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Top court asked to create “new law” in waiver case involving insurer’s flip-flop on coverage

July 14, 2021 by Greg Meckbach

Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel

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How to go after online fake brokerages through the courts

July 8, 2021 by Greg Meckbach

Canadian courts have the power to try and shut down unlicensed brokers’ Internet sites, though there does not seem to be a simple, sure-fire way to guarantee that Canadians won’t find a fake broker on the web. Teksavvy Solutions Inc.

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These highway features may encourage distracted driving

June 25, 2021 by Greg Meckbach

Medians and wide shoulders on highways could encourage distracted driving by giving drivers a false sense of security, transportation researchers suggest in a recent paper. “The combination and presence of a shoulder, median, higher speed limit, and extra lanes could

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As COVID ends, watch for consumers to report changing conditions

June 23, 2021 by Jason Contant

Now that the commute back to the office is a distinct possibility in the upcoming months, insurance providers should be making sure their clients have the right level of auto insurance coverage, particularly if it changed during the pandemic, the

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Two things you need to explain to your clients

June 16, 2021 by David Gambrill

Risk and insurance professionals need to address two common client misunderstandings about how the property and casualty insurance industry works, a risk professional suggested to Canadian Underwriter Tuesday. First, clients may not fully understand the interconnectedness of the P&C industry,

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How to convince your clients that buying insurance isn’t a waste of money 

June 15, 2021 by Jason Contant

One of the biggest challenges for the insurance industry is convincing policyholders that they haven’t wasted their money if they constantly pay premiums but don’t have a claim.  To overcome this challenge, insurers should help policyholders celebrate the fact that

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How to be really customer-centric: Lessons from the global insurance market

June 11, 2021 by Jason Contant

Canada’s property and casualty insurance industry should look towards the global insurance market for some insights about how to increase take-up rates, particularly among marginalized and low-income people, speakers said Thursday at the CatIQ Connect virtual conference. In the global

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Insurance CEO’s advice on engaging employees amid pandemic

June 4, 2021 by Greg Meckbach

If your employees are working remotely because of the pandemic, pick up the phone and ask those workers what’s keeping them up at night, suggests the new CEO of the Canadian Universities Reciprocal Insurance Exchange (CURIE). It is important for

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A drastic (but effective) way to keep water out of the basement  

June 2, 2021 by Greg Meckbach

A foundation membrane could cost a homeowner client $15,000, and it is probably not something your clients should try installing themselves, but it is “often the most effective method” of waterproofing a basement, a Bobvila.com author suggests. A foundation membrane

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Brokerages will need these new skill sets

May 10, 2021 by Greg Meckbach

To compete in a digital world, the insurance industry needs to hire data scientists and computer programmers, Virtual Symposium B.C. attendees heard last week. “Every insurance organization is going to look at new roles that they never had before,” said

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Want a level playing field between tech and insurance? How open banking might help

May 8, 2021 by Greg Meckbach

Open banking rules could help create a level playing field between technology companies and the insurance industry, speakers suggested at a recent virtual conference. Bringing in “consumer-directed finance” will help consumers benefit from a broader range of financial products and

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How insurers could centralize consumer data — and why they might not

May 5, 2021 by Greg Meckbach

The industry could potentially evolve towards an “open insurance strategy,” similar in concept to open banking, whereby consumers allow third parties access to their insurance data, an insurtech CEO suggests. In Europe, open banking gives consumers access to their banking