Topic
Employment
You’re probably working too much while at home
June 25, 2020 by Adam MalikEmployees are working longer and harder in a COVID-19 world than they did before, and it’s raising concerns about burnout — especially when many aren’t making vacation plans, according to a number of recent studies. A recent survey showed that…
CU Webinar: Industry execs to discuss impact of economic recession on Canada’s P&C industry
June 12, 2020 by David GambrillWay back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus…
Opinion: How COVID-19 is changing the P&C talent landscape
June 3, 2020 Michael Vecchio, SevenstepThe coronavirus pandemic could end up having a positive effect on the property and casualty insurance industry when it comes to finding new talent. COVID-19, the disease caused by the virus, has had a strong impact on the insurance industry…
Bank of Canada keeps key rate target on hold, expects return to growth in Q3
June 3, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – The economy appears to have avoided a worst-case scenario due to the COVID-19 pandemic, the Bank of Canada said Wednesday as it kept its key interest rate steady at its lower bound. The bank left its target for…
Q&A: Business Continuity in the Digital Age
May 26, 2020 by David GambrillMore than 3 million Canadians lost their jobs in March and April due to the business closures to reduce the spread of the novel coronavirus. An Angus Reid poll published in March suggested that 44% of Canadian households reported lost…
How to manage the immediate COVID-19 fallout while preparing for a post-pandemic future
April 22, 2020 by Jason ContantIndustry leaders should begin preparing right now for the post-pandemic business environment, while still managing the immediate fallout of COVID-19, two partners of a strategy consulting firm said recently. This includes spending time envisioning the future, developing a strategy to…
Small businesses seek rapid rent relief measures as Trudeau promises more support
April 16, 2020 Ian Bickis - THE CANADIAN PRESSTORONTO – Small businesses are hoping for promised rent relief from both landlords and government as the COVID-19-related shutdown drags on and their bills pile up. The urgency comes as some landlords have already started issuing eviction notices for businesses…
The impact of dire unemployment on P&C
April 15, 2020 by Adam MalikGeorge Hodgson was blunt in his observation of what would happen if fears of a 25% unemployment rate come true in his province. “It’ll be horrendous,” the CEO of the Insurance Brokers Association of Alberta told Canadian Underwriter of the…
Economic downturn from COVID-19 will be sharpest on record, Bank of Canada warns
April 15, 2020 The Canadian PressOTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The…
Nearly 5.4 million receiving emergency federal aid as requests climb
April 13, 2020 The Canadian PressOTTAWA – The federal government says nearly 5.4 million Canadians are now receiving emergency aid to replace incomes lost due to COVID-19. The figures this morning show 5.38 million applications have been processed since March 15, a figure that includes…
How Aviva is responding to dentists’ COVID-19 claims
April 2, 2020 by Greg MeckbachAviva Canada is promising guidance to dentists who want to submit claims arising from provincial government orders shutting down non-essential services. Aviva writes TripleGuard, a property and casualty insurance product for dentists provided by CDSPI, originally known as Canadian Dental…
How Canada’s P&C industry will weather the economic storm from COVID-19
April 1, 2020 by Jason ContantCanada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus…