Canadian consumers are still foggy about the purpose and content of their home, auto and business insurance, and the onus is on the industry to help them understand, a pair of industry executives said during a recent webinar. Discussions with…
Aviva plc has set an aggressive target to become a net zero carbon emissions company by 2040. “Aviva is taking bold steps to help tackle the climate crisis,” Amanda Blanc, Aviva Group’s CEO, said when announcing the 2040 Net Zero…
The COVID-19 pandemic has created a series of unique risk exposures for Canadian policyholders, and industry experts gave a crash course on how they would handle these newly common scenarios. Three made-in-COVID situations presented themselves to clients over the past…
Karen Gavan, Swiss Re board of directors and former president, CEO of Economical Insurance To reach a leadership position in the Canadian property and casualty insurance industry, women leadership hopefuls need to develop and hone their financial literacy skills, the…
Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by…
The head of a claims restoration company says it’s reasonable to believe that productivity in his company and the industry as a whole has dropped by nearly 20% due to the global COVID-19 pandemic. That would be on par with…
Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance…
New research shows the influx of video calls brought about by the COVID-19 pandemic is tiring people out. “Zoom” has become a verb to describe videoconference meetings, said professor Jeremy Bailenson, founding director of the Stanford Virtual Human Interaction Lab.…
Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says…
The COVID-19 pandemic forced one insurance association to change how they typically map out their future. The result ended up being a product they believe is better than something that would have been produced in normal times. For many, planning…
The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the…
The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.…