Claims

Unfinished business

Why a winter construction fire should give underwriters pause before covering the risk of unfinished buildings

January 5, 2020

3 min read

There goes the neighbourhood

How governments and the industry should broach the delicate topic of expropriation in areas at high risk of flood damage

January 4, 2020

6 min read

Claims

How total losses may trend in 2020

With no relief in sight regarding the escalation of auto repair costs, software and data company Mitchell predicts that insurers’ total loss volumes will continue to grow. The frequency of total loss outcomes reached 17.53% in the first half of 2019, according to Mitchell data, and could cross the 18% mark sooner rather than later. […]

By Adam Malik | January 3, 2020

3 min read

Claims

“Throw-in” crime coverage: A judge’s cautionary advice to brokers

A recent Alberta Court of Queen’s Bench decision warns brokers not to overlook advising their clients on “throw-in” crime coverages in pre-set commercial insurance policies. The court concluded that crime coverage is “core” to a commercial insurance policy — even if insurers treat it as a “throw-in” coverage — and so brokers who fail to […]

By David Gambrill | January 3, 2020

4 min read

What can go wrong if adjuster fails to obtain coroner’s report

An auto insurer wants to deny liability coverage because its client had alcohol in his blood when he died. The thing is, the insurance company didn’t know its client had alcohol in his blood for three years, which is how long it took the insurer to obtain a copy of the coroner’s report. As it […]

By Greg Meckbach | January 3, 2020

4 min read

LifeLabs facing proposed class action lawsuit over data breach

TORONTO – A proposed class action lawsuit has been filed against medical services company LifeLabs over a data breach that allowed hackers to access the personal information of up to 15 million customers. In an unproven statement of claim filed in Ontario Superior Court on Dec. 27, lawyers Peter Waldmann and Andrew Stein accuse LifeLabs […]

By Jason Contant | January 3, 2020

3 min read

What reinsurance renewals on Jan. 1 told us about the market

Reinsurance renewals at Jan. 1, 2020 reflected an “asymmetrical” market, featuring a mixed bag of rate increases or decreases (depending on the specific business line or territory), as well as significant rate increases in the retrocession markets, according to Guy Carpenter & Company. The global risk and reinsurance specialist released its assessment of reinsurance market […]

2 min read

‘Growing cost’ of climate change prompts this insurer to stop covering oil sands

The Hartford has added its name to the list of insurers who will not write new business in Canada’s oil sands. Connecticut-based Hartford Financial Services Group Inc. announced Dec. 20 it will stop insuring companies that generate more than 25% of revenues directly from extracting of oil from the oil sands, though it is making […]

By Greg Meckbach | January 2, 2020

4 min read

Winter storm lashes B.C. with high winds, heavy precipitation

VANCOUVER – Another wicked winter storm is set to churn across most of British Columbia, dumping heavy rain on Metro Vancouver, parts of Vancouver Island and the central and inner south coasts, while bringing snow, wind or freezing rain to other regions. Environment Canada has posted warnings or special weather statements for much of central […]

By Jason Contant | January 2, 2020

2 min read