It does happen.  And when it does, it’s a major financial migraine for policyholders. During the 2008 financial meltdown, large global powerhouse insurers were brought to their knees, requiring financial assistance from the government to get them off life-support.  (Remember AIG in the US; ING in the Netherlands?) Although the Canadian insurance industry was largely  more...

The reforms to vehicle insurance in this province put in place by the provincial government have run for a full year (starting September 1, 2010). And except for the very small percentage of policyholders who have initiated changes to their basic policy, this means that every driver, passenger, and pedestrian now has less healthcare coverage  more...

Somehow it sounds crazy – and most people shake their heads when they hear about it. A criminal steals a car – maybe provoking a police chase – and sustains injuries in a subsequent collision.  And in Canada, that thief is entitled to the same medical portion of the accident and death benefits coverage* as  more...

It is now the single largest cause of property damage to Canadian homes. Water damage now accounts for more claims dollars spent on any other single risk to property. The following link will take you to a short article explaining the financial dimensions of the problem, according to AVIVA Canada. http://www.ilstv.com/average-water-damage-claim-rose-160-in-ten-years-aviva-canada/ AVIVA Canada also offers the  more...

A recent Canadian report* indicates alcohol-related vehicle crashes in Canada killed significantly more males than females.  Almost 80% of fatalities in such collisions were male; and almost 70% of those were drivers (as opposed to passengers or pedestrians.) Digging into the stats provides more support for the contention that while males generally may not represent  more...

It’s largely unknown and misunderstood.  But it’s also one of the most valuable protections you have under most liability insurance policies. It is this: your insurer’s obligation and duty to provide and fund legal defence for you the policyholder, when a legal action is commenced against you. This amounts to a form of legal services  more...

The Ontario legislature is considering a private member’s bill, recently introduced to encourage the automobile insurance industry to give premium discounts to those using snow tires.  The bill – if passed – is non-binding. And it won’t have any tangible effect.  Here’s why: Ontario’s insurers – over 75 of them – are struggling to climb  more...

A recent study by Allstate Canada* ranks Ontario communities by the likelihood of drivers having a collision. Although causing a stir in the local media here in North Bay, as always when reviewing statistics context is critical.  All data was based on Allstate’s own claims records only, involving private passenger vehicles Allstate insured.  The majority  more...

The work-life of an insurance underwriter: working in cramped cubicles in dimly-lit office towers in Toronto, carefully sifting through risk data, local fire-fighting ratings, and dusty manuals to find ways of charging more money to insure your home. Whimsical caricatures aside, the underwriter’s task – trying to insure homes that are unlikely to have claims  more...

Automobile accidents – even minor ones – are traumatic experiences. And all too often, those of us in the insurance business are confronted with significant human suffering and loss.  However, on occasion we encounter situations that although serious, could have been far, far worse. The pictures above and below tell that type of story. This  more...