Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Imagine an insurance transaction with just three touch points between the customer and broker: Customer requests a policy change over the weekend using their mobile phone Broker calls to confirm the coverage details and, if necessary, sends an application for…
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As a centre of excellence for basement flood risk reduction, ICLR never advises that just a backwater valve will reduce the risk (indeed, we have 20 tips to reduce basement flooding). Yet Canadian insurers have taken to advising insureds to…
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Cars changed the world and our cities in the 20th Century by freeing people of the limitations of their geography. People now have the freedom to live, work, shop and travel almost anywhere they want. The car industry has caused suburbs to grow, and made the development of road and highway systems necessary.
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The term “big data” carries much weight today, usually referring to the massive amounts and availability of data for analysis. Big data consists of the growing volume of information from sources such as claims history, industry statistics, telematics devices and,…
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Some marriages are made in heaven; others are made in Las Vegas. It’s early days yet, but I think the marriage of IBM’s Watson technology with USAA’s insurance and financial services is made in customer service wonderland. If implemented correctly…
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Monk v. Farmers’ Mutual Insurance Co. (Lindsay), [2014] O.J. No. 3509, illustrates the importance of the policy language used. Ontario Superior Court Justice Koke summarily dismissed this action against both the insurer and insurance broker arising from an insurance coverage claim…
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An important topic concerning the P&C insurance industry is legacy systems – the technologies put in place years or even decades ago to support business operations. These could include anything from desktop computers and old operating systems to entire servers…
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The Ontario Budget presented on July 14, 2014 will have little effect on car insurance. The Liberal Party had stated last year that insurance rates must be reduced by 15% but did not indicate how this would be accomplished. They…
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A recent FSCO arbitration case (by an ADR Chambers arbitrator), Lo-Papa and Certas Direct, determined that the existence of anxiety and depression following an accident does not necessarily exclude one from the minor injury definition or the $3,500 tre…
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The Court of Appeal for Ontario has reversed the Superior Court’s decision in Matheson v. Lewis, finding that the plaintiff farmer’s Honda ATV was an off-road vehicle that required automobile insurance at the time of the accident. In Matheson, the plaintiff farmer used his…
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Aerial drones – small, unmanned air vehicles (UAVs) – are highly visible at the moment, making an impact in areas as diverse as car advertisements, scientific research and agricultural support. The insurance industry can benefit from the technology as well,…
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A surprise majority for the Liberals in the recent election is expected to set a different tone in Queen’s Park after almost 3 years of minority government. A minority government is all about survival, there is no long-term planning. The Liberals…
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While fibbing on an address may seem harmless enough, it’s a practice known as rate evasion, and it’s considered a form of insurance fraud.
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The Liberals will have a challenge bringing down rates further without a few significant systemic changes.
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