Topic
Markets / Coverages
P&C People: Who’s doing what
December 21, 2017 by Canadian UnderwriterNew CEO for Manitoba Public Insurance The Government of Manitoba has announced that Benjamin Graham will become the new president and CEO of Manitoba Public Insurance (MPI), effective Feb. 1, 2018. Manitoba Premier Brian Pallister made the announcement in a…
Broker predicts banks will soon renew call to sell insurance in branches
December 21, 2017 Greg Meckbach, Associate EditorWith the federal Bank Act up for review in 2019, a Montreal-based broker is warning that some banks will try to have the government change a law restricting the way banks can sell property and casualty insurance. “I am sure…
Eastern Canadian earthquake risk a “huge opportunity” for industry
December 21, 2017 Greg Meckbach, Associate EditorComplacency about real risks, such as an earthquake affecting Eastern Canada, present a “huge opportunity” for insurance providers to educate consumers, a former Economical Insurance CEO said Monday. “Human beings really don’t like thinking about the bad things that could…
Weather service warns that black ice making Nova Scotia roads treacherous
December 21, 2017 The Canadian PressHALIFAX – Environment Canada has issued a special weather statement for Nova Scotia warning of black ice forming on roads around the province. The weather service said rain that fell on highways and roads across the province overnight had been…
Top court finds auditor liable for failing to detect white-collar crime
December 20, 2017 by Canadian UnderwriterAuditing firm Deloitte must pay $40 million in damages to a Canadian broadway musical company whose founders perpetrated a fraud that the auditor failed to detect, the Supreme Court of Canada ruled in a divided decision released Wednesday. Canada’s highest…
Why U.S. brokerage made its first Canadian P&C acquisition
December 20, 2017 Jason Contant, Online EditorDalton Timmis Insurance Group’s technological capabilities and its “unique abilities” in motorcycle and transportation insurance were among the factors that made it an ideal acquisition target for U.S. brokerage NFP Corp., the president of NFP in Canada said Wednesday. Marty…
Tool can help insurers ensure document authenticity
December 20, 2017 Jason Contant, Online EditorAn Ontario-based property inspection and analysis company will soon publicly launch a product that could help carriers verify the authenticity of an insured’s photos, files and forms. The Image and Document Upload System (IADUS) uses specific features to help insurance…
Why insurance professionals should offer wealth management solutions
December 20, 2017 Greg Meckbach, Associate EditorProperty & casualty insurance providers wanting to improve client retention could offer more “holistic advice” and better “product density” by offering wealth management, some insurance executives say. Brokerages can provide a “broader value proposition” to clients by offering them home,…
Regulator weighs in on disputed ridesharing claims
December 20, 2017 David Gambrill, Editor-in-ChiefDisputes among Ontario auto insurers, arising from collisions involving vehicles used for multiple ridesharing providers, will likely be handled in the same way insurers handle priority disputes in accident benefits claims, Ontario’s insurance regulator told Canadian Underwriter Wednesday. Aviva Canada…
Economic losses top US$300 billion in 2017
December 20, 2017 by Canadian UnderwriterInsured losses from natural catastrophes in 2017, at more than US$130 billion, were more than double the average of the previous 10 years, and more than US$90 billion in losses is probably from three hurricanes alone, Swiss Re said Wednesday.…
Tougher laws a mere distraction for cell-using drivers
December 19, 2017 by Canadian UnderwriterDistracted driving offences in Saskatchewan were at an all-time high in November 2017, despite the government’s attempts to toughen the laws around driving with a cellphone. “Police reported a whopping 636 distracted driving offences during the November [Traffic Safety Spotlight],…
MGAs launch their own made-in-Canada trade forum
December 19, 2017 Jason Contant, Online EditorA new trade forum for managing general agents (MGAs) has been launched in Canada to help address changes in the market. The Canadian Managing General Agents forum (CAMGA) is an attempt to draw MGAs together and will provide an opportunity…