Claims

Climate Changed: Catastrophe experts say retreat from flood risk is ‘critical option’

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

How carriers can save money — and the environment — through claims

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

OSFI’s third-party guidance to include insurer-broker contracts

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

Condo association calls for changes to help corporations recoup losses 

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

3 min read