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News InsuranceMarkets / Coverages

Welcome news for employee benefit providers in Canada

October 24, 2018 by Jason Contant

Employer medical cost inflation in Canada is trending lower than global averages, which is “welcome news for employers providing employee benefits in Canada,” commercial brokerage Aon said Tuesday. For the second year in a row, medical cost inflation in Canada

News BrokersClaimsInsuranceMarkets / Coverages

Signs of the hardening market in property lines

October 23, 2018 by Jason Contant

One multi-location brokerage in Nova Scotia is seeing hardening of property lines in the province, in line with a recent spike in property claims ratios across the country. Canadian federally regulated insurers have incurred $5.5 billion in property claims up

News BrokersInsuranceMarkets / Coverages

Why this brokerage doesn’t focus on performance-based compensation

October 22, 2018 by Jason Contant

Creating competition in the workplace is not a good environment for growing teamwork and is one of the reasons an independent insurance brokerage in Nova Scotia doesn’t focus on performance-based compensation. “Our notion on compensation is that we are trying

News InsuranceMarkets / CoveragesTechnology

What small business clients value about cyber insurance

October 21, 2018 by Jason Contant

Small business clients gravitate to cyber insurance not for the insurance, per se, but for the accompanying services following an incident, a cyber underwriter said recently. “If you think about it in the context of car insurance, they’re buying their

News Legislation / RegulationMarkets / Coverages

Why clients need advice on ‘litigation hot spots’

October 21, 2018 by Greg Meckbach

Commercial brokers advising Canadian clients with operations in foreign countries need to understand consumer protection and pollution laws in those countries. “It’s up to a broker to make sure that he or she is well versed in what those countries’

News BrokersInsuranceMarkets / Coverages

Brokers need to intensify lobby on auto file: Intact president

October 18, 2018 by David Gambrill

Facing an imminent hard market in auto insurance lines, brokers need to intensify their lobbying efforts to inform Ontario MPPs about the pricing issues associated with the auto insurance product, a senior executive of Canada’s largest insurer told brokers Thursday.

News AdjustersClaimsInsuranceMarkets / Coverages

Crawford’s Top 3 claim loss predictions from marijuana legalization

October 18, 2018 by Jason Contant

Claims adjuster Crawford & Company (Canada) Inc. sees auto, commercial and workplace-related losses as the Top 3 claims arising from the legalization of marijuana. Auto losses related to cannabis usage; commercial losses to cannabis producers, retailers and distributors; and employee

News InsuranceMarkets / CoveragesTechnology

How brokers should define cyber to clients

October 16, 2018 by Jason Contant

Cyber insurance needs to be explained using plain language, rather than by “insurance people using insurance-isms,” a large cyber underwriter said recently. “Part of the problem with cyber is the fact that it’s called cyber,” said Andy Holmes, chief underwriter

News BrokersInsuranceMarkets / Coverages

Why cyber insurance discussions should include real estate agents

October 15, 2018 by Jason Contant

Brokers scoping out new leads for selling cyber should consider this new opportunity in the professional class: real estate agents. Real estate agents move large sums of money when houses are selling. There is also typically a time cluster when

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Are commercial lines going direct?

October 7, 2018 by Jason Contant

Commercial lines may be moving more toward a direct model, a property and casualty insurance industry analyst suggested recently. “It’s interesting to see commercial lines moving toward the direct model, which we haven’t really seen,” said Philip Heywood, a partner

News BrokersInsuranceMarkets / Coverages

Is this the beginning of the end of a soft commercial market in Canada?

October 4, 2018 by Jason Contant

The commercial insurance market in Canada may be starting to see indications of premium rate hardening, Hub International Canada president Tina Osen told Canadian Underwriter recently. “It hasn’t all hit yet, so I want to be clear on that,” Osen

News InsuranceMarkets / CoveragesProducts

How SSL Endeavour is streamlining access to the Lloyd’s market

October 3, 2018 by David Gambrill

SSL Endeavour in Canada is streamlining access to the Lloyd’s market by rolling out its Advantage claims management platform, allowing Canadian coverholders and TPAs to input claims data directly into London’s central systems. Streamlining the claims process is a priority