Topic
Markets / Coverages
This line of business has grown an estimated 20% since last year
November 11, 2019 by Jason ContantHow much has the demand for M&A transaction insurance grown in Canada? “While we do not have specific statistics, we estimate that demand has grown in the Canadian market at least in line with the broader Americas region at 20%…
How parametric insurance is being used for flight delays
November 7, 2019 by Jason ContantCanadian travel insurance provider TuGo has launched a complimentary flight delay service for travellers. The parametric insurance solution MyFlyt comes through a partnership with Ireland-based Blink, the travel insurtech that developed the product. If a flight is delayed by two…
Government services affected by weekend ransomware attack
November 4, 2019 The Canadian PressIQALUIT, Nunavut – Crucial Nunavut government services from health to justice were still impaired Monday after a weekend cyberattack locked out civil servants from access to electronic information. “We are working non-stop to resolve this issue,” said Premier Joe Savikataaq…
Insurers reveal a popular attack of choice for cyber-criminals
November 1, 2019 by Jason ContantAnother insurer is reporting a rise in ransomware attacks. Specialist insurer Beazley said Thursday that the targeting of IT vendors by cyber criminals contributed to a 37% increase in reported ransomware incidents in the third quarter of 2019 compared to…
New brand name for MGA Encon
October 21, 2019 by Greg MeckbachEncon Group Inc. is changing its brand name to Victor Canada, the managing general agent announced Monday. Ottawa-based Encon, whose coverages include professional liability for architects and engineers and builders’ risk, is part of Victor Insurance Holdings, the managing general…
New auto insurance policy launched for borrowed vehicles
October 15, 2019 by Jason ContantQuebec’s financial regulator and an auto insurance group have announced the launch of a new auto policy designed for drivers who don’t own a vehicle. Regulator Autorité des marchés financiers (AMF) and Groupement des assureurs automobiles (GAA) said Monday the…
Canadians confused about flood risk, study finds
October 11, 2019 by Adam MalikCanadians are seemingly drowning in confusion when it comes to flood risk, according to a recent survey of 1,700 Canadians. The survey on flood risk, commissioned by RSA Canada and World Wildlife Fund Canada (WWF-Canada), produced some seemingly self-contradictory findings.…
How to explore the forgotten realm of personal cyber coverage
October 9, 2019 by Jason ContantTrying to think of a new way to broach that cyber insurance discussion with your clients? Why not highlight identity theft and fraud coverage for your personal lines clients, suggests a new research paper from the Insurance Institute of Canada.…
The emerging risk that presents an opportunity for all commercial brokers
October 4, 2019 by Jason ContantBrokers can set themselves apart by starting a conversation with clients around a relatively new type of coverage: intellectual property (IP) insurance, a specialist insurer told Canadian Underwriter recently. CFC Underwriting said it is seeing more interest in this type…
Key questions that homeowners can’t answer on their insurance application forms
October 2, 2019 by Jason ContantA recent home insurance survey found that most Canadians don’t know key details about their properties, highlighting the importance of pre-fill data for Canadian home insurance application forms. While a dozen data fields in home application forms can typically be…
Is vaping liability covered?
September 30, 2019 by Jason ContantLiability surrounding vaping is being thrust into the spotlight after a London, Ont. high school student was temporarily put on life support from a suspected “severe respiratory illness” associated with smoking electronic cigarettes. “There were lawsuits many years ago to…
Brokers leaving a lot of SME cyber business on the table: Leger poll
September 27, 2019 by Jason ContantBrokers need to do a better job of securing cyber insurance coverage for their small and medium-sized business (SME) clients, the results of a new nationwide poll conducted by Leger show. “In the last three years, has your insurance professional…