Claims
An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to a clinic run by Jenny Tran for back pain treatment. The patient paid $65 cash […]
By Greg Meckbach | November 17, 2020
4 min read
The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and B.C., according to the Home Insurance Price Index released Thursday by LowestRates.ca. The condo rate […]
By Greg Meckbach | November 13, 2020
2 min read
Vehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use translates to 1,152 claims that were avoided during the winter of 2017/18,” Manitoba Public Insurance […]
By Greg Meckbach | November 12, 2020
3 min read
The increase in cat losses over the past 10 years alone is high on the radar for Canada’s mutual insurers and has the industry calling for measures to help adapt properties to severe weather. “We have seen weather and wildfire catastrophes continue to ramp up significantly to levels that were really unimaginable even 10 years […]
A $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v. Co-operators General Insurance Company, released July 28, 2020 by the Court of Appeal for Ontario. […]
By Greg Meckbach | November 11, 2020
Massive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private partnerships will shape how the next pandemic risk will be handled,” Irene Bianchi, CEO of […]
By Greg Meckbach | November 10, 2020
Imposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring capital back into the system,” Brindamour said Wednesday during a conference call discussing Intact Financial […]
By Greg Meckbach | November 5, 2020
If you take a deep dive into the real cost to Canadians of insured major natural disasters, even though the methodology changed around 2008, it still shows a long-term trend of claims cost increases over nearly 40 years, industry experts tell Canadian Underwriter. Insurance Bureau of Canada provided data on what it calls “Natural disasters […]
By Greg Meckbach | November 4, 2020
A recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a contractor could use to manage the risk of a subcontractor becoming insolvent, Darren Bieganek, Edmonton-based […]
By Greg Meckbach | November 3, 2020
5 min read
Long-term care facilities accounted for a good chunk of the US$25.5 million in COVID-19 losses that Northbridge reported in the three months ending Sept. 30, officials with parent company Fairfax Financial Holdings Ltd. suggested this past Friday. Toronto-based Fairfax released its 2020 Q3 financial results Oct. 29. Fairfax owns several insurers, including OdysseyRe, Allied World, […]
By Greg Meckbach | November 2, 2020
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