Topic
Markets / Coverages
How E&O needs to change for emerging tech companies
September 20, 2019 by Jason ContantDoes a one-size-fits-all basic tech errors and omissions (E&O) policy that covers things like breach of contract or negligence still suffice for an emerging tech company? “Most probably not,” said Charlie Murray, international technology team leader with specialist insurer CFC…
This is how hard the Lloyd’s market has become
September 19, 2019 by Greg MeckbachInsurance rates on renewal are up nearly 4% in the Lloyd’s market, which has returned to profitability. “While market conditions generally remain at historically competitive levels, price increases have been witnessed across all major lines, most notably in property and…
Does product innovation require a change in coverage?
September 13, 2019 by Jason ContantRemarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel…
Taxi companies want B.C. Supreme Court to quash ride-hailing rules
September 5, 2019 The Canadian PressVANCOUVER – A coalition of nine taxi companies in Metro Vancouver has asked the B.C. Supreme Court to quash ride-hailing rules it says were illegally created for companies such as Uber and Lyft. The companies say in their petition that…
Aviva Canada takes the plunge into cross-border business
September 4, 2019 by Adam MalikWith the introduction of its new Global Corporate and Specialty (GCS) team, Aviva Canada is setting its sights on Canadian companies doing cross-border business in the United States. The GCS team will offer coverage in five key areas: corporate risk,…
Alberta axes 5% cap on auto rate hikes
September 3, 2019 by Greg MeckbachThe 5% ceiling on Alberta auto rate increases is history, but that does not mean the sky is the limit. “Allowing [the 5%] limitation to expire is necessary to ensure a sustainable industry that can best serve the needs of…
Three reasons why healthcare is often the target of cyberattacks
August 21, 2019 by Jason ContantIf your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more…
How brokerage commissions are trending in today’s market
August 21, 2019 by Jason ContantWhat are the trends in brokerage commissions in the Canadian P&C insurance space? Brokerage compensation arrangements have definitely tightened, with average producer compensation closer to 33% to 35%, plus benefits, a P&C transaction advisor told Canadian Underwriter Tuesday. “This might…
Another casualty of the hardening market
August 8, 2019 by Jason ContantAs the market continues to harden, one brokerage in Ontario is seeing reduced appetite from carriers to write tenant insurance. “There’s more demand for renters insurance and a lot of our markets don’t seem to want to write renters insurance,”…
Large brokerage acquires online comparison platform
August 6, 2019 by Jason ContantLarge brokerage Lussier Dale Parizeau (LDP) is continuing its goal of becoming a “one-stop shop” for all of its clients needs with the acquisition of a brokerage that offers an online insurance comparison platform. LDP president and chairman of the…
What you’re telling clients by not cross-selling
August 2, 2019 by Jason ContantSales and customer service staff – whether they are in the broker or direct distribution channel – need to understand that by not cross-selling, they are passively indicating to a client that they’re better-served having their business elsewhere, a Wawanesa…
What’s at the heart of today’s hardening market cycle
August 1, 2019 by Jason ContantThe origin of today’s hardened market cycle is a natural evolution of a very long soft market cycle, a senior risk manager told Canadian Underwriter recently. “I really believe that we had a soft market that lasted too long,” said…