Topic
Markets / Coverages
One important attribute required for the sale of cyber insurance
December 4, 2017 Greg Meckbach, Associate EditorAdvising clients on cyber policies “takes a level of sophistication on the broker’s side,” New Brunswick insurance defence lawyer Ryan Burgoyne told Canadian Underwriter Friday. “If you are putting yourself out to have specialized expertise in cyber liability insurance as…
New federal law may make cyber a must-have
December 4, 2017 Greg Meckbach, Associate EditorThis may be a prime time for brokers to start selling cyber insurance to commercial clients. There is still no word on when Canada will have nation-wide mandatory breach notification, but a legal cyber specialist says companies should start to…
Catastrophes likely to have “muted” effect on Canadian reinsurance pricing
December 4, 2017 Jason Contant, Online EditorReinsurance rates in Canada will likely not decrease and there may be some “upward movement in certain regions” following the historically massive catastrophes in the third quarter, MSA Research president and CEO Joel Baker suggested Monday. The catastrophes – including…
Acquisition expands brokerage’s footprint in Ontario
December 4, 2017 Jason Contant, Online EditorMcDougall Insurance & Financial is expanding its horizons, with its sights set on areas outside of its typical eastern Ontario operating range. The Belleville, Ont.-based brokerage announced on Friday that it had merged with Mink Insurance Services in Midland, Ont.,…
November auto sales fall as lower car sales offset gains in light trucks
December 4, 2017 The Canadian Press (CPSTF)TORONTO – The number of new cars and light trucks sold in Canada last month dipped lower compared with a year ago, according to sales figures compiled by DesRosiers Automotive Consultants. Total light vehicle sales fell 1.2 per cent to…
Regulator challenges rosy telematics picture
December 2, 2017 Greg Meckbach, Associate EditorCanadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably…
How Trisura’s subsidiary purchase affects brokers
December 2, 2017 Jason Contant, Online EditorTrisura Group has acquired the remaining 40% management interest in its Canadian subsidiary that holds Trisura Guarantee Insurance Company, a move intended to provide the latter entity with more access to capital. “Trisura Guarantee benefits from better and more flexible…
Province’s ridesharing law requires minimum policy limit
December 1, 2017 by Canadian UnderwriterSaskatchewan has introduced legislation allowing for ridesharing services to operate in the province, with an interesting insurance twist. The Vehicles for Hire Act requires the ridesharing company to file written evidence of a motor vehicle liability insurance policy with a…
A researcher’s take on ICBC’s low customer satisfaction scores
December 1, 2017 Greg Meckbach, Associate EditorBritish Columbia’s monopoly auto insurer has little incentive to improve customer satisfaction, and an opposition party member is slamming the ruling New Democratic Party for not implementing recommendations made in July immediately after taking power. Insurance Corporation of British Columbia…
Working from home? Careful with your client information
December 1, 2017 David Gambrill, Editor-in-ChiefBrokers need to be mindful of how they protect their clients’ information in the digital age, particularly when they transfer information to and from their office to work remotely from home. “We recognize that the digital era is upon us,…
Quebec revising winter tire rules; incentive based approach suggested for elsewhere
December 1, 2017 Sidhartha Banerjee - THE CANADIAN PRESSMONTREAL – Quebec will reportedly bring forward the mandatory date by which winter tires must be put on all vehicles in the province and also increase fines for those who don’t follow the rules. It remains the only Canadian jurisdiction…
The $300,000 bed bug risk and other bizarre home fire claims
November 30, 2017 by Canadian UnderwriterOfficials in Ohio say a 13-year-old boy trying to kill a bed bug sparked an apartment building fire that displaced eight people and caused $300,000 in damage in Cincinnati, AP reported. Officials say the fire was reported around 11 p.m.…