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Markets / Coverages

News Markets / Coverages

This is how hard the Lloyd’s market has become

September 19, 2019 by Greg Meckbach

Insurance rates on renewal are up nearly 4% in the Lloyd’s market, which has returned to profitability. “While market conditions generally remain at historically competitive levels, price increases have been witnessed across all major lines, most notably in property and

News InsuranceMarkets / CoveragesProducts

Does product innovation require a change in coverage?

September 13, 2019 by Jason Contant

Remarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel

News InsuranceMarkets / CoveragesTechnology

Taxi companies want B.C. Supreme Court to quash ride-hailing rules

September 5, 2019 The Canadian Press

VANCOUVER – A coalition of nine taxi companies in Metro Vancouver has asked the B.C. Supreme Court to quash ride-hailing rules it says were illegally created for companies such as Uber and Lyft. The companies say in their petition that

News BrokersInsuranceMarkets / Coverages

Aviva Canada takes the plunge into cross-border business

September 4, 2019 by Adam Malik

With the introduction of its new Global Corporate and Specialty (GCS) team, Aviva Canada is setting its sights on Canadian companies doing cross-border business in the United States. The GCS team will offer coverage in five key areas: corporate risk,

News Markets / Coverages

Alberta axes 5% cap on auto rate hikes

September 3, 2019 by Greg Meckbach

The 5% ceiling on Alberta auto rate increases is history, but that does not mean the sky is the limit. “Allowing [the 5%] limitation to expire is necessary to ensure a sustainable industry that can best serve the needs of

News InsuranceMarkets / Coverages

Three reasons why healthcare is often the target of cyberattacks

August 21, 2019 by Jason Contant

If your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more

News BrokersInsuranceMarkets / Coverages

How brokerage commissions are trending in today’s market

August 21, 2019 by Jason Contant

What are the trends in brokerage commissions in the Canadian P&C insurance space? Brokerage compensation arrangements have definitely tightened, with average producer compensation closer to 33% to 35%, plus benefits, a P&C transaction advisor told Canadian Underwriter Tuesday. “This might

News BrokersInsuranceMarkets / Coverages

Another casualty of the hardening market

August 8, 2019 by Jason Contant

As the market continues to harden, one brokerage in Ontario is seeing reduced appetite from carriers to write tenant insurance. “There’s more demand for renters insurance and a lot of our markets don’t seem to want to write renters insurance,”

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Large brokerage acquires online comparison platform

August 6, 2019 by Jason Contant

Large brokerage Lussier Dale Parizeau (LDP) is continuing its goal of becoming a “one-stop shop” for all of its clients needs with the acquisition of a brokerage that offers an online insurance comparison platform. LDP president and chairman of the

News BrokersInsuranceMarkets / Coverages

What you’re telling clients by not cross-selling

August 2, 2019 by Jason Contant

Sales and customer service staff – whether they are in the broker or direct distribution channel – need to understand that by not cross-selling, they are passively indicating to a client that they’re better-served having their business elsewhere, a Wawanesa

News BrokersInsuranceMarkets / CoveragesRisk

What’s at the heart of today’s hardening market cycle

August 1, 2019 by Jason Contant

The origin of today’s hardened market cycle is a natural evolution of a very long soft market cycle, a senior risk manager told Canadian Underwriter recently. “I really believe that we had a soft market that lasted too long,” said

Feature Markets / Coverages

Corporate Headwinds

August 1, 2019 Jeff Buckstein

Corporate boards in Canada face different exposures today than they did in the past. How has D&O insurance changed to help boards face these new challenges?