Claims
The industry will probably see well over 200 claims from the July 15 tornado that hit Barrie, Ont., says a wind damage expert who has looked at the affected area. “I expect the total number of damaged houses was about 200 – that kind of range,” Western University engineering professor Greg Kopp told Canadian Underwriter […]
By Greg Meckbach | July 21, 2021
2 min read
A property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone or online, a Vancouver insurance lawyer suggests. “When placing policies by telephone or online, where […]
By Greg Meckbach | July 20, 2021
5 min read
Hyper-personalization of customer experience in three to five years’ time is a big reason why the property and casualty insurance industry is ramping up the use of artificial intelligence and machine learning now, an Aviva Canada tech executive suggests. “I think customization and simplification of customer journeys is going to be very critical,” Baiju Devani, […]
By David Gambrill | July 20, 2021
4 min read
Many homeowners opt not to buy overland flood coverage and this could leave them uninsured in the event of a severe rain storm. “Overland flooding is any water that comes into your house through the windows or door or anything that is not the pipes. Any serious rain storm might cause that to happen,” said […]
By Greg Meckbach | July 19, 2021
Terri O’Brien, a former vice president at TD Bank, is now CEO of Équité Association, the anti-fraud organization announced Monday. Équité Association is a new organization that integrates Canadian National Insurance Crime Services (CANATICS) and the IBC’s investigative services division. Chaired by Aviva Canada CEO Jason Storah, Équité Association is an industry-wide organization that intends […]
The number of Barrie, Ont. clients whose homes are damaged beyond repair by Thursday’s tornado may be more than initially reported, an industry expert predicted Friday. The tornado touched down at about 2:30 p.m. July 15, the Canadian Press reported. Though it’s too early to quantify the industry-wide insured loss, experts told Canadian Underwriter Friday […]
By Greg Meckbach | July 16, 2021
Boat technology now is following the same trajectory as car technology did 10-15 years ago, with the same claims patterns starting to emerge.
By David Gambrill | July 16, 2021
3 min read
A court finding of bad faith can damage a carrier’s reputation and harm its broker relationships, an industry lawyer warned Tuesday. Of particular concern to carriers these days is the fact that the courts are lowering the bar for a finding of bad faith, according to Samantha Ip, chairwoman of Vancouver law firm Clark Wilson’s […]
Travel insurance is poised to start its post-COVID rebound, with Canadian governments relaxing restrictions to allow more travel within and between provinces. “The travel insurance market will definitely rebound from this, because people are not going to stop traveling; we saw people travelling during the pandemic,” Anne Marie Thomas, insurance expert at InsuranceHotline.com, told Canadian Underwriter in […]
By David Gambrill | July 14, 2021
Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel can happen when a carrier tells the client it will not enforce part of the […]
By Greg Meckbach | July 14, 2021
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
