Risk Management

  • Christian Bieck

    The Risks of Digital Interconnectedness

    December 28, 2015 by

    I hope all readers had a quiet Xmas, Hanukkah, Saturnalia, Presentmas or whatever else you happened to be celebrating. This year, I started out wanting to write the usual overview post, but quickly discovered that the Random Thoughts posts I had been putting out over Continue reading

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  • Michael Teitelbaum
    insBlogs Auto Legal

    ONCA addresses defence obligation of insurer of additional insured

    December 22, 2015 by

    In Carneiro v. Durham (Regional Municipality), the Ontario Court of Appeal, in a decision released on December 22nd, 2015, reversed the motion judge’s finding in this “additional insured” case involving winter road maintenance by Miller Maintenance, deciding that the judge

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  • Glenn McGillivray

    ‘Taking the comprehensive’ off home insurance

    December 10, 2015 by

    In an age where losses from severe weather are driving changes to homeowners’ policies that are not always seen as positive to insureds, it might be time to think about giving homeowners the option of a cheaper insurance product that

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  • insBlogs Auto

    Government Posts Proposed Changes to DRS Regulations

    December 9, 2015 by

    The Ministry of Finance has posted proposed changes to Insurance Act regulations to provide for the transition the Automobile Insurance Dispute Resolution System from the Financial Services Commission of Ontario (FSCO) to the Ministry of the Attorney General’s Licence Appeal Tribunal (LAT), and the wind down of disputes filed at FSCO. 

    Proposed amendments include:

     • The last date for submitting applications for mediation, neutral evaluation, or the appointment of an arbitrator to FSCO will be March 31, 2016. 

     • An application for an appeal to the FSCO Director of Arbitrations will only be accepted where the application for the appointment of an arbitrator was received by March 31, 2016. 

     • As well, an applications for a variation or revocation to the FSCO Director of Arbitrations will only be accepted where the application for the appointment of an arbitrator was received by March 31, 2016. 

     • The Office of the Director of Arbitrations will continue to function until all notices of appeal and all applications for variation or revocation have been finally determined. 

     • Statutory Accident Benefits Schedule (SABS) provisions that apply to the dispute resolution process at FSCO will continue to apply, as they read on March 31, 2016, to all applications that were received by FSCO before the transition date but are not finally determined before that date. The SABS will also be amended, where necessary, to apply to applications filed at the LAT on or after April 1, 2016.

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  • insBlogs Auto Technology

    Competition Bureau Supports Ride-Sharing Services

    December 8, 2015 by
    The emergence of Uber and other ride-sharing services has created increased competition for the Canadian taxi industry.  This has created a source of friction for the industry because of what they see is an “uneven playing field.”  Taxi operators are required to follow regulatory rules while ride-sharing services largely operate unregulated.  The Canadian Competition Bureau recently weighed in on the subject.

    The Competition Bureau recently released a study, Modernizing Regulation in The Canadian Taxi Industry, which concluded that the competition in the sector has benefited consumers.  However, there needs to be a balance between increased competition and the need for regulation.

    The taxi industry has operated largely unchanged for decades.  Regulators have created rules to govern price, vehicle safety and insurance requirements.  But the regulatory rules often restrict entry into the sector by limiting the number of taxi licences.  The number of plates usually does not keep up with demand for services which creates artificial scarcity, but also higher prices, poor service and long wait times.

    Ride-sharing companies have changed the landscape by offering consumers lower prices, variable pricing (higher fares when demand is high), shorter wait times, and convenience.  The software application used by ride-sharing companies provides automatic payment and the ability to track the number of vehicles available in the local area.  The software also allows consumers to rate drivers which creates an incentive to provide better service.  Low rated drivers receive fewer ride requests.

    The innovations introduced by Uber and other similar service providers have benefited consumers.  There is a need for updated regulatory rules so that traditional taxi operators can respond to the competition.  But the one aspect not addressed by the Competition Bureau study is the insurance issue. 

    In September 2015, Intact Financial announced plans to work with Uber to create products tailored for the ride-hailing service, after concerns emerged that person auto insurance policies may not cover drivers using their personal vehicles for commercial gain.   In the meantime, Uber claims it has adequate insurance coverage and that every ride on the UberX platform is backed by $5 million of commercial auto insurance, which covers both bodily injuries and property damage stemming from a crash.  However, Alberta government said in July that it had determined the policies do not meet the requirements of the province’s Insurance Act.  It’s all very confusing.  

    Ride-sharing services are here to stay.  Consumers will benefit but only if the regulatory rules and updated and the insurance issues are addressed.

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  • Andrew Lo
    insBlogs Auto Technology

    Autopilot: Driver Education Disrupted

    December 4, 2015 by

    There have been huge changes in technology for the automobile. Evidence of this is the Consumer Electronics Show (CES) where car manufacturers including Ford, Mercedes-Benz and Audi dominated last year’s keynote agenda. They boasted their vision of computers as an

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  • Daniel Strigberger

    Claimant hits grand slam at FSCO hearings

    December 1, 2015 by

    A November 30, 2015 Law Times article titled “Arbitrator orders rare special award against insurer” reports on an unusual FSCO case between Thomas Waldock and his auto insurer. The case not only highlights the constant risks associated with relying on insurer

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  • Peter Hohman

    Spreading the Word

    November 30, 2015 by

    Our industry widely supports the Insurance Institute’s Chartered Insurance Professional (CIP) designation, and we’re telling Canadians why. Canada’s p&c industry values the designation because it helps insurance professionals serve the public better. Fundamentally, the CIP gives insurance professionals the knowledge

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  • Christian Bieck

    Random Thoughts: Some updates

    November 23, 2015 by

    Today some topics we have written about before where something new and/or interesting came up. Here goes. On health insurance vs. nutrition advice: I finally got around to reading the study by Credit Suisse Research Institute: “Fat, the new health paradigm”. Although there isn’t much Continue reading

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  • Glenn McGillivray

    Making room for the river

    November 19, 2015 by

    After the water receded, things settled down and Alberta politicians began the task of looking at how to prevent a repeat of the 2013 floods, one of the policy tools to emerge was use of voluntary buyouts for those located

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  • Christian Bieck
    insBlogs Auto

    Random Thoughts: Emotions

    November 16, 2015 by

    Hard to get back to “normal” blogging after seeing the news from Paris over the weekend, so just short today. Thanks to Jean Jullien (@jean_jullien on Twitter) for putting out the image on the left to the public domain. My thoughts go out to the Continue reading

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  • Christian Bieck

    Redefining Boundaries: The Global C-Suite Study

    November 9, 2015 by

    My colleagues in the IBM Institute for Business Value have been hard at work over the past few months, analyzing the responses of more than 5,200 interviews with C-Suite executives in 21 industries and more than 70 countries globally on the threats and opportunities facing Continue reading

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  • Glenn McGillivray

    Resilience by luck or by design

    October 30, 2015 by

    When you think about it, it is quite remarkable to see just how many times communities have dodged rather large bullets due to near misses (or, as George Carlin aptly called them, near hits) from natural catastrophes. Every so often we

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  • Glenn McGillivray

    Focus on reducing losses associated with sump pumps

    October 19, 2015 by

    Hundreds of thousands of homes across Canada have sump pump systems, designed to collect water from the weeping tiles and safely eject it away from the foundation. These systems are a major source of property damage claims for Canadian personal

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