EDSON, Alta. – Yellowhead County in northern Alberta says a fire that prompted the closure of a major highway west of Edmonton involved a gas metering station. The county says in a news release that its firefighters responded to a call for assistance for a reported structural fire on Monday near Range Road 185 and […]
By Jason Contant | July 2, 2024
1 min read
Culture is key. That’s the upshot of a new Canadian Council of Insurance Regulators (CCIR) report providing insights into how governance and business culture relate to Fair Treatment of Customer (FTC) reviews. “The development of a culture of fair treatment of customers is essential within the industry, and we hope that the impact will be […]
By Phil | June 28, 2024
3 min read
Canada’s top court has confirmed that an Aviva Canada business interruption policy doesn’t cover a restaurant for losses due to government shutdown orders during the COVID-19 pandemic. As is customary, the Supreme Court of Canada does not give reasons for denying leaves to appeal. The Ontario Appeal Court found Aviva’s commercial insurance policy covered the […]
By David Gambrill | June 28, 2024
3 min read
P&C insurance industry professionals need to rethink underwriting knowledge transfer, particularly as experienced underwriters retire and remote/hybrid work becomes the norm. The approach should be both systemic and cultural. Otherwise, the impact is quite restricted and heavily reliant on the quality of the interaction and the behaviours of the people in it, explains Pat Caldwell, […]
By Jason Contant | June 27, 2024
3 min read
In an industry fighting to bring candidates through the door and keep them there, the four-day work week might sound tempting. But it’s also unlikely, claims execs say. Disasters strike at a moment’s notice and so the P&C insurance industry’s claims segment is not conducive to a modern, four-day week, experts said at the CIAA’s […]
By Alyssa DiSabatino | June 27, 2024
3 min read
State-sponsored cyberattacks may present challenges for cyber insurers, a Morningstar DBRS report warns, because courts may not agree with insurers that state actors are responsible, thus triggering cyber policy war exclusions. “Cyber insurance demand is…being fueled by rising geopolitical tensions and the proliferation of state-proxy attacks that can be misidentified as common criminal activity and […]
By David Gambrill | June 27, 2024
2 min read
BURNABY, B.C. – Mounties in Burnaby, B.C., say they used undercover officers as part of a lengthy investigation into hundreds of stolen catalytic converters that they say were destined to be sent to the United States. RCMP say in a statement that its officers used search warrants on June 1, 2023, at four locations linked […]
By Jason Contant | June 27, 2024
2 min read
Any broker or adjuster can tell you that friendly service is not enough to satisfy a frustrated policyholder when they’ve had a claim. But what most don’t realize is even the greenest insurance pro can ease a customer’s claims frustrations if they set clear expectations — and then meet them. Carl Van, president and CEO […]
By Alyssa DiSabatino | June 26, 2024
2 min read
About one-quarter of personal property insurers in Ontario are unable to demonstrate that they’re properly overseeing independent adjusters (IAs), the provincial financial services regulator found in its inaugural home insurance review. In general, personal property insurers are working to provide fair resolutions to consumers with home insurance claims. But carriers can improve their claims handling […]
By Jason Contant | June 26, 2024
3 min read
Cargo theft declined 30% last year, largely because thieves saw more opportunity in stealing cars, says a new report by Équité Association. But as governments start to clamp down on car theft, Canada’s P&C insurers expect the thieves may go back to stealing trucks and their cargo. “In 2022, truck, trailer and cargo load theft […]
By David Gambrill | June 26, 2024
2 min read