Topic
Technology
Top 6 risks facing Canadian businesses in 2020
December 20, 2019 by Jason ContantThe risk landscape for Canadian businesses continues to evolve rapidly, but that doesn’t mean companies have to be caught unprepared. These evolving risks include everything from technology and cybersecurity to shifting regulatory considerations, reputational risk, employee liability, data and privacy…
How insurtech is bringing policyholders inside the black box of insurance
December 18, 2019 by Jason ContantInsurtech is beginning to bring policyholders inside the “black box” of insurance to understand how their decisions are influencing their own costs, said a new report on the macro themes redefining the industry. Insurtech has increased access to real-time data…
LifeLabs says data of up to 15 million customers compromised in cyberattack
December 18, 2019 Ross Marowits and David Paddon - THE CANADIAN PRESSTORONTO – Government privacy commissioners are investigating a data breach at LifeLabs, one of Canada’s largest medical services companies, after hackers gained access to the personal information of up to 15 million customers. Most of its customers are in B.C.…
Brokers should look for these three things in a cyber insurance policy
December 16, 2019 by Jason ContantCyber insurance policies still tend to be confusing for brokers, but there are three areas that they should focus on, recommends Nathan Rose, senior underwriter and business development specialist with Burns & Wilcox Canada. This includes: 1) policies that have…
Ignoring this could leave brokers on the outside looking in
December 16, 2019 by Adam MalikBrokerages that want to get ahead don’t need to look any further than one important tool: Data. And to ignore it means not only falling behind but falling off the map entirely, one expert warns. To not just provide a…
Why the auditor red-flagged a government agency’s cloud computing risk management practices
December 12, 2019 by Greg MeckbachHere is a textbook example of how your cyber clients should not be managing their risks, according to Alberta’ auditor general. The province’s auditor red-flagged the example of Travel Alberta Corporation, a provincial agency that moved most of its software…
Why you need to consider open banking
December 11, 2019 by Greg MeckbachAs open banking makes it easier for other players to access your clients’ financial data, now is the time for insurance professionals start thinking about how they can take advantage of this new model, an actuary advises. “A number of…
How Marsh sees the broker role evolving around cyber insurance
December 11, 2019 by Jason ContantBrokers are finding they have to educate themselves more on the legal and technical side of cyber rather than on the cyber insurance policy itself, a speaker said recently at Insurance Bureau of Canada’s Commercial Insurance Symposium. “What we’ve noticed…
Three reasons fintech is driving brokerage acquisitions
December 11, 2019 by Greg MeckbachDisruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed…
‘Bring it on,’ Intact CEO tells industry disruptors
December 10, 2019 by Greg MeckbachCanada’s largest property and casualty insurer plans to be ready for companies from outside the industry who could disrupt the brokerage side of personal lines insurance. “On the distribution side of things, I think one needs to expect that players…
Do you know where your data is going?
December 9, 2019 Roisein Hutchinson, Senior Associate, Walker Sorensen LLPSo, you want to work with insurtechs. A guide to how your contracts should handle the sharing of private consumer information between you….
Putting smart cars to the test
December 8, 2019 Tom Flynn and Mike Yang, MEA Forensic Engineers & ScientistsDriver-assistance technologies are designed to help motorists, but how do they assist auto liability insurers?