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Why Swiss Re expects a bounceback of P&C premiums in 2021

July 9, 2020 by David Gambrill

Facing a global recession thought to be the deepest since the Great Depression of the 1930s, the global P&C insurance industry can expect premiums to contract by 0.1% in 2020, before rebounding alongside the economy in 2021, a new Swiss

News BrokersClaimsCommercialInsurersTrusted Advisor

Opinion: How to convince your clients to buy trade credit insurance

July 9, 2020 by Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc.

The key to selling trade credit insurance in this challenging economic environment is to show commercial clients their potential return on investment. Trade credit insurance is an overlooked but essential coverage. It is perhaps more important now than it ever

News BrokersCommercialInsurersLiabilityRisk Managers

Commercial clients want your advice on how to re-open safely. What do you tell them?

July 8, 2020 by David Gambrill

As provincial governments across Canada begin to fire up their local economies in staged phases, Canadian businesses are asking their brokerages for advice on how to re-open safely. Aon Canada is already engaged in these sorts of their discussions with

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P&C leaders fire back against no-fault portrayal

July 7, 2020 by Adam Malik

Broker and insurer leaders in Alberta are speaking out against those who would paint the insurance industry as nefarious actors looking to line their pockets at the expense of auto policyholders. In particular, they dispute what they feel are negative

News BrokersHRInsurersManagementOperations

Why remote workers should stay where they are

July 6, 2020 by Adam Malik

Staff members who are working from home should stay there for the foreseeable future, one risk leader recommends. Scott Fotus, vice president of risk services at Hub, stated his recommendation during a webinar hosted by Hub, Workplace Safety: Employer Obligations

News Business InterruptionCatastrophesClaimsCommercialEmerging RisksInsurers

Lloyd’s proposes “open source” frameworks for future pandemic coverage

July 6, 2020 by David Gambrill

Lloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers

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Lac Megantic marks seventh anniversary of 2013 rail disaster with memorial site

July 6, 2020 by Stephanie Marin – THE CANADIAN PRESS

Seven years after a rail disaster decimated its downtown, Lac-Megantic sought Monday to honour both its past and future by inaugurating a long-planned memorial space at the site at the heart of the tragedy. On July 6, 2013, a runaway

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A new regime for tow truck regulations? What auto insurers want to see

July 2, 2020 by David Gambrill

Auto insurers are applauding Ontario’s creation of a new government task force to improve provincial oversight of the tow truck industry, citing the possibility of reducing insurance fraud and associated premium reductions for consumers. “IBC applauds the Ontario government for

News BrokersClaimsCommercial AutoInsurersPersonal Auto

Why the risk for small car drivers is growing

July 2, 2020 by Adam Malik

Small cars may be even more dangerous to drive these days just because they are sharing the road with an increasing number of larger vehicles, which have dominated new auto sales in recent years. The Insurance Institute of Highway Safety

News BrokersInsurersLegalTrending

What’s next for Economical’s demutualization

June 29, 2020 by Greg Meckbach

Editor’s note: This story was updated to reflect a June 30 announcement by Economical Insurance Economical Insurance is still in the process of demutualizing but the next policyholders’ vote is not going to happen this year, the Waterloo, Ont. based

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Paper cheques are still around, but for how much longer?

June 29, 2020 by Adam Malik

Sending paper cheques may soon be a thing of the past — and it could be thanks to COVID-19. The global novel coronavirus pandemic that shut down many businesses and forced much of the workforce to operate out of their

News BrokersInsurersManagementMergers and AqcuisitionsOperationsTrending

Here’s how P&C pros say the recession will impact insurance

June 26, 2020 by Adam Malik

The recession will be long and painful so brokers and insurers need to settle in and do what they do best, property and casualty experts said. And don’t be surprised if some mergers and acquisitions activity push forward as tough