Insurance & Risk, Analysis, Events and Careers
Claims
At least one major Canadian insurer has seen driving patterns return to pre-pandemic levels last seen in late 2019 and early 2020. Aviva closely monitors both the amount of driving and its claims frequency, said Phil Gibson, executive vice president and managing director of personal insurance at Aviva Canada. “We saw a dramatic decrease in […]
By Phil | June 28, 2022
2 min read
While consumers are paying close attention to inflation’s impact on their wallets, insurers should be keeping an eye on social inflation – and recognize the two are often linked. “There’s quite a distinction between the impact of what I would call first-party inflation – the cost to replace a building or to replace property, such […]
By Phil | June 24, 2022
3 min read
B.C.’s Supreme Court has denied a claimant’s attempt to bail out of two mandatory dispute resolution hearings with multiple insurers in a three-year dispute over the value of water damage in her strata unit. “The plaintiff is understandably frustrated by the situation in which she finds herself and the length of time that this dispute […]
By David Gambrill | June 22, 2022
VANCOUVER – Environment Canada says the first hot spell of the year is about to settle over much of British Columbia, bringing temperatures in the low to mid-30s until at least early next week. Special weather statements now cover the inner south coast, east to the Alberta boundary and north to Fort St. John, raising […]
By Jason Contant | June 22, 2022
1 min read
Insurers have been sounding the alarm about their auto claims ratios returning to normal post-pandemic, but expect the oil shock to temper that expectation somewhat, P&C industry execs predict. The war in Ukraine and consequent embargo on Russian oil have helped drive the price of West Texas Intermediate (WTI) crude oil up from US$57.68 per […]
By David Gambrill | June 21, 2022
Consumer behaviour, supply chain issues and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives. Processing claims in-house helps speed up service to customers, panellists said during a discussion at the Young Brokers Conference […]
By Alyssa DiSabatino | June 20, 2022
A sewer backup insurance policy only applies to a flood originating from “within” a dwelling and not from a drain overflow on a sun deck partially exposed to the outdoors, B.C.’s Supreme Court has ruled. In Gill v Wawanesa Mutual Insurance Company, the perimeter drainage system of a house owned by Amritpal Gill and Baljit […]
By David Gambrill | June 17, 2022
4 min read
By Keith Porter, adjunct research professor, civil and environmental engineering, Western University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. A tornado cut a 270-kilometre path through Kentucky in mid-December 2021, killing 80 […]
By Jason Contant | June 17, 2022
5 min read
Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a risk bulletin from Allianz Global Corporate and Specialty. “Civil unrest increasingly represents a more critical […]
By Phil | June 16, 2022
Although home to many of the costliest natural disasters in Canada, Alberta appears to have dodged a bullet with the latest rainfall event in the Calgary area. The City of Calgary declared a local state of emergency earlier this week as a precautionary measure in anticipation of significant rainfall. Environment and Climate Change Canada had […]
By Jason Contant | June 16, 2022
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