Your business clients may face increased exposure to climate change liability claims, based on a recent decision by the Federal Court of Appeal (FCA). “With strong language, the Federal Court of Appeal affirmed the ‘existential challenge’ posed by climate change and the courts’ willingness to hear claims that address its potential harms,” says a Torys […]
By David Gambrill | January 4, 2024
4 min read
Intact Insurance Company won a decision against an insured who notified the insurer of an accident within seven days of his accident, but didn’t apply for accident benefits until almost two years later. In Jakupovic v Intact Insurance Company, an Ontario License Appeals Tribunal adjudicator found the insured showed enough foresight to contact his insurer about […]
By Alyssa DiSabatino | January 4, 2024
3 min read
Increased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to ensure they’ll stand up to future storms. Insurers have developed coverages designed to let homeowners […]
By Phil | January 4, 2024
3 min read
ST. JOHN’S, N.L. – A Memorial University campus in western Newfoundland is the latest Canadian post-secondary institution to be grappling with what officials are calling a “cybersecurity incident.” The beginning of most in-person classes for the winter semester at Memorial’s Grenfell Campus in Corner Brook, N.L., will be delayed until Monday because of information technology […]
By Jason Contant | January 3, 2024
2 min read
HALIFAX – Seven months after a wildfire left a charred, 1,000-hectare scar on the western suburbs of Halifax, less visible damage persists in the lives of those who lost their homes to the flames. Lindsay Law said the financial and emotional costs continue in ways she and her husband, Jacob Haybecker, never imagined before their […]
By Jason Contant | January 2, 2024
4 min read
A customer who claimed amnesia following an auto collision and another who said their symptoms were so severe they were unable to work were among Manitoba Public Insurance’s (MPI) Top 5 fraud claims of 2023. Every year, it’s estimated auto insurance fraud costs Manitoba customers about $50 million, the government auto insurer said in a […]
By Jason Contant | January 2, 2024
4 min read
Greg Smith, president of Canadian operations, Crawford & Company Macro industry trends, including the impact of climate on claims frequency, the growing talent gap, and technology integration, will continue to be significant stories in 2024. But fraud is an emerging trend adding more weight to the industry’s shoulders. Over the past two years, the insurance industry […]
By Phil | December 27, 2023
2 min read
In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine, played by Humphrey Bogart. Canada’s property and casualty insurance industry similarly shared a tumultuous ‘time […]
By David Gambrill | December 19, 2023
2 min read
It wouldn’t be the holiday season without someone trying to ignite their house by attaching burning candles to the Christmas tree. An internet search for “crazy Christmas claims” finds insurance broker websites rife with holiday-related claims in the neighbourhood of $500,000 because someone left the room with burning candles on the tree or forgot to […]
By David Gambrill | December 18, 2023
3 min read
Clients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report. Of particular concern is inadequate responses by company directors and officers to economic and geopolitical pressures, flawed implementation of of technologies such as GenAI, and environmental, social, […]
By Alyssa DiSabatino | December 18, 2023
3 min read