Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
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 scientific evidence is overwhelming that humans are changing the climate due to their unbridled use of fossil fuels. Yet despite the scientific consensus (and, yes, there is consensus), there are those that insist on denying that anthropogenic (i.e. human…
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The EF2 tornado that tore through Angus, Ontario June 17 damaged 102 recently built homes in the small community located just west of Barrie. Ten or 11 homes lost their roofs entirely. These homes will have to be razed and…
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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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On July 11th, 2014, the Ontario Court of Appeal in O’Byrne v. Farmers’ Mutual Insurance Company (Lindsay), dismissed the appeal from the insured’s claim for coverage for fuel oil contamination under an “all-risks” insurance policy. The decision is of interest because of …
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In Amello v. Bluewave Energy Limited Partnership, 2014 ONSC 4040, Ontario Superior Court Justice Perell dealt with a number of issues including, of most interest, a party’s obligation to pay defence costs when it has agreed to include another party as an…
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In its Second Quarter 2014 update, Aon Benfield Securities reported that catastrophe bond issuance hit a record high US$ 4.5 billion – the most of any quarter in the history of the insurance-linked securities (ILS) market. The growth of the…
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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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Since the financial crisis in 2008, the insurance industry has seemed transfixed, even paralysed at times by regulation-anxiety. The dash to introduce Solvency II; an expensive sprint to a finish-line, ultimately stretched by the EU rule makers, led to some rancorous exchanges between insurance leaders and those setting the policy as the full implications of […]
Time for a new study! In a preview a few weeks ago, I wrote about the difference in communication between leading insurers and non-leaders – how they understand that low-barrier customer communication is an essential factor for doing business. In the new study “Winning strategies Continue reading
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From an insurance perspective, essentially all of the large-loss hail events recorded in Canada have occurred in Alberta. Indeed, the top three most expensive hailers on record took place in that province. Emergency Preparedness Canada’s website lists the September 7,…
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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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Inspired. Extraordinary. Insightful. Transformative. Innovative. These are the words describing what I heard, saw, and experienced at the recent MIT Sloan CIO Symposium, titled Lead Your Digital Enterprise Forward: Are you Ready for the Next Digital Revolution? The symposium had…
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