Claims

What’s driving auto claims costs during pandemic

The long-tail nature of auto bodily injury claims, in addition to insurers’ fixed claims adjustment costs, are among the reasons why insurers are not likely going to reduce auto premiums in proportion to the drop in driving observed during COVID-19. “I think that the market is not headed for an ongoing rate reduction,” Intact Financial […]

By Greg Meckbach | May 21, 2021

2 min read

Claims

Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers

CALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of the university’s School of Public Policy. “Landowners got the short end of these burdens that […]

By Jason Contant | May 20, 2021

3 min read

Claims

Why Intact didn’t have to pay $10K for a claimant’s proposed medical report

Ontario’s Licence Appeal Tribunal (LAT) has ruled that Intact Insurance is not obligated to fund a claimant’s $10,200 multidisciplinary report, the purpose of which was to dispute Intact’s decision to cease income replacement benefits after a 104-week period of entitlement. The claimant, Mark Green, was involved in an auto collision on Mar. 29, 2016. Intact […]

By David Gambrill | May 17, 2021

3 min read

Claims

Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA

Alberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer licensed to do business. The designated representative of NIB, Kenneth Molland (whose broker licence was […]

By David Gambrill | May 14, 2021

4 min read

How Intact views auto claims severity during pandemic

The long-tail nature of motor vehicle liability and auto accident benefits claims means a temporary drop in total miles driven due to the pandemic does not necessarily equate to a corresponding drop in premiums for your clients, Intact executives suggest. “The [auto claims] severity inflation, which we have observed for a number of years, is […]

3 min read

Coverage dispute arises as to whether construction exclusion applies to building under renovation

Editor’s Note: In an earlier version of this story, Canadian Underwriter incorrectly reported that Intact was denied leave to appeal an earlier court finding that a building renovation does not necessarily trigger an “under-construction” exclusion. In fact, the Court of Appeal for Ontario is scheduled to hear an appeal on this issue. Also, Canadian Underwriter […]

3 min read

How these auto reforms could reduce liability exposure for hospitality clients

B.C.’s move towards a form of no-fault auto insurance could wind up reducing liability exposure for commercial insureds in the hospitality and other high-risk sectors, according to a recent blog by Borden Ladner Gervais LLP. The province’s no-fault amendments came into force on May 1, 2021. Among other things, the new regime: Another key aspect […]

3 min read

Fire-ravaged court building in Saguenay Lac-St-Jean will be rebuilt, Quebec government says

The Quebec government on Sunday announced plans to rebuild a historic courthouse in the Saguenay-Lac-St-Jean region that was heavily damaged by fire and smoke the previous night. Andree Laforest, the legislature member for the region, confirmed the province would help rebuild the Roberval court building. Quebec provincial police said the fire broke out at about […]

2 min read

Flames rip through Alberta retirement complex

ST. ALBERT, Alta. – Fire has destroyed part of a retirement complex northwest of Edmonton. Officials say three residents suffered smoke inhalation but no one has died. Flames broke out at Citadel Mews West Continuing Care Facility in St. Albert just before 8 p.m. Thursday. A statement from the City of St. Albert says high […]

1 min read

Using pics in social media investigations? Here’s one thing you need to do…

Claims professionals who rely on videos and photos obtained through social media investigations need to make sure that evidence can be backed up as authentic, Virtual Symposium B.C. speakers suggest. There are several reasons why a social media investigation is useful during a claim, said Gavin Phillips, regional manager of investigations for xPera. Benefits include […]

3 min read