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News Markets / Coverages

Cannabis stores in this province face strict rules for displays and security

September 13, 2018 The Canadian Press

WINNIPEG – Store owners who will sell cannabis in Manitoba will face strict rules about how they display and secure the drug when its recreational use becomes legal next month. New rules set by the province will require that stores

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Why Quebec’s largest brokerage doubled up on life insurance

September 11, 2018 by Jason Contant

For its latest acquisition, Quebec’s largest brokerage decided to look outside its traditional stronghold of property and casualty insurance, which represents about 90% of its revenue base. On Aug. 8, Lussier Dale Parizeau announced the acquisition of Trinome Conseils. Patrice

News ClaimsInsuranceMarkets / Coverages

Vancouver’s short-term rental listings drop by half after new rules introduced

September 11, 2018 The Canadian Press

VANCOUVER – The City of Vancouver says the number of short-term rentals listed online has dropped by almost half since new rules came into effect requiring operators to have a business licence. There are 3,742 active Vancouver listings on sites

News InsuranceMarkets / CoveragesReinsurance

This reinsurer says rates need to go up

September 10, 2018 by Jason Contant

Underwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the

News InsuranceMarkets / CoveragesTechnology

Where Canada ranks worldwide in cyber breaches

September 7, 2018 by Jason Contant

The importance of obtaining cyber insurance has again hit home, following the release of a report that found by mid-2018, Canada was the country with the third most cyber incidents in the world and ninth most exposed records. Last month,

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How much buyers are willing to pay for online books of business

September 5, 2018 by Jason Contant

Buyers are pricing in potential future market disruption, such as online distribution, when buying a broker’s books of business, a P&C transaction advisor told Canadian Underwriter Wednesday. Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory said he

News InsuranceMarkets / CoveragesTechnology

Air Canada mobile app breach strikes up to 20,000 customers

August 29, 2018 The Canadian Press

MONTREAL – Air Canada says 20,000 customers may have had their personal information improperly accessed due to a breach in its mobile app, prompting a lock-down on all 1.7 million accounts until consumers change their passwords. The airline says it

Storm surge as high as 30 ft in Biloxi, Mississippi destroyed most of the structures right on the coast.
News CatastrophesInsuranceMarkets / Coverages

The exclusion that no longer applies to this home insurance coverage

August 28, 2018 by Greg Meckbach

Fifteen years after Nova Scotia was hit by Hurricane Juan, a Canadian home insurer is offering storm surge coverage in all four Atlantic Canada provinces. Storm surge is a rise in sea level resulting from atmospheric pressure changes and wind

News ConstructionInsuranceMarkets / Coverages

Paid Steering the Course: Course of Construction (COC) Insurance Options

August 28, 2018 Neil Jeanson, Senior Class Underwriter, XL Catlin

All it takes is a spark.  From a sander. Or errant cigarette.  And POW!  Igniting common, flammable construction materials like wood, solvents, packaging, and gasoline and turning a work in progress to a pile of ash.  It’s a powerful blow

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