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Sustainable claims processes save cooperative millions

Visibility360, PDF version to share

By Kate McCaffery | June 14, 2024, 10:39 a.m.

Photo: Adobe Stock

Technologies drive affordability and practicality of more environmentally conscious choices.

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Headlines

Alberta rate cap could have could have negative consequences for good drivers

Association warns about issues with proposed agency licensing in Manitoba

Auto theft figures dip but remain well above historical levels

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Flash

Alberta rate cap could have could have negative consequences for good drivers

Association warns about issues with proposed agency licensing in Manitoba

Auto theft figures dip but remain well above historical levels

Lessons learned from the Crowdstrike outage

P&C Insurance

Many companies unaware of legislated cyber obligations

Mutual recognition pilot project for trucking sector could boost economy

New mortgage rules likely to boost insurance market

Investment in cyber resilience on a downward trend

Home insurance

Aviva Canada's profit declines 10% in the first half of 2024

Desjardins reports 152% surge in insurance surplus earnings for the second quarter

iA Financial Group reports 5% increase in net income for second quarter of 2024

Intact nearly triples profit in Q2 2024

CO-OPERATORS

Critical illness insurance: cancer and heart attack dominate claims

Co-operators General reports $96 million profit in second quarter

Insurers should abandon fossil fuels, say investors

AIG continues restructuring by selling travel insurance portfolio

Distribution

CEOs say environmental, social and governance issues are their top priority

Industry association calls out federal health minister over Pharmacare

Ontario consults on auto insurance reforms

Understand your clients’ unconscious biases to help them make better decisions

Special risks

Agent sanctioned for suitability concerns and poor record keeping

Canadians struggling with burnout are less likely to view their employers favourably

Debt rises but insurance protection fails to keep pace

Businesses increasingly targeted by fraudsters

Strategy

Individual advice rules are hampering household planning

Investment industry contributed 2.1 per cent to national gross domestic product in 2023

Life and health insurers paid out a record amount in benefits in 2023

Life insurance: New annualized premiums up 10 per cent in the second quarter of 2024

Damages

Calgary hailstorm second costliest insured event in Canadian history

Jasper wildfire drives insured losses even higher

Electric vehicle repair costs rise

Aging infrastructure leading to increased losses

Losses

Volume of insurance claims threaten auto insurance availability in Alberta

Hurricane Debby event is the costliest in Quebec’s history

U.S. liability risks expanding rapidly

Who is most likely to commit insurance claims fraud?