Table of Contents
Canadian Underwriter -
Rise of the Drones
The property and casualty industry in Canada has some work to do to determine the complex liability and coverage issues that are likely to unfold with the anticipated increase in use of drones. Globally, however, Canada is leading the way in permitting commercial drone and mandating that insurance protection be purchased.
21st Century Brokerage
New entrants in the insurance industry demand that brokers reiterate their value as trusted advisors by delivering a differentiated level of client service. To help guard against commoditization in the marketplace, the 21st-century brokerage must continue to evolve into a digital workspace.
Canada witnessed record vehicle sales in 2013, only to be topped by sales in 2014. Still, concern over the availability of service bays and skilled workers is also on the rise. Canadian vehicle fleet and technological advancements that increase the life expectancy of vehicles, however, are expected to contribute to the growth of the aftermarket.
As Ottawa plans to increase the absolute liability on Canadian nuclear operators from $75 million to $1 billion, the association writing most of the coverage for operators is looking to deepen the pool by attracting new insurers in anticipation of more required capacity by the end of 2015.
Fitter not Fatter
Property and casualty insurers in Canada, as elsewhere, are well-advised to keep and eye out for existing and emerging risks and opportunities. But with challenges ranging from economic factors to new risk surrounding cyber security, how can insurers capitalize on opportunity?
Bringing Data Home
Sometimes seen as the "poor cousin" to auto insurance in terms of resources and investment, personal property is now a hive of activity in data analytics. Internal and external information is being used to delve into more specific by-peril rating, loss cost development and operational efficiencies.