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News InsuranceMarkets / CoveragesTechnology

Why management experience is so important for blockchain insurance

August 24, 2018 by Jason Contant

Given that “there are no 10-year-old blockchain companies” in an industry that relies heavily on historical data, how do insurers assess a submission for insurance related to the distributed ledger? Just like you would for any type of “traditional insurance”:

News InsuranceMarkets / Coverages

Why insurers want P&C group insurance in Quebec

August 24, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) is calling for the creation and regulation of P&C group insurance in Quebec. P&C group insurance allows for a number of people, or a group, to be insured in a single contract. For example,

News BrokersInsuranceMarkets / CoveragesProductsRisk

Hub’s Top 3 pot risks

August 23, 2018 by Jason Contant

As cannabis comes closer to being legalized in Canada, Hub International told Canadian Underwriter the three major risks the brokerage has faced while writing cannabis insurance for the past four years. One of them is cash-on-hand, meaning pot producers have money

News InsuranceMarkets / CoveragesTechnology

Why you’ll have trouble finding D&O insurance for clients using blockchain

August 23, 2018 by Jason Contant

Brokers looking to place directors and officers (D&O) insurance coverage for clients involved with blockchain or digital assets will not have an easy time finding the coverage, since there is a limited underwriting appetite for it. “It’s definitely feasible, and

News BrokersInsuranceMarkets / CoveragesMGAs

Look to utilities, retailers for cyber sales opportunities, suggests new survey

August 22, 2018 by Jason Contant

If you’re looking to sell cyber coverage to big business, focus your efforts on utilities and retailers, suggest the results of a recent survey. The survey of companies with 500 or more employees also found that a growing number of

News Earnings / RatingsInsuranceMarkets / Coverages

Signs of a hardening commercial market

August 20, 2018 by Greg Meckbach

Shopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond

News Markets / CoveragesTechnology

Which insurance lines will blockchain transform?

August 17, 2018 by Jason Contant

As the hype around blockchain continues and it looks increasingly like the technology is here to stay, insurers are taking a closer look and seeking to create coverages to respond to this evolving market. Blockchain currently has a variety of

News Markets / CoveragesMGAsRisk

Diversity critical for MGA entering Quebec market

August 17, 2018 by Jason Contant

For Canadian managing general agents, maintaining a diversified portfolio and effective distribution channel for products is crucial to success, according to Gary Hirst, president of CHES Special Risk. Hirst spoke to Canadian Underwriter Thursday, one day after CHES announced it

News InsuranceLegalMarkets / Coverages

Directors’ liability at issue in challenge to environmental protection order

August 17, 2018 by Greg Meckbach

A Saskatchewan company facing a possible fine of $1 million arising from an alleged environmental offence could have its case heard by the Supreme Court of Canada. The case centres around the validity of an environmental protection order. In Canada,

News LegalMarkets / Coverages

Court allows Just for Laughs founder to appeal class-action sexual harassment lawsuit

August 17, 2018 Stephanie Marin - THE CANADIAN PRESS

MONTREAL – Quebec’s top court will allow Just For Laughs founder Gilbert Rozon to appeal a decision that authorized a class-action lawsuit brought against him by several women for alleged harassment and sexual assault. Quebec Court of Appeal Justice Mark

News InsuranceMarkets / Coverages

Hub introduces new cannabis insurance and risk services for Canada

August 15, 2018 by Jason Contant

Global insurance brokerage Hub International announced Wednesday that it has launched cannabis insurance and risk services for the Canadian market. The offering, under Hub’s agribusiness and farm specialty practice, is also available in the United States. It provides medical and

News Markets / Coverages

Should Canada reconsider how it finances wildfire suppression?

August 13, 2018 by Jason Contant

As hundreds of wildfires burn across British Columbia, one disaster mitigation expert is recommending that Canada reconsiders how it finances fire suppression costs. Last year, B.C. alone paid out more than $560 million in fire suppression costs, and it is