Claims

Drivers with fewer than four hours’ sleep had 11.5 times the crash rate of those who slept seven hours or more: AAA

There is a “significantly elevated” risk of a collision if a driver has slept for fewer than seven hours in the previous 24, the AAA Foundation for Traffic Safety concluded in a recent report. The Washington, D.C.-based AAA Foundation for Traffic Safety released Dec. 6 a study in which it analyzed more than 4,500 collisions […]

By Canadian Underwriter | December 9, 2016

3 min read

Cost for Cape Breton flood damage could surpass $15 million: minister

HALIFAX – The estimated cost for damage caused by the Thanksgiving Day floods in Cape Breton could exceed $15 million, says the Nova Scotia government. Zach Churchill, minister responsible for the Emergency Management Office, said Thursday the total could run even higher because the province is still waiting for more insurance information and final approval […]

By The Canadian Press | December 9, 2016

2 min read

ICBC identifies over 3,000 possible fraud alerts on open claims with new analytics software

The Insurance Corporation of British Columbia (ICBC) has discovered 3,300 possible fraud alerts on open claims over the last three years following a review with a new analytics tool. ICBC reported on Thursday that it has signed a five-year agreement with BAE Systems to use the fraud analytics software and case management solution to help […]

By Canadian Underwriter | December 9, 2016

3 min read

Insurance undergoing “a fundamental structural change”: KPMG speaker

The insurance industry is undergoing structural change with the emergence of platform-based business models and insurers need to ready themselves to be able to take part, Matthew Smith, insurance co-lead for the Global Strategy Group at KPMG, suggested during the firm’s 25th Annual Insurance Issues Conference. “The insurance industry is facing into a structural change. […]

By Angela Stelmakowich | December 8, 2016

5 min read