Canadian Underwriter

Topic Education

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This kind of homeowner’s liability claim has real teeth

January 21, 2021 by Greg Meckbach

When a dog bites man, the wounds could be deep and wide for homeowners. “Pet bites top the list for home insurance liability claims,” reports Dorchester Insurance Brokers Ltd., based near London in the community of Dorchester, Ont. “Dog bites

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Open banking in Canada could help insurers with credit scoring

January 20, 2021 by Greg Meckbach

Open 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,

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The ‘strange and new opportunity’ for insurance from open banking

January 4, 2021 by Greg Meckbach

If Canada proceeds with so-called “consumer-directed finance,” technology firms could potentially get access to consumers’ insurance data, a Microsoft Canada expert told brokers during a recent webinar. The federal finance department appointed its Advisory Committee on Open Banking in 2018.

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Why so many digitization projects fail

December 17, 2020 by Greg Meckbach

Buying technology before thinking through the process that the new technology is supposed to enable is one reason why some projects are not well-executed, an insurance digital transformation leader suggested Wednesday. “When you start to think about digitizing things, you

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The show must go on

December 11, 2020 by Scott Carroll, Executive Vice President, Program Director, Take1 Insurance

The new COVID landscape means looking for alternative ways to mitigate claims risk at live events

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When phishing links are dangled before insurance professionals, do they go for the bait?

December 10, 2020 by Jason Contant

There’s good news and bad news when it comes to insurance industry employees clicking on phishing email links, according to a recent study from a Laval, Que.-headquartered security awareness training firm. The good news is that global “finance & insurance”

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COVID’s impact on brokerage M&A: Myth versus reality

December 10, 2020 by Greg Meckbach

The onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks

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The diversity and inclusion statement that hit home for Intact’s management team

December 9, 2020 by Jason Contant

Intact Financial Corporation was holding focus groups on diversity and inclusion a few months ago, when a young manager of colour shared her experience with the insurer’s senior management. “She gave an example to us, which struck most of the

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How Ottawa is trying to lower earthquake related property losses

December 7, 2020 by Greg Meckbach

Natural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,

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‘The most litigated insurance concept’

December 6, 2020 by Greg Meckbach, Associate Editor

A lot of things can go wrong when a client agrees to add a counter-party to a contract as an additional insured. Here’s what your clients can do to reduce the risk of a nasty coverage dispute

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Western Perspective

December 4, 2020 by Greg Meckbach, Associate Editor

Meet Clint Smith, chief operating officer of Manitoba-based Andrew Agencies Ltd., which recently acquired several brokerages in Saskatchewan. Smith gave us his take on the challenges brokers face in Western Canada, the response to the COVID-19 pandemic, and the inside

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Who is funding many of these insurance mergers

December 4, 2020 by Greg Meckbach

The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the