Claims

Inflation might not lead to higher claims amounts in Canada

With overall consumer inflation near 40-year highs, can sharply rising claims costs and social inflation be far behind? It’s too soon to tell, an Aon expert tells Canadian Underwriter. Speculation that consumer price inflation might spark social inflation for casualty claims has so far not materialized, according to a June inflation report from Aon. “Companies […]

By Phil | July 8, 2022

2 min read

How the court bolstered an insurer’s exclusion for privacy breach

Acting recklessly in breaching the confidential medical files of patients effectively falls within a hospital insurer’s commercial policy exclusion for committing an ‘intentional act,’ Ontario’s top court has ruled. The Ontario Court of Appeal found a hospital insurer, the Healthcare Insurance Reciprocal of Canada, does not have a duty to defend a legal action brought […]

By David Gambrill | July 8, 2022

3 min read

What the latest inflation measures mean for insurers

Several inflation drivers have increased claims costs for insurers since 2020, but some are less aggressive than expected and a few have yet to register significant impacts, a June report from AON found. Insurers can expect it to cost more to find a replacement vehicle for a car insurance claimant, thanks to rising costs for […]

By Phil | July 7, 2022

2 min read

Why Intact can’t recover $2.9 million in excess insurance payment

Intact Insurance has lost its bid to recover $2.9 million it paid above and beyond its $5-million insurance policy limit for cleaning up a 2012 chemical spill in North Bay, Ontario. Ontario’s Court of Appeal rejected Intact’s arguments that it had a right under the Environmental Protection Act (EPA) to recover the excess insurance payments […]

By David Gambrill | July 7, 2022

4 min read