When a company has been cyber breached, they are obligated to tell their clients their data’s been leaked. But personal consumers may be more likely to bury their shame and eat the cost of the cyber scam—even to their detriment, insurance leaders shared at an industry conference. “[With] the romance scams you hear about […]
By Alyssa DiSabatino | July 10, 2023
3 min read
Ontario’s Licence Appeal Tribunal (LAT) has ruled in favour of Co-operators in an accident benefits case after finding a driver’s use and operation of his vehicle did not directly cause his injuries and thus did not meet the definition of an accident. However, even if the incident in which the driver spilled coffee on himself […]
By Jason Contant | July 10, 2023
3 min read
COVID-19 restrictions led adjusters to shift claims work to desktop teams. The change was driven by client reluctance to meet in-person and employees’ desire to reduce site work until the risks were better understood. But those changes can make some straightforward claims harder to clear. And a wave of pandemic-spurred retirements has left the adjusting […]
By Phil | July 10, 2023
3 min read
The Regional District of Bulkley-Nechako and the Regional District of Cariboo have issued evacuation orders this weekend due to wildfires in British Columbia. The Regional District of Bulkley-Nechako says the danger posed by the Tsah Creek wildfire has prompted an evacuation order for all properties on either side of Highway 27 in the vicinity of […]
By Jason Contant | July 10, 2023
3 min read
A powerful Canada Day tornado that swept through a section of rural Alberta likely won’t result in much insured damage despite strong winds that reached an estimated 275 km/h. The EF4 tornado tore through an area south of Didsbury, Alta. on July 1, destroying three homes, leaving four uninhabitable and damaging another five, according to […]
By Jason Contant | July 7, 2023
4 min read
Is that car worth repairing? Given ongoing supply chain disruption and high inflation rates, the answer for insurers may increasingly be ‘no.’ “We see significant increases in rental costs,” said Kumar Siva, senior vice president for third party administration services and desktop solutions at Sedgwick, told Canadian Underwriter. “Extending rentals due to delays in parts […]
By Phil | July 7, 2023
2 min read
Cyber insurers are finding that acting as incident response services for their small- to mid-sized business clients is helping to reduce overall claims, experts shared during an industry conference. Insurers should be the first ones to open the lines of communication so clients know they can come to them for advice, speakers said during a […]
By Alyssa DiSabatino | July 6, 2023
3 min read
OTTAWA – Natural Resources Canada says the country’s record-breaking wildfire season will continue to be abnormally intense throughout July and into August. The projections are based on anticipated high temperatures, dry conditions and historical comparisons. The risk is expected to shrink slightly in August, but it will remain high across the country. Canada surpassed the […]
By Jason Contant | July 6, 2023
1 min read
Nova Scotia’s Tantallon wildfire is estimated to have caused more than $165 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Nearly 90% of all claims related to the Nova Scotia wildfire were personal property claims, CatIQ reports. The Tantallon wildfire, which lasted from May 28 to June 4, […]
By David Gambrill | July 5, 2023
3 min read
CALGARY – Canada’s top technical authority on cybersecurity says it is working closely with Suncor Energy Inc. in the aftermath of a high-profile systems breach at the energy giant. The Canadian Centre for Cyber Security says it can’t disclose details of the cybersecurity incident that caused payment systems at many of Suncor’s Petro-Canada locations across […]
By Jason Contant | July 5, 2023
1 min read