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Brokers optimistic after Intact’s new Canadian boss takes the helm, CU poll suggests

January 28, 2018 by David Gambrill

Canadian brokers are optimistic about recent leadership changes at Intact Insurance, their faith based on the new president’s past connections with the broker channel, a Canadian Underwriter poll reveals. Louis Gagnon, Intact’s new president of Canadian operations, is a prominent

News InsuranceLegislation / RegulationMarkets / Coverages

Electronic pink slips remain elusive in Ontario

January 26, 2018 by Jason Contant

Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), is still working towards allowing electronic proof of automobile insurance (EPAI) in the country’s most populous province, but a launch date is still to be determined, a FSCO spokesperson told

News InsuranceMarkets / CoveragesTechnology

Are your cyber clients ‘red-teaming?’

January 26, 2018 Greg Meckbach, Associate Editor

Brokers placing cyber insurance should advise their commercial customers that it’s not enough to just have a plan to respond to computer security breaches — they need to test the plan, or “red-team” it. “An incident response plan is not

News InsuranceMarkets / CoveragesTechnology

Pilotless planes on the horizon if public acceptance grows, say experts

January 26, 2018 Ross Marowits - THE CANADIAN PRESS

MONTREAL – Canadians may not be quite ready to fly on a pilotless aircraft but technological advances in self-driving vehicles are already opening the door to autonomous commercial flight, an increasingly attractive prospect for industry players facing a dearth of

News InsuranceMarkets / CoveragesTechnology

Real-time data exchange within reach for first notice of loss

January 25, 2018 by David Gambrill

The Toronto Insurance Conference (TIC) has announced the rollout of the Data Exchange Model (Dx) Initiative, a proof of concept for real-time integration between an insurer technology platform and a broker management system (BMS) platform. TIC has partnered with RSA,

News InsuranceLegislation / RegulationMarkets / CoveragesTechnology

First Canadian insurance regulator approves electronic pink slips

January 25, 2018 by Jason Contant

The Office of the Superintendent of Insurance of Nova Scotia has become the first regulator in Canada to permit electronic proof of auto insurance (EPAI). Earlier this month, the provincial superintendent of insurance, William Ngu, released a bulletin outlining the

News InsuranceMarkets / CoveragesProductsTechnology

What is creating confusion in the cyber insurance market?

January 25, 2018 by Jason Contant

The lack of understanding around what is covered and how products are priced continues to sow confusion in the cyber insurance market. Robin Shufelt, assistant vice president of technology and cyber with The Sovereign General Insurance Company (a member of

News LegalMarkets / Coverages

Home inspector out $13,000 for leaky foundation advice

January 25, 2018 by Greg Meckbach

A home inspector was successfully sued for more than $13,000 in British Columbia for not advising buyers of a leaking Chilliwack home to fix foundation cracks. In a ruling released Monday, Provincial Court of British Columbia Justice Kenneth Skilnick ruled

News InsuranceMarkets / Coverages

MGAs being asked to place more standard commercial risks

January 25, 2018 by Greg Meckbach

Brokers are finding it more difficult to place some standard commercial risks, such as property and liability, and this is changing the managing general agent market, an official with a new MGA association says. “A number of the standard market

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Plane ‘too heavy:’ Passengers in Fond du Lac crash file class action lawsuit

January 25, 2018 The Canadian Press

FOND DU LAC, Sask. – Survivors of a plane crash in a remote community in northern Saskatchewan have filed a class-action lawsuit alleging the airline was negligent. The claim against West Wind Aviation and Athabasca Basin Development, the airline’s majority

News InsuranceMarkets / Coverages

What if the Alaskan earthquake happened in Canada?

January 24, 2018 by Jason Contant

A recent earthquake off the coast of Alaska, which prompted a brief tsunami warning for British Columbia, resulted in no immediate reports of damage — but what if it did strike Canada’s westernmost province? A 2013 study by catastrophe modelling

News InsuranceMarkets / CoveragesTechnology

The cyber extortion threat that your policies may overlook

January 24, 2018 by Jason Contant

A new cyber threat has emerged and it’s something that cyber insurance policies may not even cover. Proactive extortion occurs when a cybercriminal contacts a selected company, by email or even “snail mail,” and informs the company that it has