Claims
Insurance flood claims have a much broader societal impact than on just the property and casualty insurance industry alone — which is another reason why it is critical to start adopting flood mitigation and prevention measures now, a climate expert told a recent conference. The effects of a flood claim can also be seen in […]
By Adam Malik | February 27, 2020
2 min read
Your clients may be doing all the right things to manage their wildfire risk, but what about the property halfway down the street? “You can have four homes in a row that are perfectly maintained, just the way they are supposed to be, and then a home that is five doors down is overgrown and […]
By Greg Meckbach | February 26, 2020
3 min read
The government of British Columbia has introduced legislative amendments in an effort to reduce costs and speed up motor vehicle claims in the current auto insurance system. The proposed amendments will limit the number of experts and expert reports that can be used in court on the issue of damages, while also providing “judicial discretion […]
By Jason Contant | February 26, 2020
With oil prices down nearly 30% over 16 months and bankruptcies on the rise, now might be a good time for brokers to check their oil and gas clients’ insurance policies – especially their directors’ and officers’ (D&O) coverage. Among North American oil and gas producers, there were 42 new bankruptcies in 2019, up from […]
By Greg Meckbach | February 25, 2020
Cases of egregious employee “snooping” in Alberta have exploded to the point where some affected individuals won’t even seek health treatment within their communities anymore, the province’s privacy commissioner said at a conference Friday. Jill Clayton, Alberta’s information and privacy commissioner, told attendees of NetDiligence’s Cyber Risk Summit in Toronto that her office used to […]
By Jason Contant | February 25, 2020
A recent case in Ontario serves as a warning to broker principals not to use an employment offer letter as the sole means to describe the brokerage’s commission structure to a new producer. If a commission structure is complicated, the Ontario decision implies, brokers would be advised to draw up standard employment contracts with a […]
By David Gambrill | February 25, 2020
5 min read
Twenty years after a loss resulting from food getting infested with insects, a commercial client has lost its coverage dispute with St. Paul Fire and Marine Insurance Co. The Supreme Court of Canada announced Thursday it had denied leave to appeal to Marvelous Mario’s Inc., which wanted to contest a Court of Appeal for Ontario […]
Canada’s new mandatory breach notification requirements have increased the number of reported claims, leading to a re-shuffling of claims costs for insurers, according to a privacy lawyer. “It definitely leads to more claims and it makes its presence [known] in three ways,” Eric Dolden, a partner at Dolden Wallace Folick LLP, said of the new […]
Asbestos-related commercial liability claims could soon reach a peak, but they continue to be a concern for the property and casualty insurance industry, suggests Prem Watsa, founder and chairman of Toronto-based Fairfax Financial Holdings Ltd. “Asbestos has been a problem [for the P&C industry] for some time,” Watsa said Feb. 14 during a conference call […]
By Greg Meckbach | February 21, 2020
Mid-sized and luxury sports cars are the most collision-prone vehicles on the road, including the Hyundai Sonata, Infinity Q50, Lexus GS 350, and the Acura TLX, according to new research by QuoteWizard.com, an online insurance comparison platform. At the other end of the spectrum, vehicles not typically built for speed, such as sport utility vehicles […]
By Adam Malik | February 21, 2020
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