Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
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…
Read more →
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 […]
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,…
Read more →
Prior to the $700 million wildfire in Slave Lake, Alberta in May 2011, ICLR was on record warning the Canadian insurance industry of a $1 billion wildfire loss event in the country. And while $700 million isn’t $1 billion (even when…
Read more →
Innovation ecosystem. Open innovation. The combination of these two empowers the collaboration and the sharing of knowledge, information, and ideas that are accelerating innovation today, helping to reimagine industries and companies. Why is an ecosystem so powerful and so critical?…
Read more →
Last spring, a colleague and I had just wrapped up another day at a joint claims and underwriting audit in Hamilton, Bermuda. As we walked back to our hotel, we wondered aloud as to which emerging risk would next impact…
Read more →
Residual risks will always be around (no technology is failsafe, and there is always the human factor), but will this be enough to support more than 10,000 insurers globally?
Read more →
Data standards drive efficiency in the broker distribution channel, but what happens when standards start to take the wheel themselves? Driverless vehicles are currently being developed by companies such as General Motors, Daimler AG, Nissan and Google, and could be…
Read more →
A study was recently released by Ron Actuarial Intelligence reviewing he effectiveness of a Forward Collision Warning (FCW) system and a Lane Departure Warning (LDW) system on bodily injury claim costs in Israel.
Read more →
From a societal perspective, flooding is the most common natural hazard. This is true both worldwide and in Canada, where roughly 40 per cent of losses in the Canadian Disaster Database are from floods. From a homeowners (and home insurers)…
Read more →
Though we have to be careful about attributing the rise in disaster losses in the country solely to the poor state of public infrastructure (there are many other factors that have to be considered as well), there can be no…
Read more →
In Precision Plating Ltd. v. Axa Pacific Insurance Co., the British Columbia Supreme Court held that the absolute pollution exclusion in a CGL policy did not preclude a duty to defend actions by unit owners in a strata complex arising from a fire…
Read more →
As the Swiss Re graph on this page indicates, there is more often than not a wide gap between insured (blue line) and economic – or total – natural disaster losses (red line). Consider the 2013 floods in southern Alberta.…
Read more →
The impact of natural catastrophes is having an ever-increasing impact on the results of insurers around the world. According to a recent report from Aon Benfield’s catastophe model development arm, natural catastrophes caused roughly $7 billion in insured losses globally…
Read more →