Topic Emerging Risks
Unifor calls for national auto strategy, dedicated ministry to capture EV potential
August 12, 2022 by Ian Bickis - THE CANADIAN PRESSTORONTO – Unifor is calling for a national auto strategy, and a dedicated federal government ministry to lead it, at a time of “significant and uncertain change” in the industry amid the transition to electric vehicles. The recommendations are contained…
Why extended hard market should be easier to explain to consumers
August 11, 2022 by David GambrillConsumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after…
‘Quiet quitting.’ Are your brokers at risk?
August 9, 2022 by Jason ContantHigh stress is one reason a broker might choose to leave the industry, but employers should be aware of another phenomenon affecting the broader working community today – ‘quiet quitting.’ Quiet quitting is silent withdrawal from the overbearing pressure of…
Why the basics count in construction loss prevention
August 9, 2022 by Philip PoradoInflated materials costs, and a need for brokers and insurers to see to it that valuations for commercial structures closely track replacement costs, are frequently mentioned in conversations about risks for the building sector these days. But site safety is…
Inflation creates opportunities for brokers to revisit risks with clients
August 8, 2022 by Philip PoradoRecent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada…
Where Canada’s P&C insurance professionals are at with COVID
August 2, 2022 by David GambrillWhen deciding whether to attend industry events in-person, just over half of Canada’s risk professionals are casting a wary eye on COVID-19, while about one in three are ready to move on, according to responses received in a Canadian Underwriter…
Inflation and higher interest rates may alter P&C market
August 2, 2022 by Glenn McGillivrayA one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized…
Where to find recession-proof clients to help grow your business
July 28, 2022 by David GambrillGlobal recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t…
The new cyber threat: phoning a call centre
July 28, 2022 by Jason ContantOne cyber insurance specialist is warning brokers and clients of a ransomware attack method that subverts common cybersecurity controls by tricking victims into phoning a call centre – rather than clicking a link – and instructing them to download malicious…
Can multi-factor authentication beat smarter cybercriminals?
July 26, 2022 by Jason ContantMulti-factor authentication (MFA) is becoming a standard requirement to obtain cyber insurance. But just as your clients are improving their insurability, cybercriminals too are designing their attacks around MFA. “It’s kind of like a game of Whack-a-Mole,” said Neal Jardine,…
What Europe’s record heat means for insurers
July 22, 2022 by Philip PoradoInsurers covering businesses that depend on goods or industrial inputs from Europe should keep an eye on potential loss scenarios emerging from the continent’s crippling heat wave. “High temperatures harmed tarmacs of motorways in Great Britain and Germany in the…
Canada’s inflation rate climbed to 8.1% in June as gas prices soared
July 20, 2022 by The Canadian PressOTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate was up…