Claims

Shhh! Don’t show this article to a jury in a vehicle accident lawsuit

An Ontario court has refused a plaintiff’s request to tell a jury about the statutory deductible, of nearly $40,000 for pain and suffering, in motor vehicle accident tort claims. “The jury is not asked to determine how much the plaintiff is to receive. That is the role of the judge,” Justice Judy Fowler Byrne wrote in […]

By Greg Meckbach | August 31, 2021

5 min read

How much Canadian insurers have lost on cyber liability so far in 2021

Private passenger personal accident insurers have experienced a loss ratio of nearly 70% so far in 2021, while the loss ratio for cyber liability is more than 100%. The federal Office of the Superintendent of Financial Institutions has posted the Q2 financial data for P&C insurers that it regulates. This data tallies the year-to-date statistics, […]

By Greg Meckbach | August 31, 2021

2 min read

What industry-wide claims ratios were like for the first half of 2021

Canada’s federally-regulated property and casualty insurers collectively made an after-tax profit of $4.23 billion on direct written premiums of nearly $32 billion during the first half of 2021, recently-released regulatory data shows. Most major lines had claims ratios below 55%. The federal Office of the Superintendent of Financial Institutions has posted the Q2 financial data […]

By Greg Meckbach | August 30, 2021

2 min read

How Lloyd’s says your client could suffer reputational harm

Up to a quarter of the value of some of your commercial clients’ firms could be their own brand and reputation. This reputational value could degrade quickly if your client is perceived to have behaved badly, a Future of Insurance Canada speaker suggests. “Reputational damage can be caused by a single employee saying or doing […]

By Greg Meckbach | August 25, 2021

2 min read