Ongoing economic problems — including rising prices, high interest rates and stagnant wages — are creating problems for some insureds whose cars get totalled. The situation’s most acute for clients who experienced financial problems during the pandemic and bought used vehicles after costs for new cars climbed out of reach, Jesica Ryzynski, a claims specialist […]
By Phil | February 9, 2024
3 min read
Alberta will field more firefighters, more volunteers and more high-tech gear as it braces for what it expects will be another busy wildfire season, the province’s forestry minister said Thursday. And as the province faces a summer of possibly severe drought, Todd Loewen said the future looks like more of the same as Alberta dries […]
By Jason Contant | February 9, 2024
3 min read
Canada’s national earthquake early warning system is expected to go live in British Columbia in April followed by Ontario and Quebec this fall, a program manager for the federal government told delegates at CatIQ Connect Wednesday. The system works by detecting earthquake P waves — which move rapidly through the earth without causing much damage […]
By Jason Contant | February 8, 2024
3 min read
For the insurance industry, Canada’s record-breaking wildfire season should raise the question: Can we blame people for where they live? Amid mounting wildfire risk, consumers need incentives from their insurers to apply retrofits that can protect their house from fire embers, wildfire experts at CatIQ Connect in Toronto emphasized. The problem lies in the fact […]
By Alyssa DiSabatino | February 8, 2024
5 min read
OTTAWA – The federal government is earmarking $28 million in new money to help fight the export of stolen vehicles. The Liberal government said Wednesday the money will give the Canada Border Services Agency more capacity to detect and search containers with pilfered autos. The funding will also enhance collaboration and information sharing with partners […]
By Jason Contant | February 8, 2024
2 min read
A golfer who doesn’t shout “fore” before his golf ball damages a nearby homeowner’s car isn’t necessarily liable to pay the auto owner’s insurance deductible. That’s because even if the golfer had issued the warning, the parked car couldn’t get out of the way, a B.C. tribunal has found. “I considered whether Mr. Swonnell’s alleged […]
By David Gambrill | February 7, 2024
4 min read
Some major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future for handling highly specialized claims, as well as losses in particular locations and during periods […]
By Phil | February 7, 2024
4 min read
As you might expect, roadways and especially intersections are the most common places for accidents involving e-scooters that lead to claims and lawsuits. “It’s difficult when a motor vehicle [is] following the rules of the road and, all of a sudden, they come into contact with e-scooter operators who might not be familiar with the […]
By Phil | February 6, 2024
3 min read
Managing third-party risk and conducting thorough background checks are among several regulatory guidelines for banks and insurers looking to protect themselves against ‘foreign interference,’ as outlined in the Integrity and Security Guideline released by Canada’s solvency regulator last week. The guidance follows new federal government regulations designed to make sure federally regulated financial institutions “have […]
By David Gambrill | February 6, 2024
3 min read
Two climate scientists are questioning whether the open-endedness of Category 5 hurricanes is sufficient to communicate the risk of hurricane property damage in a warming climate. Michael Wehner of Lawrence Berkeley National Laboratory (Berkeley Lab) and James Kossin of First Street Foundation and the University of Wisconsin-Madison co-authored a study suggesting the open-endedness of Category […]
By Jason Contant | February 6, 2024
3 min read