Keeping staff engaged and stimulated when life returns to something resembling the old normal will be a top challenge for property and casualty insurance industry leaders, experts say. After the COVID-19 pandemic, the Canadian P&C industry is expected to implement…
Lemonade, Root and Metromile have a few things in common, and it’s not just their leading-edge technology. “Their performance has been consistently worse than those of their more traditional [insurance company] peers,” writes Joel Baker, CEO of MSA Research Inc.…
Pay-as-you go insurance demonstrates that auto insurance clients can’t be grouped into a one-size-fits-all solution, says an insurance company exec. CAA president Matthew Turack believes his company’s MyPace product, in which insurance coverage is based on distance driven, shows that…
Canadian property and casualty insurance industry leaders have often talked about the importance of managing with empathy during the pandemic, but empathic managers will become even more valuable in the hybrid workplaces that are expected to emerge after the pandemic…
For now, little evidence exists that courts will adjudicate against Canada’s property and casualty insurers in litigation related to business interruption claims stemming from the COVID-19 pandemic, according to an industry executive. At the recent CIP Society Symposium 2021 virtual…
A trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across…
It appears ransomware victims are less willing to give in to cybercriminals and pay up, according to a recent report by ransomware incident response platform Coveware. Commercial clients are considering the tradeoffs and are increasingly opting not to hand over…
Insurers are between a rock and a hard place when it comes to changing the way they do business, because of the risk of harming broker relationships, investment costs, and, at the end of the day, the current system works,…
The insurance industry has shown that it can operate successfully in a work-from-home environment, but for any company that wants to see growth, being in the office on a regular basis is essential, P&C insurance executives said during the virtual…
Not all meetings during a pandemic need to be structured around a videoconference call, commercial insurance experts said during a recent webinar. “I think we all have to be cautious about just loading up our entire agenda with Zoom calls…
OTTAWA — A group representing thousands of the country’s small businesses says many hope the Trudeau Liberals heed their concerns and reshape aid in the upcoming federal budget to help them survive the COVID-19 pandemic. The Canadian Federation of Independent…
Since insurance brokers act as intermediaries between client and insurer, the risk of them falling victim to fraud increases as payment turnaround time decreases, says a cyber insurance expert. In fact, brokers “regularly top our list of industries that are…