Industry
Adjusters and insurance defence lawyers who think the “apples-to-apples” approach to deducting future no-fault benefits from tort awards is rotten will likely find relief in a Supreme Court of Canada ruling released Thursday. Canada’s top court announced July 11 it will not hear an appeal from Ontario auto accident victim Chad Cadieux, who was catastrophically […]
By Greg Meckbach | July 11, 2019
4 min read
OTTAWA – The Bank of Canada is leaving its key interest rate unchanged in an announcement that balances domestic economic improvements with an expanding global slowdown caused by trade conflicts. The decision Wednesday kept the interest rate at 1.75 per cent for a sixth-straight meeting as Canada rebounds from a weak stretch that nearly brought […]
By Greg Meckbach | July 10, 2019
3 min read
A carbon monoxide accident at a hotel could easily lead to a liability claim in the millions, an insurance lawyer says. On Tuesday, 46 people were taken to several Winnipeg hospitals after a carbon monoxide leak affecting a three-story Super 8 motel, The Canadian Press reported. Initially, CP quoted a local firefighter as saying 15 […]
2 min read
B.C.-based Zycomp Systems Limited, a Canadian software provider widely known for its broker management system Power Broker, has been acquired by Acturis Group, a London, U.K.-based software as a service (SaaS) provider. Founded in 2000, Acturis provides technology solutions to general insurance brokers and underwriters in the U.K., Germany and internationally. Its technology is used […]
By David Gambrill | July 10, 2019
An insurance defence lawyer is warning of a potential “administrative nightmare” for insurers in light of a recent Court of Appeal for Ontario decision on priority disputes involving optional benefits. Continental Casualty Company v. Chubb in Ontario is now becoming referred to as the “optional benefits” case. Essentially, it allows an insurer paying optional accident […]
By David Gambrill | July 9, 2019
Attracting talent and putting legacy data to good use are two of the ways insurtech can help the industry, a claims professional says. Chris Hampshire, vice president of carrier practice at claims services provider Gallagher Bassett Services Inc., was asked during a recent episode of A.M. Best TV whether insurtech can make the industry more […]
By Greg Meckbach | July 9, 2019
VICTORIA – The journey to bring ride-hailing to British Columbia came closer to a destination Monday as the provincial government announced it will start accepting applications in September for companies to enter the market. Safety, insurance and penalty rules and regulations were updated, but still to come this summer are rules covering fares that drivers […]
As the economy goes, so does the insurance industry. But what happens where things aren’t necessarily taking off, but not falling by the wayside either? Business leaders are increasingly hopeful about the economy. A recent quarterly survey released by the Chartered Professional Accountants of Canada found that 31% of leaders are optimistic, up from 22% […]
By Adam Malik | July 8, 2019
If your client ships goods to someone who turns out to be a fraudster and never gets paid as a result, is this covered by all-risks commercial insurance? Lloyd’s Underwriters tried to argue one such loss is excluded, but the Ontario Superior Court of Justice disagreed. In Heart Zap Services Inc. v. Lloyd’s Underwriters, released […]
By Greg Meckbach | July 8, 2019
Corporate sales culture is dominated by “urgent” meetings, phone calls and email messages; so many of them, in fact, that it’s hard to get any work done. Your employers require you to produce outputs, be they financial/claims reports, summaries, policy documents, pitches to broker clients, advertising campaigns, funding proposals, etc. But how do you carve […]
By David Gambrill | July 8, 2019
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