Topic Insurers
Why this auto insurer is proposing a ‘rate rebalance’
June 2, 2021 by Jason ContantPublic auto insurer Saskatchewan Government Insurance (SGI) is proposing a “rate rebalancing” that will result in a net 0% overall change for provincial Auto Fund rates, effective next January. Reflecting current frequency and severity trends, and in an effort to…
Canadian vehicle sales increased 36% in May from a year earlier but down from 2019
June 2, 2021 by The Canadian PressTORONTO – Canadian auto sales disappointed in May despite increasing nearly 36 per cent from a year earlier when sales plunged due to lockdowns to address the COVID-19 pandemic. According to estimates compiled by DesRosiers Automotive Consultants, Canadian light vehicle…
In a virtual world, don’t lose your humanity: insurer exec
June 1, 2021 by Adam MalikAs the world gets more and more virtual, don’t forget how to be human, an insurer executive urged during a recent webinar. Technology should be used to enhance the industry’s relationship with clients, rather than act as a replacement, explained…
How video conferencing misbehaviour creates commercial liability risk
June 1, 2021 by Greg MeckbachInappropriate behaviour during video conferences can lead to employment practices liability claims, an expert with The Travelers Companies Inc. warns. New York City-based Travelers is observing “Zoom etiquette claims,” said the insurer’s employment practices liability product manager, Chris Williams, during…
Pressure from investors isn’t the only reason insurers are exiting from fossil fuels
June 1, 2021 by Jason ContantMany insurers and reinsurers are considering or actively transitioning away from insuring fossil fuel companies as pressure mounts from investors and clients over environmental, social and governance (ESG) practices. “But pressure from end investors isn’t the whole story,” Tom Johansmeyer,…
Thompson leaving RSA Canada following Intact acquisition
June 1, 2021 by Greg MeckbachRSA Canada CEO Martin Thompson is leaving the company, says the insurer’s new owner, Intact Financial Corp. Intact and Danish insurer Tryg A/S announced Tuesday they have completed their acquisition of London-based RSA PLC. As part of the deal, Toronto-based…
How IBC proposes fighting insurance fraud in the trucking sector
May 31, 2021 by Jason ContantProvincial governments should implement a database to verify the validity of a trucking carrier’s insurance as one way of helping to identify fraud in the sector, Insurance Bureau of Canada (IBC) is recommending. At the time of policy renewals, insurers…
Insurers monitor battle within auto industry over car data ownership
May 30, 2021 by Adam MalikThe outcome of a current standoff between auto manufacturers and the automotive aftermarket industry over who owns the data generated by automated cars will have implications for the insurance industry, according to an insurance executive. “If the data is owned…
Time thieves that are stealing away your workday
May 27, 2021 by Adam MalikBeware of seven deadly time thieves if you want to exercise more control over your workday and manage your time better, an organization expert said during a recent risk management conference. Andrew Mellen, a professional organizer, spoke to risk managers…
BFL founder donates $500K towards women leadership centre
May 27, 2021 by David GambrillBFL Canada’s founder, Barry F. Lorenzetti, is giving $500,000 to establish the Barry F. Lorenzetti Centre for Women Entrepreneurship and Leadership at Concordia University in Montreal and to endow research grants and scholarships for undergraduate and graduate students. “Entrepreneurship involving…
Appeal court rules for insurers in handling of HST in auto AB claims
May 27, 2021 by Greg MeckbachOntario auto insurance claimants cannot take insurers directly to court over how carriers treat sales tax on accident benefits claims, the province’s appeal court has ruled. This is because the province’s Licence Appeal Tribunal, not the Superior Court of Justice,…
Former Aviva Canada leader to head up Allianz Holdings plc
May 26, 2021 by David GambrillAllianz Holdings plc has named Colm Holmes, currently CEO of Aviva General Insurance in the United Kingdom, as its new CEO, effective at the end of November 2021. Holmes will be a familiar name to anyone who had dealings with…