The Bigger They Come
July 31, 2015 Craig Harris, Freelance Writer|Craig Harris, Freelance WriterComplex losses frequently necessitate the use of forensic experts, namely engineers. Even for seasoned adjusters, issues such as causation, coverage and surrounding circumstances may be too complicated in certain claims scenarios. That’s when they need to tap into the expertise of forensic specialists. Clear lines of communication, well-preserved evidence and as much advance notice as possible are the keys to the right working relationship, according to several forensic engineers.
Water Logged
July 3, 2015 Angela Stelmakowich, EditorThere is no getting away from water in Canada’s property and casualty insurance industry. Protection is available for much of the damage that water can do on the residential side, but not all. Will the overland flooding options now becoming available help cap the flow or will leaks in coverage remain? And what might this evolving environment mean for insurers and reinsurers alike?
Capitalizing on Claims Data
May 31, 2015 Craig Harris, Freelance Writer|Craig Harris, Freelance WriterAfter initially focusing on underwriting and pricing, many insurance companies have expanded their view of data analytics to loss management. The claims handling process represents a rich area for data modeling tools that can provide better insight into everything from adjuster assignment and operational efficiency to fraud detection and subrogation. How does data analytics fit into the claims management process for insurers – and adjusters?
Brokers in Action
April 1, 2015 Greg Meckbach, Associate EditorAs ever, insurance brokers across the country are grappling with a wide variety of issues. Some issues are ongoing while some are emerging; some are regional while others are country-wide. The one constant is the need for brokers to continue to act as trusted advisors and to provide sound advice so that customers know the risks, understand coverage and have access to a wide choice of products.
Over and Above
April 1, 2015 Sharon Ludlow, President, Aviva Insurance Company of CanadaWhy is now the time for homeowner overland water protection? With Canada seeing more rain every year, this type of protection will only become more important in future. The country’s first such coverage for residential properties, working in concert with sewer back-up protection, seeks to meet that need.
Flood of Options
April 1, 2015 Glenna Boudreau, president; and Karen Slaunwhite, executive director, Insurance Brokers Association of Nova ScotiaWith the increase in water-related events, insurers have responded in a number of ways, including by introducing higher premiums and exclusions. Consumers must take steps to ensure they are prepared and to seek out advice that will help them mitigate losses should an adverse event occur.
Water damage claims increasing: Aviva Canada
March 31, 2015 byWith the late winter thaw happening around the country, Aviva Canada Inc. noted recently that the frequency and severity of water damage claims is on the rise. “2013 was our worst year for water damage in part due to flooding…
Number and cost of residential water damage claims on steady rise, Aviva Canada says
March 23, 2015 by Canadian UnderwriterWith the late winter thaw happening around the country, to be followed by the spring and summer rains, Aviva Canada Inc. is encouraging Canadians to take steps to protect their property from water damage. “2013 was our worst year for…
Bringing Data Home
February 1, 2015 Craig Harris, Freelance WriterSometimes seen as the “poor cousin” to auto insurance in terms of resources and investment, personal property is now a hive of activity in data analytics. Internal and external information is being used to delve into more specific by-peril rating, loss cost development and operational efficiencies.
The Cat Issue
January 31, 2015 Craig Harris, Freelance Writer|Craig Harris, Freelance WriterEmergent trends in catastrophe management involve the use of location intelligence, satellite imagery and even early experiments with drones. The goal for insurance companies is to gather highly specific information to efficiently dispatch adjusters to target areas hit by natural disasters. However, the 48th annual joint CICMA/CIAA conference held in Toronto February 3 showed that catastrophes often extend to more than “just the weather.” And when it comes to dealing with CATs, attendees learned that the core fundamentals of adjusting haven’t really changed.
Adapting to Extreme Rainfall
January 31, 2015 Sophie Guilbault, research coordinator, Institute for Catastrophic Loss Reduction|Sophie Guilbault, research coordinator, Institute for Catastrophic Loss ReductionThe Institute for Catastrophic Loss Reduction celebrates leadership amongst Canadian cities in its latest publication.
Water: The Structural Enemy
January 31, 2015 Randy Henderson|Randy HendersonAn exploration of the sources and causes of property damage claims