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Brokers
2023 Executive Outlook | Abraham Baboujian, RRJ Insurance
December 16, 2022 Canadian Underwriter StaffAbraham Baboujian, president, co-CEO, RRJ Insurance Group Ltd., O/A KRGInsure Talent acquisition and retention is at the top of my priority list heading into 2023. This is not a new issue; however, recent events have magnified the importance of it.…
How switching appliances can shorten claims cycles
December 15, 2022 Philip PoradoSupply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys…
Which policyholders want EVs — and why it will cost them more in premiums
December 15, 2022 Alyssa Di SabatinoCanadian male policyholders are more interested in electric vehicles (EV) than female policyholders, according to a Deloitte survey — and this could affect their already pricier insurance rates, said RatesDotCa. Of the Canadians buying a vehicle in the next three…
Why claims adjusters face a labour force double whammy
December 14, 2022 Philip PoradoSolving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the…
Does Canada have enough hurricane data for parametric solutions?
December 13, 2022 by Alyssa DiSabatinoWhen it comes to assessing hurricane risk exposure, there’s a data gap between the U.S and Canada, said a panellist in a Canadian Underwriter webinar. “There’s definitely a gap between the U.S. and Canada,” said Carl Bernier, NatCat specialist at…
Are product liability insurers ready to face mass torts?
December 13, 2022 Philip PoradoClass action lawsuits have long been drivers of social inflation for insurers that provide product liability overage. But now a new legal vehicle, the ‘mass tort,’ looks to be waiting in the wings. Unlike class actions, in which one plaintiff…
What’s the better parametric insurance trigger for Canadian hurricanes?
December 12, 2022 by Alyssa DiSabatinoHurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar. Barometric pressure may be a better parametric trigger…
How can you improve cybersecurity? Hire more women
December 9, 2022 Camelia Radu and Nadia SmailiBy Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM). This article was originally published on The Conversation, an independent and nonprofit source…
How insurance coverage will change as Canadian hurricane risk expands
December 9, 2022 by Alyssa DiSabatinoParametric insurance is a relatively new product in Canada, and thus is not a big buy for commercial clients, but as climate change is expected to cause more hurricane events in Canada, expect this solution to get more popular north…
The real reasons behind Canada’s softer D&O market
December 9, 2022 Philip Porado“Expanded insurer appetite and competition in the primary space,” as well as new capacity in excess layers, helps explain a softening of Directors and Officers (D&O) insurance pricing and limits expansions in Canada, says a recent quarterly market insights report…
New president and CEO at Jones Deslauriers
December 8, 2022 by Alyssa DiSabatinoScott Irwin is now president and CEO of Jones Deslauriers, a Navacord broker partner. He succeeds Eric Osbourne, Jones Deslauriers’ president and CEO of 15 years, who has taken on a new role at Navacord. Jones DesLauriers is a…
This holding company’s first foray into Canadian P&C insurance
December 8, 2022 by David GambrillThe Jim Pattison Group, a holding company that does $14-billion in business, has become a minority investor in Alberta-based brokerage HighStreet Insurance Group. The strategic investment marks the entry of the holding company into the Canadian P&C insurance space. Terms…