Claims

Value of fraudulent claims uncovered by insurers in U.K. hits record level

Although the number of detected fraudulent insurance claims uncovered by insurers in the United Kingdom was down slightly last year, the value rose 18% to a record £1.3 billion in 2013 compared to 2012. Figures published Friday by the Association of British Insurers (ABI) show that insurers detected 118,500 bogus or exaggerated insurance claims in […]

By Canadian Underwriter | June 2, 2014

2 min read

Talking Telematics

Canada has entered the telematics arena, with several stakeholders offering usage-based insurance (UBI) programs. Commoditization, privacy and consumer demands are sure to become even more frequent topics than they already are.

By Angela Stelmakowich, Editor and Harmeet Singh, Online Editor | May 31, 2014

7 min read

Restorative Process

A look back on the worst flood in the history of Alberta shows that even now, some homeowners, businesses and schools are still in the process of rebuilding. Restoration efforts at a town house complex in High River shows that restoration efforts can be complicated, making mitigation and prevention all the more important in the wake of increasingly common extreme weather.

By Jim Mandeville, Senior Project Manager, Large Loss North America, FirstOnSite Restoration | May 31, 2014

6 min read

The problem with property

In the wake of record catastrophic claims, insurers in key regions of Canada are changing their approach to personal and, to a lesser extent, commercial property insurance. Coverage terms are constricting, sub-limits are being introduced, deductibles are increasing and rates are rising, especially for water damage losses. It will take time before claims are filed on these revised policies and customers discover the true extent of coverage amendments. It's a testy situation that could put independent adjusters on the spot.

By Craig Harris | May 31, 2014

11 min read