Claims

Mitchell data confirms increased Canadian collision costs

Recent data from Mitchell International seems to confirm what Canadian insurers have been saying: collision repair costs and severity potential is increasing. On Sept. 11, Mitchell released its Canada Collision Summary: Q2 2018 report. It includes Canada-specific data from body shops, independent appraisers and insurance personnel, “more accurately depicting insurance-paid loss activity, rather than consumer […]

By Jason Contant | September 17, 2018

2 min read

How basement flooding devalued this property

Recurring basement flooding means a homeowner’s property is worth about $35,000 less than it would otherwise be valued at for tax purposes, says an official from the board that hears Ontario property tax appeals. Sharon Latta owns a home near Grand Bend, about 70 kilometres northwest of London. The Municipal Property Assessment Corporation said her […]

By Greg Meckbach | September 17, 2018

2 min read

Risk appetite for marijuana ‘all over the map’

Some insurance companies “want no part” of covering risks related to cannabis in Canada, an industry analyst warns. As of Oct. 17, it will be legal in Canada for adults to possess up to 30 grams of dried cannabis for recreational use. Currently cannabis is legal only for medical use. “There will always be issues […]

By Greg Meckbach | September 17, 2018

2 min read

Insurer receives 3,000 vehicle damage claims after two sulphuric acid spills

The Insurance Corporation of British Columbia (ICBC) has received more than 3,000 claims from two sulphuric acid spills in April and May, the public insurer said Wednesday. The Canadian Press reported mining company Teck Resources as saying two spills of sulphuric acid occurred on April 10 and May 23 along a busy commuter route in […]

By Jason Contant | September 16, 2018

2 min read