Topic
Commercial Lines
How to ensure your clients’ property values are accurate amid volatility
September 26, 2022 Alyssa Di SabatinoInaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported…
How rising interest rates impact insurers’ investment decisions
September 23, 2022 Philip PoradoRecent interest rate hikes aimed at curbing inflation, and the potential for more rate hikes next year, has the insurance industry keeping an eye on its investment returns. But while the transition from a low-interest-rate environment to a higher-rate environment…
Why insurers are rethinking coverage for older machinery
September 22, 2022 Alyssa DiSabatinoAging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and…
Climate change effect on public transportation infrastructure to cost billions: financial watchdog
September 22, 2022 The Canadian PressTORONTO – Ontario’s financial watchdog says the effects of climate change are projected to cost the province an extra $1.5 billion a year on average in the next few years just to maintain public transportation infrastructure. A report released today…
CapriCMW and Rogers Insurance announce merger
September 20, 2022 by Jason ContantBritish Columbia-based CapriCMW and Alberta-based Rogers Insurance have announced that they have merged and will be known as Acera Insurance. The merger will create a company with 1,000 employees located in more than 50 offices across Alberta, B.C., Ontario and…
It’s not always wise to base coverage solely on clients’ balance sheets
September 16, 2022 David GambrillLess than one-quarter of Canadian businesses have trade credit insurance, which protects their receivables against buyer default and bankruptcies, but Intact Insurance predicts that market penetration is likely to change as the pace and size of interest rate hikes could…
Industry hasn’t done a great job of service: broker execs
September 16, 2022 by Alyssa DiSabatinoThe Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax. What’s the good news? The industry can meet and maintain service levels through collaborative…
Dozens of cyberespionage operations perpetrated against Canada since 2010: study
September 16, 2022 Jim Bronskill - THE CANADIAN PRESSOTTAWA – A new academic analysis has identified at least 75 foreign digital operations of a malicious political or industrial nature directed at Canada since 2010 – from attempts to steal COVID-19-related research to the targeting of Uyghur human rights…
WTW’s new global client exec for Canada
September 15, 2022 by David GambrillHelen DiVito is the new executive global client advocate for Canada at WTW, a global advisory, broking, and solutions company. As global client advocate, DiVito will be responsible for developing and maintaining relationships with risk and finance executives at Fortune…
How inflation can become a ‘silver lining’ for the insurance industry
September 15, 2022 Philip PoradoInterest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on…
Commercial insureds favour supply chain certainty over higher costs of goods
September 14, 2022 by David GambrillCommercial clients of the Canadian P&C industry are pragmatically accepting higher costs of goods to achieve more certainty around product and service delivery, one P&C industry executive observed. It’s a pragmatic response to a volatile world featuring war, a looming…
Post-demutualization: Definity’s plans for the future
September 13, 2022 by Jason ContantDefinity Financial Corporation is maintaining its goal of becoming a Top 5 insurance company through a combination of organic growth and M&A activity, Definity president and CEO Rowan Saunders suggested during a recent financial services conference. “One of the drivers…