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Nissan recalls nearly 1.9M cars for pesky hood latch

June 4, 2020 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – For the fourth time, Nissan is recalling hundreds  – of thousands of midsize cars in the U.S. and Canada to fix a nagging latch problem that may allow the hood fly open while cars are moving. The latest

News InsuranceProductsTechnology

How COVID-19 is ramping up insurance needs for telemedicine

April 22, 2020 by Jason Contant

COVID-19 has sharply increased the demand for telemedicine in Canada, and with it comes emerging risks and possible unexpected gaps in coverage for clients. Telemedicine – or using video, audio and other technologies to deliver preventive, diagnostic and treatment services

News BrokersEmploymentInsuranceMarkets / CoveragesProducts

Why Hub bought Morneau Shepell’s benefits consulting practice

March 11, 2020 by Jason Contant

Hub International’s recent acquisition of Morneau Shepell’s benefits consulting practice will allow the global brokerage to better serve the needs of both large employers and mid-market customers, the brokerage told Canadian Underwriter Tuesday. “[Morneau Shepell’s] focus on large and jumbo

News BrokersProductsReinsurance

Should you outsource your response to silent cyber?

February 28, 2020 by Jason Contant

Some insurers are specifically allocating internal resources to address silent cyber, while others are outsourcing it, speakers noted recently at NetDiligence’s Cyber Risk Summit in Toronto Feb. 21. Melinda Parker Thompson, an underwriting specialist with Allianz Global Corporate & Specialty

News InsuranceMarkets / CoveragesProducts

How active assailant attacks are redefining terrorism insurance

February 10, 2020 by Jason Contant

Attacks involving “active assailants” are on the rise, and brokers shouldn’t assume that a standard property, commercial general liability (CGL), or even terrorism policy will cover the costs of supporting and helping the victims, a specialist insurer said Wednesday. “It

News InsuranceMarkets / CoveragesProductsTechnology

How insurers will make their cyber products better in the future

January 23, 2020 by Jason Contant

Cyber insurers need to get a firmer handle on cyber claims response to be able to add value to their policies, a specialist insurer said recently. James Burns, cyber product leader with London, U.K.-based CFC Underwriting, said that the industry

News InsuranceProductsTechnology

Sonnet launches group insurance offering

December 26, 2019 by Jason Contant

Online insurer Sonnet Insurance has launched a group insurance offering, already signing on Deloitte to offer a group home and auto discount to its employees across Canada in the near future. “As Sonnet considered various approaches to scaling a profitable

News InsuranceProductsTechnology

What these ‘non-traditional’ insurance products will look like

November 19, 2019 by Greg Meckbach

As an increasing number of your clients come from cohorts younger than Generation X, the availability of non-traditional insurance products is going to increase, an insurtech industry watcher suggests. “I think we are increasingly going to see the development of

News InsuranceMarkets / CoveragesProducts

How parametric insurance is being used for flight delays

November 7, 2019 by Jason Contant

Canadian travel insurance provider TuGo has launched a complimentary flight delay service for travellers. The parametric insurance solution MyFlyt comes through a partnership with Ireland-based Blink, the travel insurtech that developed the product. If a flight is delayed by two

News InsuranceLegislation / RegulationProducts

This regulator’s new approach to innovation

October 11, 2019 by Jason Contant

Ontario’s new financial regulator wants to encourage innovation by allowing new product or distribution ideas on a trial basis. “Because if you don’t allow people to iterate… then it’s easier for them not to come in,” Mark White, CEO of

News InsuranceLegislation / RegulationProducts

This auto rating factor could give brokers a headache

September 26, 2019 by Greg Meckbach

British Columbia’s auto insurer has one rating factor that makes sense from an underwriting point of view, but could be onerous for brokers, an insurance defence lawyer suggests. The Insurance Corporation of British Columbia requires motorists in the province to

News InsuranceMarkets / CoveragesProducts

Does product innovation require a change in coverage?

September 13, 2019 by Jason Contant

Remarkable 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