Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
The Ontario Divisional Court has ruled that Ontario laws cannot be used to determine whether a specific vehicle needs to be insured, when an incident happens outside Ontario. Why is this Important? Automobile insurance is meant to insure automobiles and…
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The market for property and casualty (P&C) brokerages continues to be intense. Books of business are attracting prices from 3.5x to 5.0x commissions – and even more for online business. So, are conditions right to start seeing more management buy-outs?…
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As Ontario’s auto insurance industry was waiting anxiously, the Court of Appeal for Ontario released an interesting decision on priority dispute notices to claimants. In Dominion v. Unifund, an accident benefits claimant was not notified of the priority dispute between…
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The ubiquity of the internet and the ease of access thereto has given consumers more informed buying power and instantaneous ability to satisfy their requirements for goods and services. Organizations that can meet and likely exceed consumer expectations will dominate…
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We live in an age of ‘Big Data’. And while it seems to me that the actual term is being used less and less these days (indicating, perhaps, that the concept has become mainstreamed), the overall notion is alive and…
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A provincial election in Ontario is expected to take place within the next six months. In the lead up to that election, it is a safe bet that all three parties will make a number of promises as to how…
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Not everyone has embraced telematics. It was reported the other day that at least one insurer has been told by its brokerage force that their customers are ‘not fans of telematics’. Carol Jardine, chief strategy office for Wawanesa, is quoted…
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When it comes to the valuation of insurance brokerages, is the going rate driven up by the presence of insurance companies as potential purchasers? Certainly this is the feeling of many within the brokerage community. Just because many people believe…
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The Court of Appeal for Ontario has held that a Minnesota tortfeasor with only $500,000 liability limits is an “inadequately insured motorist” under the Family Protection Endorsement (OPCF 44R) in Ontario, where the 44R limits are $1 million. In Hartley v.…
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The License Appeal Tribunal has held that a person who tripped over stone blocks and fell into a parked Honda vehicle was involved in an “accident”, making him entitled to receive accident benefit under the Statutory Accident Benefits Schedule. In…
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When is a flood a flood? In Parker Pad & Printing Ltd. v. Gore Mutual Insurance Company, the plaintiff’s premises in Haliburton, Ontario were flooded during a severe rainfall. The rainfall resulted in large pools of water collecting outside of…
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In 2015, auto insurance fraud cost Ontario consumers an estimated $1.3 billion – 13% of total auto insurance premiums. This considerable cost suggests that thousands of people are committing this type of crime. How do the perpetrators commit fraud? Exaggerating…
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On March 14, 2017, Microsoft released a critical patch to address a security vulnerability on its Windows operating system. On May 12, eight weeks later, the WannaCry global ransomware attack exploited that exact vulnerability, impacting over 230,000 computers in more…
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For Ontario brokers who thought they could rest easy after a year of dealing with the changes to the Statutory Accident Benefits Schedule, I’m afraid your prayers have not entirely been answered. Effective July 1st, the Highway Traffic Act in…
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