IoT poses one of insurance industry’s biggest underwriting challenges: Rosenbaum
February 3, 2016 Angela Stelmakowich, EditorOne of the insurance industry’s biggest challenges on the underwriting side is “how to effectively and profitably transfer cyber risk with respect to machine-to-machine technology,” so-called Internet of Things, Brian Rosenbaum, national director of the Legal and Research Practice at…
Firefighting funds depleted: Record number of wildfires in Canadian parks
January 11, 2016 Bob Weber - THE CANADIAN PRESSWildfires scorched a record amount of Canada’s national parks last year – the latest in a number of long, hot summers that have almost entirely depleted Parks Canada’s firefighting reserve. “We had a very busy fire year,” said director of…
Pollution Containment
January 1, 2016 Amira Palacios, Claims Consultant, Environmental Pollution; and Glen Hopkinson, Vice President and Head of Claims, Canada; XL-CatlinMinimizing the severity of a pollution claim requires contingency planning and an immediate response. While many commercial general liability policies do not cover pollution, some insurers offer in-house expertise in emergency response, environmental remediation and applicable regulations.
Disaster assistance available for flood-affected residents in Chestermere, Rocky View County, Alberta
December 23, 2015 by Canadian UnderwriterSouthern Alberta residents affected by an intense rainstorm in July may be eligible for provincial disaster funding to help repair damages, the provincial government announced on Dec. 18. On July 12, nearly 300 residential property owners in Chestermere and Rocky…
Aviva Canada announces grand prize winners of Aviva Community Fund competition
December 2, 2015 by Canadian UnderwriterAviva Canada has announced the 15 grand prize winners of the $1 million Aviva Community Fund (ACF). Aviva Canada, a provider of home, auto, leisure/lifestyle and business insurance, announced the winners of Wednesday, one month after naming the 30 finalists.…
Back to Business
December 1, 2015 Matt Johnson, President, Commercial Loss Experts, and Board Director, Disaster Recovery Information Exchange (Toronto)Protecting property can equate to protecting one’s business. But to make that objective a reality, a comprehensive and well-conceived business continuity plan should be in place. Planning for the worst-case scenario can help a business minimize business interruption.
Moves and Views
December 1, 2015 by Canadian Underwriter1 Serge Lavoie [1], former president and chief executive officer of Jevco Insurance Company, took on duties as president of the Canadian subsidiary, Echelon Financial Holdings Inc., as of December 1. Most recently Quebec president of GDI Integrated Facility Services,…
The Measure of Adjusting
November 30, 2015 Craig Harris, Freelance WriterInsurance company claims departments are using a wide range of metrics to measure adjusting efficiency, such as shelf life, cycle time and service indexes. Independent adjusters are accustomed to being accountable for their work, time and professional expertise through ongoing measurements. But are these key performance indicators relevant to all aspects of the claims handling process? Are the metrics truly effective at improving claim resolution? And how can adjusters and claims managers agree on the measurements that matter most?
Property Loss Restoration Expo (PLR Expo), November 16-18, 2015
November 18, 2015 by Canadian UnderwriterThe Property Loss Restoration Expo (PLR Expo) once again held Canada’s largest restoration conference in Toronto at the International Plaza Hotel on November 16 to 18. The event featured a tradeshow, informative sessions and workshops, keynote speakers and ample opportunity…
Federal bankruptcy law trumps Alberta law allowing suspension of uninsured drivers’ privileges: Supreme Court of Canada
November 16, 2015 by Canadian UnderwriterAn Alberta law that allows for driving prohibitions of uninsured motorists who fail to repay the Motor Vehicle Accident Claims Program – and are discharged from bankruptcy – is unconstitutional, the Supreme Court of Canada has ruled. Section 102 of…
Alberta invests in natural flood and drought protection with nearly $3 million in grants
November 13, 2015 by Canadian UnderwriterThe government of Alberta announced on Friday that it is providing grants totalling nearly $3 million to 12 organizations to help improve the flood and drought resiliency of communities across the province. The grants, through the Watershed Resiliency and Restoration…
Crawford records Q3 loss with $11 million in restructuring and special charges
November 10, 2015 by Canadian UnderwriterClaims management provider Crawford & Company announced Monday it recorded a net loss of $1.087 million during the three months ending Sept. 30, amid restructuring charges, while revenues before reimbursements in Canada dropped nearly 20%. Worldwide, Atlanta-based Crawford reported revenue…