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Canadian Underwriter - December 2014


Retention Attention
Research from Accenture shows that claims experience is a key determinant in customer retention. That experience plays a powerful role in influencing customers' decisions to switch providers, but other factors, such as customer service and technology, are also important and must be considered.

Breach teach
There is a need for more information about privacy insurance in Canada. Any organization that collects, transmits or stores customer, employee sensitive personal or corporate information should consider buying the insurance, but a number of important factors must be reviewed prior to purchase.

Interrupted by Disease
An outbreak of a disease - such as Ebola, SARS, tuberculosis or measles - can put companies at risk of business interruption and lawsuits. Although property and business interruption policies generally have not covered such outbreaks, the Ebola epidemic in Africa has spurred some insurers to move forward with new coverage and others to retreat with specific related exclusions.

Pollution Solution
Brokers would be well-advised to think beyond the commercial general liability policy when it comes to the environmental exposures contractors face. Having a clear understanding of client exposures is particularly important in light of the complex legal issues, regulatory provisions and contractual requirements that could unfold.

Approaching Critical Mass?
Surveyed consumers in the United States and the United Kingdom are already collecting more data about themselves - and many are willing to share in exchange for a benefit. Beyond discounts, though, are consumers ready for a different kind of engagement and to collect new data for data-driven models?

Warming to the Cold
The forecast for the coming winter may not be as harsh as the reality of 2013, but that does not mean businesses should sit back and expect things to be fine this year. Precautions need to be taken and plans must be in place to ensure conditions do not get the best of business properties.



Moves and Views


Beyond Limits
The Nuclear Liability and Compensation Act, now being reviewed by the Senate, will ultimately increase the liability limit for operators of nuclear facilities to $1 billion, contain expanded definitions of compensable damage, provide a longer limitation period for submitting compensation claims for bodily injury, and allow Canada to become a party to the Convention on Supplementary Compensation for Nuclear Damage.

Cover Story

Options Abound
The year ahead for property and casualty insurance in Canada feels a bit like a mix of hard facts and wishful thinking. With change the only constant, is the market signalling how best to match opportunity and risk? Will the industry come up with a pleasing palette - satisfying to its customers - or do ongoing challenges threaten to produce a total mismatch?