Topic
Markets / Coverages
Auto loss ratios ‘unsustainable’ in these provinces
March 29, 2019 by Greg MeckbachOntario auto insurance is profitable but loss ratios are unsustainable in Alberta and two of the Maritime provinces, Canada’s Property and Casualty Insurance Compensation Corporation notes. “Importantly for insurers, Ontario’s private passenger auto insurance market remained profitable with a loss…
How sports hazing and abuse affects insurers
March 26, 2019 by Jason ContantThere seems to be no shortage of hazing and abuse incidents in the news lately. Earlier this month, a Miami University student was allegedly hit “with a paddle with spikes and grooves,” forced to drink large amounts of alcohol and…
New insurance coverage for shared travel accommodations
March 21, 2019 by Jason ContantHas your client booked travel accommodations through platforms like Airbnb, HomeAway and Trip Advisor? If so, they are now able to get insurance coverage for trip cancellations and interruptions. CAA Travel Insurance announced Wednesday it has added a new feature…
Burns & Wilcox Canada acquires specialty MGA
March 7, 2019 by Jason ContantH.W. Kaufman Group and Burns & Wilcox Canada announced Thursday they have acquired Toronto-based TRU Transportation Risk Underwriters Ltd., a managing general agency with unique transportation expertise. TRU will become part of B&W Canada, a flagship organization of Kaufman and…
What lies behind the unexpected Alberta quake
March 6, 2019 by Jason ContantPerhaps the largest-ever earthquake to hit a section of central Alberta caused no immediate reports of damage, but knocked out power for more than 4,000 customers. Could fracking be the culprit? In this case, Alberta Energy Regulator (AER) is probing…
The insurance implications of digital healthcare
March 5, 2019 by Jason ContantAs the digital healthcare market continues to evolve, the insurance industry in Canada should consider gaps or exclusions in current policies and the need for a bespoke option. Digital healthcare will include a focus on two areas: Telemedicine – remote…
This global carrier could re-enter the Canadian retail insurance market
February 27, 2019 by Greg MeckbachSeventeen years after selling its personal lines business to the insurer now known as Intact, Zurich Canada has ambitions to re-enter the “retail” space, but it remains to be seen how it would do that or what form it would…
The latest way cyber-criminals are attacking your clients
February 25, 2019 by Jason ContantCyber criminals are adapting their methods by using ransomware in targeted extortions, often with more severe and costly results than indiscriminate attacks. Targeted extortion is when cyber criminals set their sights on a particular, vulnerable organization and look to extort…
One solution for non-damage business interruption
February 21, 2019 by Jason ContantParametric insurance can help fill a gap in some policies by covering non-damage business interruption, a speaker said Tuesday at AXA XL’s Fast Forward LIVE event in downtown Toronto. Caused by a variety of factors, including severe weather conditions, non-damage…
The two main benefits of parametric insurance
February 20, 2019 by Jason ContantSpeed is one of the main benefits of parametric insurance compared to traditional forms of insurance, with the underwriting process taking just several days to two weeks, speakers from AXA Global Parametrics in France said Tuesday. Parametrics is index-based insurance,…
The impact of hardening Lloyd’s market on Fairfax
February 20, 2019 by Greg MeckbachA tough Lloyd’s market and California’s worst-ever wildfire led to an underwriting loss for Brit Plc, which Toronto-based Fairfax Financial Holdings Ltd. acquired in 2015. Fairfax officials faced pointed questions during its recent earnings call from one analyst who suggested…
Captive insurance programs target commercial auto in Canada
February 15, 2019 by Jason ContanteCaptiv, which provides alternative and captive insurance solutions in Canada and the United States, will be forming two group captives through an exclusive group of independent insurance brokers to “combat commercial auto trends in Canada.” The programs are in the…