Claims
While it may be too early to tell how the end of provincial COVID-19 restrictions are influencing auto insurance claims, industry experts are bracing for higher claims severity, a return to pre-pandemic levels of traffic, higher auto rates due to inflation, and more granular pricing models. During the height of the pandemic in 2020, AM […]
By Alyssa DiSabatino | April 4, 2022
3 min read
Quebec insurers are gunning to settle pandemic BI lawsuits in arbitration, instead of litigating through the court system
By David Gambrill | April 4, 2022
Inflation hit a multi-decade high of 5.7% this February. Industry observers warn this could go even higher before it goes lower, and the auto insurance industry is not immune to it. How long will it be before drivers feel the effects on their policy premiums? Consumers won’t see their rates change until their auto […]
By Alyssa DiSabatino | April 1, 2022
2 min read
Canada’s top court has shot down a case that might have used to challenge physical damage exclusions in pandemic BI insurance cases.
By David Gambrill | April 1, 2022
Clients looking for property and casualty coverage have options other than insurers licensed to write coverage in Canada. But brokers and managing general agents say there are hazards and tax implications when placing with an unlicensed or non-admitted insurer. And the hard market’s making it more common for brokers to try this approach. “Insurance companies […]
By Phil | March 31, 2022
Secondary peril events such as flooding are becoming just as big of a threat — or worse — to global property and casualty insurers than primary perils, Swiss Re Institute’s recent sigma study finds. “The loss potential from single flood events today is equal to and can even exceed the losses from primary peril events,” […]
By Alyssa DiSabatino | March 31, 2022
Credit ratings agency responds to EU sanctions against Russia over Ukraine war.
By Phil | March 30, 2022
More than seven out of 10 Canadian P&C industry pros feel protected from COVID in their new hybrid office arrangements,
By David Gambrill | March 30, 2022
4 min read
The industry is one step closer to getting updated flood maps, and a new national flood insurance program to protect homeowners in high-risk flood zones is in the works, says Canada’s public safety minister. Flood maps are being developed in partnership with provinces, territories, municipalities and Indigenous organizations, Emergency Preparedness Minister Bill Blair announced Mar. […]
By Alyssa DiSabatino | March 29, 2022
When disclosing their commissions or fees to consumers, brokers must know the specific rules of their specific region.
By David Gambrill | March 29, 2022
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