Insurable Interest Canadian Insurance Blog

Nanaimo, BC (Mar. 6, 2025) – Downs Construction, a proud partner with The Pro-Claim Group, is excited to announce the opening of its new office in Nanaimo, BC. This strategic expansion enables Downs Construction to extend its trusted restoration services to more residents across Vancouver Island, building on the strong foundation it has established in Victoria and Duncan. At the heart of Downs Construction’s success is its dedicated team, who bring expertise, compassion, and a relentless commitment to helping others in need. Their passion for restoring not just properties but also peace of mind has defined Downs Construction’s reputation in the industry. “We’re excited to expand our office to Nanaimo,” said Rod Absolon, General Manager of Downs Construction. “We’ve seen the positive impact our work has had in the Greater Victoria area, and we’re eager to ensure that more people up island receive the best possible experience. No one likes dealing with a flood or a fire in their home or business, and we know we’re pretty good at making the best out of a terrible situation. Our goal is simple: we just want to help people when they need it most.” With a relentless focus on excellence, Downs Construction...

Hoboken, NJ (Mar. 11, 2025) – Insurance companies now get access to over forty reference points for vehicular incidents at all speeds, plus the increased ability to identify fraud, especially at those difficult to capture low speeds. Reconstructing a crash by reading incident reports is a challenging task. With the release of SDK 8, Sfara provides the tools to better review the data leading to an incident, as well as identify fraud, even at low speeds. Sfara’s new adjustor-focused collision insights provides over forty points of reference for a crash, giving adjusters and managers the ability to quickly view data points, timelines, maps and direction of impact. Plus, Sfara is introducing declared and flagged anomalies for better identification of fraud. Anomaly detections are incidents captured by phone sensors but determined not to be a crash by Sfara’s technologies. Flagging these incidents makes it possible to review and compare reported incidents or discovered dents and scratches to actual data. Claims adjusters can now compare an incident report to flagged anomaly data without having to search through raw data feeds. If an incident is reported during a timeframe with no crash declaration or flagged anomaly data, there is reason to suspect fraud....

Toronto, ON (Mar. 11, 2025) – Crawford Technologies, a provider of innovative document solutions that streamline, improve and manage customer communications, is pleased to announce the release of Sunrise Enterprise,  the only cloud-first, real-time, omnichannel digital document conversion and delivery solution designed for large-scale enterprises. Sunrise Enterprise sets a new benchmark for transforming and delivering transactional customer communications. It enables large corporations and government entities to convert complex transactional documents, such as account statements, bills and insurance explanations of benefits, into customer-friendly formats—including PDF for web portals and responsive HTML for mobile apps—in milliseconds and scalable to hundreds of documents per second. Developed to meet the rigorous and complex transactional customer communications needs of large-scale operations, Sunrise Enterprise addresses the customer communication challenges faced by industries such as finance, insurance, telecommunications and healthcare. Its ability to deliver secure and on-demand omnichannel communications meets customer demands for real-time, personalized communications. The solution is first in its ability to offer flexible deployment options and benefits that adapt to the unique needs of the enterprise. They include: Cloud – Leverage the scalability and cost-efficiency of cloud-based deployment to handle high volumes and concurrent user demands. On-premises – Maintain control over sensitive data with...

By Stephen Applebaum and Alan Demers — Until recently, it was said that the only constant was change – now the only constant is uncertainty. Uncertainty is at a generational high in almost every aspect of our lives; socially, financially, politically, and technologically. One of the most serious consequences of this uncertainty is its impact on risk assessment across all lines of insurance. However, it also represents a major opportunity for insurers. Risk is defined as the odds or probabilities that future events can be estimated. The model of risk transfer is centuries old and thrives on predicting when and how much known exposures are likely to happen and the costs involved.  Thus, not all risks are insurable such as moral hazards where the incentives are misaligned.  Risk transfer is further disrupted when doses of uncertainty distort predictive models. Uncertainty exists when the magnitude (frequency and severity) of possible future events is obscured, making reasonably accurate forecasts unreliable. As uncertainty grows, the ability to effectively manage risk is proportionally reduced. The implications of this new normal for insurance are existential for some insurers and more expensive for all, as it becomes harder to assess and properly price risk in the...