Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Without a doubt, 2014 will be a pivotal year for the insurance industry – the dawning of a new future, reshaped more quickly than expected by powerful influencers such as customer-driven expectations, outside industry impact, and the increased speed of…
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I received a current SCOR report today that showed the 2013 results of 19 insurance companies representing about $11 billion in written premiums, about 25% of the total in Canada. The interesting thing is that their combined ratio was over…
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The Canadian property and casualty insurance industry does not operate in a vacuum. It is part of the Canadian economy. It is hard to imagine the p&c industry enjoying robust growth unless it goes hand-in-hand with a significant expansion of our…
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IBC is shining a spotlight on the huge problem of insurance fraud. This year’s theme to consumers is “Don’t Be Scammed.” The insurance industry joins forces with Financial Services Commission of Ontario, Toronto Police Services and other organizations all involved…
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The impact of water damage on property insurance results has drawn the attention of the Canadian Institute of Actuaries. As noted by the Insurance Bureau of Canada, one out of every two dollars paid for homeowners insurance goes to cover…
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I previously reported that based on HCAI data that it appears the minor injury definition was holding up. However, that doesn’t mean claimants are remaining in the Minor Injury Guideline (MIG). I would like to continue to examine data related…
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I assisted Justice Douglas Cunningham carry out his review of the Ontario auto insurance dispute resolution system (DRS). His report was recently submitted to the government and included 28 recommendations which if implemented would remove the system from Financial Services…
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In a significant decision, the Ontario Court of Appeal in Kozel v. The Personal Insurance Company has held that: (1) s. 98 of the Courts of Justice Act, which is broader than s. 129 of the Insurance Act, can be…
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Charles Sousa, Ontario Minister of Finance, just released the report of the Honourable J. Douglas Cunningham on the Automobile Insurance Dispute Resolution System (DRS) in Ontario. Although his review was for the purpose of speeding up claims settlements and reducing costs, it would appear…
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In December 2013, the IBC published the first set of standard HCAI reports. The document provides over 60 pages of aggregate data collected by HCAI going back to 2011 up to the first half of 2013. HCAI was made mandatory…
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