Insurance & Risk, Analysis, Events and Careers
Claims
Insurers are still receiving new claims from the June 2020 Alberta hail storm that is estimated to have cost the industry more than $1 billion. “We are actually still seeing some new losses reported from the June storm today,” said Cortney Young, vice president of Contractor Connection Canada at claims services firm Crawford & Company […]
By Greg Meckbach | November 23, 2020
2 min read
When the driver of a loaner vehicle provided by an auto service centre is sued by an accident victim in Alberta, the insurer of the loaner vehicle may be the first payor. This is what happened when Northwest Acura in Calgary provided a loaner vehicle for one of its customers whose vehicle was being serviced. […]
By Greg Meckbach | November 20, 2020
5 min read
The owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata corporation’s insurance, the B.C. Civil Resolution Tribunal has found. Anna Lamb, who co-owns one of […]
By David Gambrill | November 19, 2020
3 min read
An Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to a clinic run by Jenny Tran for back pain treatment. The patient paid $65 cash […]
By Greg Meckbach | November 17, 2020
4 min read
The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and B.C., according to the Home Insurance Price Index released Thursday by LowestRates.ca. The condo rate […]
By Greg Meckbach | November 13, 2020
Vehicle damage claims frequency appeared to be 6% lower for vehicles with winter tires than those without winter tires, Manitoba’s public auto insurer concluded in a recent study. “The estimated 6.3% reduction in claim frequency due to winter tire use translates to 1,152 claims that were avoided during the winter of 2017/18,” Manitoba Public Insurance […]
By Greg Meckbach | November 12, 2020
The increase in cat losses over the past 10 years alone is high on the radar for Canada’s mutual insurers and has the industry calling for measures to help adapt properties to severe weather. “We have seen weather and wildfire catastrophes continue to ramp up significantly to levels that were really unimaginable even 10 years […]
A $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v. Co-operators General Insurance Company, released July 28, 2020 by the Court of Appeal for Ontario. […]
By Greg Meckbach | November 11, 2020
Massive business interruption losses resulting from COVID-19 have encouraged discussion about how governments can work with the property and casualty insurance industry to handle global disasters such as future pandemics, the CEO of an Ontario mutual suggests. “Public and private partnerships will shape how the next pandemic risk will be handled,” Irene Bianchi, CEO of […]
By Greg Meckbach | November 10, 2020
Imposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring capital back into the system,” Brindamour said Wednesday during a conference call discussing Intact Financial […]
By Greg Meckbach | November 5, 2020
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