Insurance & Risk, Analysis, Events and Careers
Claims
VANCOUVER – All climate disasters are not created equal and the Institute for Catastrophic Loss Reduction recommends retreat in the face of only one type of threat. “In our opinion, retreat is not an option that is important for most climate hazards in Canada. The hazard where retreat is really important and quite viable and […]
By Jason Contant | October 12, 2022
1 min read
A new claims solution may help carriers save costs during the claims process while also saving the environment. Through the new EcoClaims pilot program — which diverts waste from landfills by recycling flooring and drywall during the claims and restoration process — carriers may be able to save on costs incurred from renting disposal bins […]
By Alyssa DiSabatino | October 12, 2022
2 min read
Canada’s solvency regulator is preparing guidance that legal experts say will shift the scope of the regulator’s concerns about outsourcing data and technology to a much broader inquiry about insurers’ arrangements with third parties generally — including with broker partners. “The new guidance specifically refers to brokers,” said Stuart Carruthers, partner of Stikeman Elliott LLP, […]
By David Gambrill | October 12, 2022
3 min read
Quebec’s association representing condo corporations is reiterating a call on the newly re-elected provincial government to amend the Civil Code of Quebec to allow condo corporations to better recover losses from co-owners. Currently, condo corporations (called syndicates in Quebec) are forced to pay into a self-insurance fund that often empties faster than it fills up, […]
By Jason Contant | October 11, 2022
Border crossing issues stemming from COVID-19 health restrictions, as well as an aging workforce that’s rapidly reaching retirement, has led to an exodus of drivers from Canada’s trucking sector over the past two years. Stresses from that situation are amplified in Alberta, where the economy is making significant post-pandemic rebounds as the rising price of […]
By Phil | October 11, 2022
Seventy-four per cent of organizations across Canada have decided to invest in cyber insurance in 2022 compared to 59% in 2021 despite increasing costs and requirements, finds a survey from the Canadian Internet Registration Authority (CIRA). However, most organizations with a policy indicate that their provider has made changes to the coverage. The most […]
By Alyssa DiSabatino | October 11, 2022
BERLIN (AP) – Munich Re, one of the world’s biggest insurance companies, said Thursday that it will stop backing new oil and gas fields beginning next April. The company said it will also no longer invest in or insure new oil pipelines and power plants that weren’t already under construction by Dec. 31, 2022. Munich […]
A large property loss claim can be worsened by theft or adverse weather events during the initial logistics stage if insurers don’t act quickly, a contractor expert warned during the Ontario Insurance Adjusters Association’s claims conference in Toronto Wednesday. Insurers need to be especially prudent about handling claims right now, because, as an industry, “we’re […]
By Alyssa DiSabatino | October 7, 2022
Ballam Insurance Services, a Nova Scotia brokerage that sued its tech vendor 11 years ago over server issues, is allowed to proceed with its case despite examples of ‘inordinate’ and ‘inexcusable’ delays, the Supreme Court of Nova Scotia ruled Monday. That’s because the defendants in the 2011 lawsuit, Fundy Computer Services Ltd. and Atlantic Datasystems […]
By David Gambrill | October 7, 2022
Incorporating diversity, equity and inclusion (DEI) successfully into the workplace has to come from a genuine desire to improve a workplace culture rather than as a way to check boxes, speakers said in a RIMS Canada Conference panel discussion. “Often [DEI] training will be done for compliance purposes,” said Sarah Robson, president and CEO of […]
By Alyssa DiSabatino | October 6, 2022
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.