Insurable Interest Canadian Insurance Blog

London, UK (Mar. 31, 2020) – Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, has enhanced its reinsurer trading portal, ABConnect Placements, to electronically bind treaty placements with Lloyd’s of London and International Underwriting Association (IUA) markets from 1 April renewals. The new bind feature enables Lloyd’s of London and International Underwriting Association (IUA) markets to complete and bind Aon’s treaty reinsurance placements without the need for face-to-face meetings. Andy Marcell, CEO of Aon’s Reinsurance Solutions business, said: “With the global outbreak of COVID-19, electronic and online capabilities play an even more vital role in reinsurance transactions as we adapt the way we operate to support remote working. Not only is ABConnect Placements an important part of Aon’s overall digital strategy, it has very suddenly become a critical method to place treaty business as we continue to best serve our insurer clients. It leverages our global sales technology and gives reinsurers a single platform to remotely access all treaty placements – traditional or via auction.” Nick Frankland, UK CEO of Aon’s Reinsurance Solutions business, added: “This is another breakthrough in the modernization of the London market. We are excited to...

After declaring that group health coverage will still apply to commercial truck drivers going across the U.S-Canada border, the Canadian Life and Health Insurance Association (CLHIA) has provided additional reassurance for those with their own travel health insurance policies. “Canada’s life and health insurers are confirming that commercial truckers who hold travel health insurance policies on an individual basis will not lose coverage when entering the United States,” the CLHIA said in a statement last week. The association cited new measures through which insurers can exempt commercial truckers from routine exclusion clauses that would normally be triggered by an “avoid non-essential travel” advisory by the Canadian government. In a previous announcement, the CLHIA had confirmed that commercial truckers covered by workplace or group insurance policies would get continued out-of-country medical coverage despite a federal restriction on non-essential travel to the U.S. “The situation has been less clear for truckers holding individual insurance as the insurers generally do not classify individual travel health policies by employment category,” the association said. To address this, insurers said they will ask people making claims on their individual policies to identify themselves as cross-border commercial truckers. Similarly, those applying for new life insurance will be...

Associated Press TROY, Mo. (AP) — An eastern Missouri sheriff’s department has reached a $2 million settlement with a man who spent more than three years in prison for his wife’s killing before the conviction was overturned, his lawyers said Monday. An insurance company has agreed pay the money to Russell Faria, of Lincoln County, The St. Louis Post-Dispatch reported. “He’s thrilled,” said one of Faria’s attorneys, Joel Schwartz. Lawyers for the three current and former Lincoln County Sheriff’s Department officers named in the suit did not immediately respond to requests for comment. Elizabeth “Betsy” Faria was killed in 2011. Russell Faria was convicted and sentenced to life in prison, though he insisted that the crime was committed by his wife’s friend, Pamela Hupp, who has never been charged in Betsy Faria’s killing and has denied that she did it. Faria’s conviction was overturned in 2013 and he was found not guilty at a retrial. Advertisement Meanwhile, Hupp was convicted of killing a mentally disabled man in 2016 and is now serving life in prison without parole. Faria alleged in the lawsuit that he was arrested without probable cause, that police fabricated evidence and failed to investigate Hupp. Lawyers for...

Toronto, ON (Mar. 27, 2020) – As an ‘essential workplace’, FSRA continues to carry out its regulatory duties while activating our business continuity plan. To protect the health and safety of its employees and the public, FSRA is working remotely wherever practicable. We are continuing to monitor the COVID-19 pandemic closely and have taken steps to prioritize our core functions during this period of disruption. Certain financial services such as credit unions, insurance and pension services are considered ‘essential workplaces’.  Please visit Ontario’s list of essential workplaces to determine whether your activities constitute an essential workplace and may remain open during the current COVID-19 pandemic. Even if yours is an essential workplace, please take all appropriate measures to protect the health and safety of your employees, customers and the public. The following is a summary of important updates that we are providing to our sectors: Industry Assessments Until further notice, FSRA is deferring the issuance of the following invoices for F2020-21: Fee assessments payable under FSRA’s Fee Rule 2019-01 Deposit Insurance Reserve Fund (DIRF) premiums payable under the Credit Unions and Caisses Populaires Act, 1994 The invoices already issued to insurance brokers for F2020-21 fees are withdrawn. Sectors will be advised 15...

