Digitization efforts and consumer choice are at the top of Insurance Bureau of Canada’s (IBC) agenda, the association’s chief strategy officer said last week at an industry event. “We essentially want to look at how does the consumer want to…
Privacy is an essential part of insurance and for high net worth (HNW) clients, it’s even more important to be discreet — particularly if they have insurance claims. “For a HNW client, [any kind of loss] resulting in a claim…
Staff retention, professional development and the risk of worker isolation are among the factors the industry needs to think about when deciding on an approach to working remote or in the office. “As the pandemic eases and restrictions are lifted,…
Usage-based insurance (UBI) empowers the customer and takes a lot of the complexity out of the insurance product, a speaker said Wednesday during KPMG’s 30th annual insurance conference. “Personally, I love the idea of usage-based insurance and telematics,” Celyeste Power, chief strategy officer…
While the traditional view of claims is that it sits towards the back of the value chain, that is changing, a speaker said Wednesday during KPMG’s 30th annual insurance conference. The evolving role of claims was one of four macro…
OTTAWA – Statistics Canada says the annual pace of inflation in October rose to 4.7 per cent as the consumer price index posted its largest year-over-year gain since February 2003. The increase compared with a year-over-year increase in the consumer…
Ontario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services…
The number of high net worth (HNW) households in Canada will reach 1.3 million over the next 10 years, according to projections by Investor Economics. For brokers, that means many more household contents limits. A contents limit provides the broadest…
Beneva plans to replace its La Capitale and SSQ direct-to-consumer brands but it’s business as usual, for the time being, for the broker-distributed Unica and L’Unique brands. “As of today both L’Unique and Unica are brands that exist in the…
Foreign entities operating in Canada through a branch will now have to notify the federal regulator of any potential changes to branch management “as well as any circumstances that could negatively impact their suitability,” attendees to a virtual industry event…
Intact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher…
The ‘S’ pillar of environmental, social, and governance (ESG) practices should be an increasingly important area of focus for D&O insurers, a specialist insurance provider said recently. While ESG is clearly a hot topic, the environmental and governance pillars have…