Topic
Markets / Coverages
What does Vancouver’s new short-term rental bylaw mean for insurers?
April 23, 2018 by Jason ContantRidesharing insurance is again in the spotlight, now that the City of Vancouver has announced it is regulating short-term rentals such as Airbnb, and allowing residents to apply online for a business licence as of April 19. Vancouver City Council approved…
New opportunities for commercial brokers in cyber
April 20, 2018 by Greg MeckbachBrokers selling commercial insurance need to ask clients what they use their computers for and what happens if they lose access to that data, an executive with a Bermuda insurer says. Computer security (also known as cyber) risk, “will impact…
To cover or not to cover crime on a cyber policy
April 19, 2018 by Jason ContantDo elements of cybercrime, such as social engineering fraud and phishing scams, belong on a traditional crime insurance policy or should they be part of a cyber policy? The answer to that question depends on which carrier you ask. “There’s…
Southern Alberta community battles overland flooding again
April 19, 2018 The Canadian PressSIKSIKA, Alta. – A First Nation east of Calgary is working on making roads passable as many rural areas of southern Alberta contend with overland flooding. “Road conditions are showing signs of minor improvement and crews have now begun the…
Major flood of B.C.’s Fraser River could cause billions in economic losses: ICLR speaker
April 18, 2018 by Jason ContantA major flood of British Columbia’s Fraser River or a coastal flood between now and 2100 could trigger economic losses of between $20 billion and $30 billion, a recent flood strategy report found. Released in 2016, Phase 1 of the…
Guide to legalization predicts home-grown pot to be “biggest municipal headache”
April 18, 2018 Joan Bryden - THE CANADIAN PRESSOTTAWA – Municipalities will have to grapple with a host of thorny issues once recreational cannabis is legalized in Canada – but it’s the matter of home-grown marijuana plants that’s expected to cause them the biggest headaches. The Federation of…
When will brokers, insurers and consumers all be able to connect in real-time?
April 17, 2018 by Jason ContantWith work continuing to enable real-time data exchange between brokers and insurers, the next logical step would be to bring consumers into the fold. Pat Durepos, leader at software vendor Keal Technology, said that he sees consumer access to data…
When policy exclusion wording intersects with fraud
April 17, 2018 by Greg MeckbachThe Court of Appeal for Ontario has decided, in a divided ruling, that title insurance coverage would be “nullified” if one title insurer had its way on a claim. In 2014, Karl Nodel agreed to lend a person $1.1 million.…
Tips from an insurer for brokers selling cyber policies
April 17, 2018 by Jason ContantListening to clients’ exposures before offering them a cyber policy could go a long way in selling the right coverage, a cyber insurer told Canadian Underwriter Monday. “By asking the question: ‘What keeps you up at night and what do…
Two factors that may be contributing to ICBC’s poor fiscal performance
April 16, 2018 by Jason ContantThe combination of an unfriendly environment and “misguided provincial government policies” have contributed to the Insurance Corporation of British Columbia’s (ICBC) dismal financial performance, the Fraser Institute said in a new report. The report, titled The Decline and Fall of…
Why brokerages looking at M&A should consider management buy-outs
April 16, 2018 by Jason ContantThe market for property and casualty insurance brokerages continues to be intense, with books of business attracting prices from three-and-a-half to five times commissions – and even more for online business, Mike Berris, partner and practice group leader with Vancouver-based…
Ontario auto insurance rates up in first quarter of 2018
April 16, 2018 The Canadian PressTORONTO – Auto insurance rates in Ontario increased in the first quarter of 2018, putting the Liberal government further away from its promise to cut rates by 15 per cent. The numbers released Friday by the Financial Services Commission of…