Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Along with claiming a reported 49 lives (at time of posting), injuring thousands and causing between $1.7- and $2.9 billion in insured damage (according to AIR), the April 14 (UTC) 6.4Mw and April 15 (UTC) 7.0Mw earthquakes in Kumamoto, Japan…
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FSCO’s latest quarterly rate approval numbers have been released and suggest that some savings have been accrued from the statutory accident benefit cuts that become effective on June 1.FSCO approved 50 private passenger automobile insurance rate filin…
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The Court of Appeal for Ontario has released an interesting decision concerning whether a plaintiff must exercise due diligence to discover a claim to avoid having it dismissed as time-barred. In Fennell v. Deol, the plaintiff was involved in a…
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You’ve probably heard this little chestnut on at least a few occasions: “Our underground storm sewers can’t handle the rainfall we get these days.” The implication is that under climate change and with increased runoff in urban centres from the…
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The Ontario Superior Court has held that an “excluded driver” under an auto policy is not a “listed driver” under the policy for the purpose of receiving accident benefits under the policy. In Dominion v. State Farm, the claimant was…
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A few weeks ago, I mentioned an upcoming IBM Institute for Business Value study, and now it is available: “Innovating insurance: Lessons from the world’s leading innovators”. Insurance has traditionally been slow to innovate. Or if you prefer a more liberal interpretation of innovation – Continue reading
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A couple of posts ago (Why ‘just-in-time’ insurance would be a non-starter) I answered a question that I get asked at least a few times a year: ‘Why not allow consumers to purchase insurance just before a foreseeable loss is…
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Just how much has the sharing, or gig economy changed our world? A cursory Google search on the topic will usually turn up this common description: The world’s largest taxi firm, Uber, owns no cars. The world’s most valuable retailer,…
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When sanitary sewers back up into basements, the knee-jerk reaction by homeowners (and many insurers) is to blame the state of the local public infrastructure. Homeowners will almost always point the finger at their local government, even before they know…
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Three years ago, I wrote an article about the status of electronic insurance cards. Despite the fact that smartphones, tablets and other technological gadgets are now part of everyday life, providing proof of auto insurance coverage is like a nos…
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The Ontario Superior Court has released its first-ever decision on whether the notorious OPCF 16 (Suspension of Coverage) endorsement form is mandatory when an insured wishes to remove road coverage from their policy. Why would an insured want to remove their road…
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Via InsuranceThoughtLeadership.com, I ran across an interesting article on “Why Doctors Don’t Trust Insurers”. According to a (U.S.) survey by ReviveHealth Payor Trust Index, no insurer scored higher than 60 points out of 100 [1], with the average being 58. What are Continue reading
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If the broker distribution model is to remain dominant in the face of an expanding direct channel, brokers will need to find a way to distinguish themselves from direct writers in something other than price. In my view, the winning…
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A few times a year I get approached by someone asking the question: Why not allow consumers to purchase insurance just before a foreseeable loss is about to occur or immediately after it has occurred? Such suggestions always come from…
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