Integrated into Willis Towers Watson’s Global Peril Diagnostic tool, risk managers can assess their COVID-19 property exposure in real-time via a new feature that tracks pandemic cases against P&C clients’ global assets Arlington, VA (Mar. 25, 2020) – Willis Towers Watson, a leading global advisory, broking and solutions company, is pleased to announce it has launched a new, real-time risk and analytics feature as part of its Global Peril Diagnostic modeling tool. The new feature provides up-to-date information on confirmed global COVID-19 cases alongside clients’ property total insured values by location. Notably, the feature enables clients to easily track developments of the pandemic set against their property assets around the world. Willis Towers Watson’s Global Peril Diagnostic tool is a sophisticated risk and analytics model that evaluates clients’ property portfolios and assesses their exposure to comprehensive catastrophe risk, inclusive of terrorism and 12 natural perils. The tool’s underlying technology can also be used for charting an employer’s head count or payroll by office location. The data and information supplied to the new feature cover China, the United States, Canada and Australia at province/state levels and the rest of the world at country level, represented by either a country’s geographical central...

Non-essential businesses in Ontario, Quebec subject to mandatory closure Toronto, ON (Mar. 25, 2020) – Crawford & Company (Canada) Inc. has announced modifications to business operations across Canada following Monday’s provincial government orders in Quebec and Ontario to close non-essential businesses and workplaces. “Crawford has been preparing for scenarios like this for several weeks and we are confident that we will be able to continue servicing our customers and their policyholders for an extended period of time while ensuring our employees remain healthy and safe,” commented Pat Van Bakel, president and chief executive officer of Crawford in Canada. Both provincial orders specifically allow for home-based work and telecommuting while identifying essential services that can continue operating under the orders. With over 90% of employees currently working in a home based environment, Crawford will continue to provide quality service on new and existing claims across Canada. The firm will continue utilizing technology such as its YouGoLook™ application, video conferencing and other tools to minimize field visits and investigate claims remotely. “We recognize there may be situations where field visits are still required to provide emergency service and support to the policyholder – starting today all field visits made by Crawford adjusters...

What Should I Know About a Disability Insurance Medical Exam (IME)? As part of an ongoing disability insurance claim, it’s common for an individual holding the policy to submit to a “disability insurance medical exam.” Typically referred to by its acronym, IME, it’s basically an independent examination by a physician who is hand-picked by the…

FAQ: Appeals & Lawsuits This case can be instructive to those who are impatient with their insurance company that seems to be taking too long to decide on their administrative appeal. What Happens if I Sue Dearborn Before They Decide on My Long Term Disability Benefit Appeal? Disability Insurance News: This case can be instructive…

Disability Insurance News: Many employer welfare benefit plans offer employees who quit their employment the option of converting their disability insurance plan to a private plan. When a claim for disability benefits is filed, there may be a dispute over whether the conversion plan is governed by ERISA. If I Convert my Former Employee Disability…

Deloitte signs on to offer employees simplified home and auto protection Toronto, ON (Dec. 17, 2019) – Sonnet Insurance, Canada’s digital home and auto insurance company, is expanding its simplified insurance experience for Canadians through a new Group Insurance offering. Sonnet has already signed on Deloitte to offer a group discount to its employees across Canada in the near future. Through the Sonnet Group Insurance offering, employees of participating companies will be provided with insurance at a discounted rate. The Sonnet experience makes it easy for employers to include home and auto insurance as part of a compelling compensation package. Home and auto insurance are meaningful parts of a healthy financial wellness portfolio, bringing peace of mind by protecting people from the unexpected. In partnering with Sonnet, employers also gain access to Sonnet Connect, a network of like-minded brands whose special offers across financial services further contribute to financial wellness. “Customers value the simplicity of Sonnet, which helps Canadians to insure their home and car in as little as five minutes, entirely online,” said Eric Marion, VP, Group Insurance at Sonnet. “We’re excited to bring this innovative home and auto insurance program to employers who are looking to build employee...