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How industry professionals are tackling talent recruitment

February 28, 2024 by Jason Contant

Canada’s P&C insurance industry is looking at everything from career fast-track programs to scholarships and student involvement programs to handle talent recruitment challenges. Recruitment has long been an industry challenge. In late January, the Insurance Institute of Canada, the industry’s

Expensive car wrecked on a street
News ClaimsInsurance

Why complex cars create costly problems

February 28, 2024 Philip Porado

An acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now

Illustration of a GenAI robot sitting at a desk and typing on a laptop
News BrokersClaimsInsuranceTechnology

Meet your new underwriting assistant: GenAI

February 28, 2024 by Alyssa DiSabatino

Generative AI (GenAI) won’t replace underwriters, but you can train it to be your underwriting assistant, one AI expert shared at an industry event Tuesday.  “In North America, there are quite a few insurers that are going through proof of

insPRESS Insurance

CSIO Announces 2024 Members’ Meeting and Reception Featuring Keynote Cybersecurity Speaker Andrew Kirsch, Founder and CEO of Kirsch Group

February 28, 2024 CSIO

TORONTO, ON, FEBRUARY 28, 2024/insPRESS/ – CSIO is pleased to announce its 2024 Members’ Meeting and Reception will feature a keynote address by Andrew Kirsch, Founder and CEO of Kirsch Group. The annual meeting takes place on April 18 at

Cyberattack concept
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

No evidence that RCMP data was extracted during recent cyberattack: commissioner

February 28, 2024 The Canadian Press

OTTAWA – The head of the RCMP said Tuesday there was no evidence to date that personal or operational information had been pilfered from the national police force’s systems during a recent cyberattack. “Based on information that we’ve gone through,

Inverness beach with sand dunes in Cape Breton, N.S.
News Insurance

New N.S. coastal protection plan shifts responsibility to homeowners, municipalities

February 27, 2024 Keith Doucette – The Canadian Press

HALIFAX – Nova Scotia’s new plan to protect the province’s 13,000 kilometres of coastline is an abdication of the government’s responsibility, the opposition and environmental activists said Monday. The strong criticism came swiftly after Environment Minister Tim Halman announced the

Businessman using a computer and dashboard RPA
News BrokersInsuranceTechnology

Why brokers are embracing the ‘bots

February 27, 2024 by Jason Contant

Robotic process automation (RPA) used to automate brokers’ repetitive tasks has become a much more mainstream technology over the past year or two, the co-founder of software robot tech company Quandri told Canadian Underwriter in an interview. “A couple of

Autonomous car sensor system concept for safety of driverless mode car control
News ClaimsInsurance

Safety tech in cars isn’t reducing insurers’ claims costs

February 27, 2024 by David Gambrill

Much has been made of the new electronic safety tech in cars, but it doesn’t seem to be making a dent in auto insurers’ claims costs, according to a new report by Rates.ca. “You might expect that with more safety

Saving coins to represent high cost insurance coverage for cyber attacks
News BrokersClaimsInsurance

Pricing still affects brokers’ ability to sell cyber

February 27, 2024 David Gambrill

To the surprise of no one in the broker channel, the ongoing hard market in cyber still plays a significant role in why clients decline to buy coverage. About 40% of brokers responding to a recent CU survey selected ‘Price

insPRESS Insurance

Announcing The 16th Annual ‘Big Mingle’

February 27, 2024 30 Forensic Engineering

TORONTO, ON, FEBRUARY 27, 2024/insPRESS/ – On Tues April 9, 2024, 30 Forensic Engineering will once again host one of the most anticipated insurance industry events of the year – The Big Mingle. Celebrating its 16th anniversary, the iconic and original ‘Big

insPRESS Insurance

Pario Welcomes Fire Expert Timothy Lee

February 27, 2024 SCM Insurance Services

VANCOUVER, BC, FEBRUARY 27, 2024/insPRESS/ – Pario Engineering & Environmental Sciences LP (Pario), Canada’s national provider of forensic engineering and environmental sciences services, is pleased to announce the appointment of Timothy Lee as Senior Fire Investigator. Mr. Lee’s appointment represents

Blue double exposure of money coins stacking with bar graph for financial and investment business concept.
News Insurance

Why Co-operators posted an underwriting loss in 2023

February 26, 2024 by Alyssa DiSabatino

Co-operators General Insurance Company reported an annual underwriting loss of $184 million in 2023.   This figure, which excludes discounting and risk adjustment, accounts for “a decline of $356.2 million from the underwriting gain of $171.3 million in the same period of 2022.”  Discounted estimates