Topic Insurers
Bank of Canada keeps key interest rate target on hold
June 9, 2021 by The Canadian PressOTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent. The rate has been on hold at its rock-bottom level since the onset of the pandemic last year and the central…
Forget data: The case for going with your gut instinct
June 8, 2021 by David GambrillData analysis may be held up as the gold standard for making sound business decisions. But a recent study suggests gut instinct — when backed up by simple decision aids — may actually be better in situations of high uncertainty.…
How home insurance rates in Canada are trending
June 8, 2021 by Adam MalikHome insurance rates in Alberta today have jumped nearly two-and-a-half times more than what they were 10 years ago, according to an analysis from a rate aggregator. Average home insurance premiums in Alberta have gone from $741 to $1,779 since…
Opinion: Brokers need the right tools for the digital age
June 7, 2021 by Nick Frank and Wei Ke, Simon-Kucher & PartnersCaution and single-steps forward are not what brokers need from their insurance carrier partners as the industry accelerates into the digital age. The importance of digital distribution following the COVID-19 pandemic is undeniable. As a result, insurers need to keep…
Why Canada could be in the path of stronger hurricanes in the future
June 7, 2021 by Jason ContantCanada could see heightened hurricane risk in the future, as climate change and fluctuations in ocean temperature are increasing the likelihood of stronger hurricanes making landfall further north, according to Swiss Re. “We see an increased likelihood of intense hurricanes…
Fairness officer role approved as ICBC launches enhanced care auto insurance
June 7, 2021 by The Canadian PressVICTORIA – The Insurance Corporation of British Columbia has created a new position aimed at ensuring the Crown-run auto insurer makes fair and transparent decisions related to its newly launched enhanced care plan. A statement from the Ministry of Public…
Tips on securing D&O coverage in a pandemic
June 7, 2021 by Adam MalikMired in a hard market, brokers need to give twice the typical amount of lead time these days when contacting underwriters to secure directors and officers (D&O) coverage for clients, according to a broker expert. The D&O market will remain…
Why clients are still forking over ransomware demands
June 4, 2021 by Adam MalikClients are still indeed paying ransomware demands, despite a report to the contrary, because the threat of having sensitive data exposed is very much a concern, according to a pair of cyber insurance experts. Their comments come following a report…
Insurance CEO’s advice on engaging employees amid pandemic
June 4, 2021 by Greg MeckbachIf your employees are working remotely because of the pandemic, pick up the phone and ask those workers what’s keeping them up at night, suggests the new CEO of the Canadian Universities Reciprocal Insurance Exchange (CURIE). It is important for…
Second CEO in 15 months for SCOR Canada
June 3, 2021 by Greg MeckbachSCOR Canada Reinsurance Company is getting a new CEO, Olivier Gay (pictured) the Paris-based reinsurance announced Thursday. The move is effective June 11. Gay succeeds Paul Christoff, whose appointment as CEO of SCOR Canada was announced in February 2020. At…
Insurers faced with barrage of COVID-19 coverage disputes
June 3, 2021 by Greg MeckbachMore than a dozen coverage disputes arising from business interruption from lockdowns and restrictions during the COVID-19 pandemic are making their way through Ontario courts. Law firm McCarthy Tetrault has served 17 individual statements of claim with the Ontario Superior…
Insurance provider for Trans Mountain pipeline says it won’t renew policy
June 3, 2021 by The Canadian PressCALGARY – An insurance provider for the Trans Mountain pipeline said it will not renew its policy with the company when it expires in August. Argo Group International Holdings Ltd., an international underwriter based in Bermuda, said the project no…