Topic
Products
Open banking in Canada could help insurers with credit scoring
January 20, 2021 by Greg MeckbachOpen banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,…
How the pandemic will change insurers’ medical assessments
September 23, 2020 by Greg MeckbachThe COVID-19 pandemic has prompted some insurers’ medical examiners to consider virtual exams instead of in-person exams when the examiner needs to speak with the claimant. “We work with a number of firms that provide independent medical assessments and evaluations…
Nissan recalls nearly 1.9M cars for pesky hood latch
June 4, 2020 Tom Krisher - THE ASSOCIATED PRESSDETROIT – 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…
How COVID-19 is ramping up insurance needs for telemedicine
April 22, 2020 by Jason ContantCOVID-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…
Why Hub bought Morneau Shepell’s benefits consulting practice
March 11, 2020 by Jason ContantHub 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…
Should you outsource your response to silent cyber?
February 28, 2020 by Jason ContantSome 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…
How active assailant attacks are redefining terrorism insurance
February 10, 2020 by Jason ContantAttacks 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…
How insurers will make their cyber products better in the future
January 23, 2020 by Jason ContantCyber 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…
Sonnet launches group insurance offering
December 26, 2019 by Jason ContantOnline 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…
What these ‘non-traditional’ insurance products will look like
November 19, 2019 by Greg MeckbachAs 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…
How parametric insurance is being used for flight delays
November 7, 2019 by Jason ContantCanadian 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…
This regulator’s new approach to innovation
October 11, 2019 by Jason ContantOntario’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…