smaller claims in particular, some clients may not have a cyber policy, but may try to recover out-of-pocket costs…
Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement…
An Ottawa dry cleaner is liable for nearly $2 million in environmental clean-up costs resulting from spills that occurred at least 45 years ago, as a result of a Supreme Court of Canada ruling released Thursday. The top court’s ruling…
A court ruling against Economical and Intact over pollution exclusions in commercial general liability policies has been reversed. As a result, the insurers do not have to defend a Vancouver area dry cleaner against a lawsuit filed by its neighbours…
Women will comprise nearly half the boardroom of Canada’s largest property and casualty insurer if shareholders vote for Intact Financial Corp.’s recently-released slate of board nominees. Jane Kinney, a former global chief risk officer for Deloitte, is a new nominee…
Large companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and…
Canada’s home, auto and business insurers are objecting to a recent characterization of Ontario’s auto insurance regime as “profitable.” “The current trends are unsustainable for both drivers and insurance companies,” Insurance Bureau of Canada vice president of Ontario Kim Donaldson…
Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying…
Brokers are telling the Insurance Bureau of Canada that for some homeowner clients, the deductible on earthquake coverage is so high that the clients could still end up broke after a major tremor. “Right now, the deductible on some of…