Claims
A property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone or online, a Vancouver insurance lawyer suggests. “When placing policies by telephone or online, where […]
By Greg Meckbach | July 20, 2021
5 min read
Hyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I think customization and simplification of customer journeys is going to be very critical,” Baiju Devani, […]
By David Gambrill | July 20, 2021
4 min read
Many homeowners opt not to buy overland flood coverage and this could leave them uninsured in the event of a severe rain storm. “Overland flooding is any water that comes into your house through the windows or door or anything that is not the pipes. Any serious rain storm might cause that to happen,” said […]
By Greg Meckbach | July 19, 2021
2 min read
Terri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division. Chaired by Aviva Canada CEO Jason Storah, Équité Association is an industry-wide organization that intends […]
The number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported. Though it’s too early to quantify the industry-wide insured loss, experts told Canadian Underwriter Friday […]
By Greg Meckbach | July 16, 2021
A court finding of bad faith can damage a carrier’s reputation and harm its broker relationships, an industry lawyer warned Tuesday. Of particular concern to carriers these days is the fact that the courts are lowering the bar for a finding of bad faith, according to Samantha Ip, chairwoman of Vancouver law firm Clark Wilson’s […]
3 min read
Travel insurance is poised to start its post-COVID rebound, with Canadian governments relaxing restrictions to allow more travel within and between provinces. “The travel insurance market will definitely rebound from this, because people are not going to stop traveling; we saw people travelling during the pandemic,” Anne Marie Thomas, insurance expert at InsuranceHotline.com, told Canadian Underwriter in […]
By David Gambrill | July 14, 2021
Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel can happen when a carrier tells the client it will not enforce part of the […]
By Greg Meckbach | July 14, 2021
Brokers in the cyber insurance space predict doubled cyber premiums next year, and a two-year recovery period for cyber lines, post-COVID
By David Gambrill | July 13, 2021
Temple Insurance Company has won its appeal of a 2020 Court of Queen’s Bench of Saskatchewan ruling in a disputed construction wrap-up liability claim. Temple now has to pay some (but not all) of the legal defence costs incurred by four construction subcontractors in lawsuits filed in 2015 and 2017. Specifically Temple only has to […]
By Greg Meckbach | July 12, 2021
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