Topic Insurers
IBC elects Allstate Canada president and CEO to lead its board
June 16, 2021 by Jason ContantRyan Michel, president and CEO of Allstate Insurance Company of Canada, has been elected chairman of Insurance Bureau of Canada (IBC)’s board of directors. Michel has more than two decades of industry experience. He is accountable for the Allstate Canada…
An expert’s guess on how long the D&O hard market will last
June 16, 2021 by Adam MalikWhile things may not get any worse in the directors and officers (D&O) liability market, it’ll still be about another 18 months until things start to turn for the better, an expert in the area predicted. “I don’t see it…
What employers and employees can expect of each other in a hybrid future
June 15, 2021 by Adam MalikIt’s reasonable for your boss to ask you to dress appropriately for video calls with clients, but brokers can also reasonably ask for flexible work hours, says an expert from Aon. No matter what the expectations may be, companies and…
A home under renovation isn’t necessarily “under construction:” Appeal Court
June 15, 2021 by David GambrillA home under renovation doesn’t mean it is “under construction,” Ontario’s Appeal Court has ruled, rejecting an insurer’s interpretation of its home insurance policy exclusion. In Tataryn v. Axa Insurance Canada (now Intact Insurance), Susan Tataryn’s Ottawa property served as…
How to convince your clients that buying insurance isn’t a waste of money
June 15, 2021 by Jason ContantOne 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…
Restoration firms beware: Did clients authorize payment for your work?
June 14, 2021 by David GambrillA recent flood damage claim in B.C. speaks to the importance of getting in writing from clients exactly what restoration services have been authorized for payment, be it a repair or a full investigation into the cause of the water…
How to sell insurance to a solo entrepreneur in under a week
June 14, 2021 by Greg MeckbachA major pain point for gig-economy entrepreneurs is the traditional process of getting commercial coverage, a Vancouver insurtech CEO suggests. “It is tough being a solo entrepreneur, especially now,” said Jeff McCann, CEO Apollo Insurance Solutions Ltd. “These people are…
Look back, but not too far: Why some perils need a new approach
June 14, 2021 by Jason ContantThe insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently. “When we’re looking at recent events, including the 2020…
Intact agrees to sell former RSA operation for $1.26 billion
June 14, 2021 by Greg MeckbachLess than two weeks after the takeover of RSA plc closed, the insurers who bought RSA are now agreeing to sell RSA’s former operation in Denmark. At the moment, Toronto-based Intact Financial Corp. owns half of Codan Forsikring A/S’s Danish…
Second auto insurance rebate coming in B.C.
June 14, 2021 by The Canadian PressVICTORIA – A second insurance rebate is coming for British Columbia drivers thanks to lower claim costs due to fewer crashes during the COVID-19 pandemic. The government says the Insurance Corporation of B.C. will begin distributing rebates averaging $120 starting…
How are your employees feeling? No, really.
June 11, 2021 by Adam MalikBrokers are naturally social people. So how do they respond when they’re cut off from their typical social gatherings and unable to interact with people the way they’re used to? If they’re like people in other professions, it’s a heavy…
Estimator’s COVID dilemma: Photos of auto damage not enough, in-person visit not allowed
June 11, 2021 by David GambrillIt’s an auto insurance estimator’s Catch-22. A B.C. small claims tribunal recently downplayed expert evidence based on photos taken in an auto collision shop because the estimator didn’t conduct an in-person inspection of the vehicle — even though pandemic lockdown…