Topic
Insurance
INNOTECH Advisory Committee Continues Momentum as Proposed Solutions Discussed at Second Working Group Session
January 28, 2020 by CSIO (Centre for Study of Insurance Operations)Toronto, ON, January 28, 2020/InsPress/ – The momentum of the CSIO INNOTECH Advisory Committee continues with another productive working session held on January 17. The purpose of this session was to focus on the major operational issues and challenges discussed…
Ottawa’s latest response to calls for government flood insurance
January 27, 2020 by Greg MeckbachIt’s been three years since brokers called for a government backstop for residential flood losses, but Ottawa is not specifically committing to any particular model of government-run insurance for homes at high risk of flood. At the moment it is…
Why eastern Canadian quakes may be stronger than you think
January 27, 2020 by Jason ContantMajor improvements in Canada’s proposed 2020 seismic hazard model means that there is an increased earthquake hazard all across Canada, including up 50% in some places. “The big change we’ve made in the 2020 model for eastern Canada has really…
Three-year ban for broker convicted of misappropriating more than $16,000
January 27, 2020 by David GambrillThe former branch office manager of a B.C. brokerage has been banned from being a broker for a minimum of three years after she was convicted for misappropriating more than $16,000 of Insurance Corporation of B.C. (ICBC) funds for personal…
Saskatchewan posts lowest number of road fatalities since records started
January 27, 2020 The Canadian PressREGINA – Saskatchewan’s Crown insurer says fewer people were killed on the province’s roads in 2019 than in any year since records started being kept in the 1950s. Saskatchewan Government Insurance says preliminary statistics indicate 71 people were killed in…
Sedgwick makes key hires in Ontario, drives growth in Kingston region
January 27, 2020 by SedgwickKINGSTON, ON, Jan. 27, 2020/InsPress/ – Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced two new additions to their Ontario team who strengthen the company’s local presence in the Kingston area. Marc Dubois…
Are your commercial clients budgeting for a hard market?
January 24, 2020 by Greg MeckbachAs commercial insurance prices increase, you could have customers who literally have not factored new rates into their budgets. “We have an understanding, clearly, that there are risk managers and [chief financial officers] of companies that maybe didn’t budget for…
How tech has changed what it means to be an independent adjuster
January 24, 2020 by Adam MalikYears ago, an adjuster would be sent out to look at a claim after a client put their pot fresh off the stove directly on their linoleum countertop, leaving a round burn mark. Compare that to today, when a $50,000…
Why these homeowners lost their negligence lawsuit against a Hub brokerage
January 24, 2020 by Greg MeckbachBritish Columbia’s top court recently sided with a Hub International brokerage in a case in which a client sued the brokerage and the insurer for coverage that was denied because a building damaged by fire contained a legal medical marijuana…
Why brokerage M&A in Canada will slow down in 2020
January 24, 2020 by Jason ContantLooking at the number of brokerage acquisitions already in January, you wouldn’t think merger and acquisition (M&A) activity is slowing down. But earlier this month, Willis Towers Watson reported that the global M&A market, with performance in steady decline since…
Ridesharing insurance takes centre stage as Uber, Lyft approved in B.C.’s Lower Mainland
January 24, 2020 by Jason ContantVICTORIA – Vancouver is poised to join most major cities in Canada in offering ride-hailing services with the long-awaited approval Thursday of licences for companies Uber and Lyft to operate in British Columbia’s Lower Mainland and Whistler. The independent Passenger…
Data collection itself won’t turn you into Spotify – how using the data might
January 23, 2020 by David GambrillThere will come a time when data-enabled learning, as featured in artificial intelligence, will become a “table stakes” component of P&C insurance products — but collecting mass amounts of consumer data won’t always give your company a competitive advantage. Who…