Topic
Markets / Coverages
Aviva Canada’s plan to decrease its exposure in Ontario auto
August 2, 2018 by David GambrillAviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm…
Specialty rises to the Top
August 1, 2018 by Canadian UnderwriterSpecialty Lines insurance is quickly becoming the new commercial standard, thanks to the meltdown of the vanilla CGL policy. Here’s why you can expect to reach out to specialty markets more often in the future.
Where private auto insurance rates are rising the fastest in Canada
July 31, 2018 by Jason ContantOntario’s premium rates are rising the fastest among Canada’s private passenger auto insurance regimes, according to the Q2 2018 Auto Insurance Price Index from LowestRates.ca. A measure of only private passenger auto insurance regimes in Canada, the index from the…
The trick to getting blockchain to work for insurance
July 30, 2018 by Jason ContantThe trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday.…
Questions to ask clients who serve alcohol
July 30, 2018 by Jason ContantRisk managers in the restaurant and bar business need to “mine” for information from potential insureds to make sure they exercise their duty of care in serving alcohol responsibly. “From a risk management standpoint, what’s key is the insured is…
What your hospitality clients need to know about their liability limits
July 29, 2018 by Jason ContantIn the restaurant and bar business, those serving alcohol are trained to recognize the symptoms of intoxication to prevent an “overservice” problem, and subsequent liability to the business. But what happens when a customer has been drinking in multiple establishments before…
Two lesser-known risks in the restaurant industry
July 26, 2018 by Jason ContantBesides the obvious liquor liability risk in the restaurant and bar sector, risk managers should also pay attention to cyber and sexual harassment risks, says a broker with Holmes Murphy who specializes in the area. Over the past few years,…
Nova Scotia defends controversial plan to sell cannabis in liquor stores
July 26, 2018 The Canadian PressHALIFAX – Nova Scotia is defending its unique cannabis retail scheme that will sell weed in existing liquor stores amid criticisms the arrangement poses a public health risk. A Halifax psychology professor issued a news release criticizing the model, which…
How brokers can help risk managers sort out counterparty insurance
July 25, 2018 by David GambrillCourting a new business partner and relying on your counterparty’s insurance coverage to respond to a loss? For a risk manager, it’s a good idea to engage in a form of insurance “prenup” conversation with the potential business partner, says…
Travel insurance program targets those not buying through brokers
July 23, 2018 by Jason ContantSpecialized travel insurance provider TuGo has launched an Affiliate Program, a secondary distribution channel to reach travellers who aren’t currently buying products through traditional channels such as brokers. TuGo’s CEO, Patrick Robinson, told Canadian Underwriter Monday that TuGo’s Affiliate Program…
How much it cost the industry when baseball-sized hail hit western Canada
July 23, 2018 by Jason ContantA severe storm that affected parts of Saskatchewan and Manitoba in mid-June resulted in more than $90 million in insured damage, according to data released by Catastrophe Indices and Quantification Inc. (CatIQ). Strong winds and large hail – in some…
The preferred way to transfer risk of automated cars: Travelers
July 22, 2018 by Jason ContantThe public policy division of Travelers is recommending that a “clear risk transfer mechanism” be in place to adapt auto insurance for autonomous vehicles. “While there has not been widespread attention paid to how liability and compensation will be addressed as…