Claims
Increased rural highway speed limits in British Columbia had “large and statistically significant” increases in total insurance claims, injury claims and fatal crashes, a recent study has found. Over the course of the study, there were annual averages of 265,187 crashes resulting in an insurance claims (2000-2016). Total auto insurance claims increased 43%, injury claims […]
By Jason Contant | October 29, 2018
2 min read
The money needed to pay homeowners the cost of basement flooding could be raised by suing large oil firms, a politician suggested Thursday. “A lot of people are not going to be able to qualify for private insurance against flooding in the future,” said Peter Tabuns, an Ontario member of provincial parliament said in the […]
By Greg Meckbach | October 26, 2018
3 min read
Lawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said John Keogh, executive chairman and chief operating officer of Chubb, on Wednesday during an earnings […]
OTTAWA – Canada’s top court has set new limits for defendants trying to beat a drunk-driving charge in a ruling that may have consequences for anyone accused of being high behind the wheel. What the Supreme Court of Canada laid out over two decisions released Friday was a framework for when an accused person can […]
By Jason Contant | October 26, 2018
Artificial intelligence can be used to better predict weather risk in insurance, such as which customers’ properties may be more affected by severe weather, an Accenture executive said Thursday. One of the four major benefits of AI is enhanced judgement, or “the ability to do a better job of predicting anything, really, risk being one […]
Commercial auto losses have been worse than expected for The Travelers Companies Inc., and company officials are not exactly sure why. “It’s a line that has been challenged from a profitability perspective for a while,” Travelers chairman and CEO Alan Schnitzer said during a recent earnings call about the company’s worldwide results. Some causal factors […]
By Greg Meckbach | October 25, 2018
Jeff Goy elected chairman of Insurance Institute’s board of governors The Insurance Institute of Canada has elected S.J. (Jeff) Goy, president and CEO of Wawanesa Mutual Insurance Company, as chairman of its board of governors. Goy was elected chairman at the institute’s 65th annual general meeting Tuesday in Quebec City. The 2018-19 executive committee of […]
By Jason Contant | October 24, 2018
One multi-location brokerage in Nova Scotia is seeing hardening of property lines in the province, in line with a recent spike in property claims ratios across the country. Canadian federally regulated insurers have incurred $5.5 billion in property claims up to the end of the second quarter of this year (including both home and commercial […]
By Jason Contant | October 23, 2018
MONTREAL – A waitress who was harassed after refusing sexual advances from the owner of a Montreal restaurant has been awarded $52,000 by a Quebec labour relations tribunal. In a decision this month, the tribunal found Anissa Berrad had been humiliated and suffered psychological harassment in her workplace. When she was first hired by Nick […]
Aviva Canada is considering whether to seek leave to appeal to the Supreme Court of Canada after the New Brunswick Court of Appeal ruled last week that the insurer must pay a Catholic diocese about $3.4 million towards costs of settling sexual abuse claims dating back to the 1950s. “There is no question that victims […]
By Greg Meckbach | October 22, 2018
4 min read
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