Topic Insurers
When GAP insurance is an ‘easy profit maker’ for auto dealer
January 21, 2021 by Greg MeckbachGuaranteed Asset Protection is one way for automotive dealers to make money from consumers who make large down payments on their new vehicles, an automotive columnist suggests. GAP insurance is intended to protect consumers who borrow money to buy their…
Why this small claims tribunal changed an auto insurer’s liability finding
January 21, 2021 by Greg MeckbachA British Columbia driver who was found 50% at fault for a collision by the province’s monopoly auto insurer has partly won a small claim against the other driver. Hartmut Wolfram and Yunsun Kim collided with one another in Burnaby…
Miss the office commute? This is why you should
January 21, 2021 by Adam MalikMany property and casualty insurance professionals are not missing driving into the office every day after shifting to working from home for the last 10 months. However, a pair of researchers are saying the daily commute does provide valuable benefits…
Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim
January 20, 2021 by David GambrillSix subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s…
Why brokers may face E&O exposure due to COVID-19
January 20, 2021 by Adam MalikOne prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that…
‘COVID Trio’ tops the biggest biz risks for this year
January 19, 2021 by Adam MalikBusiness interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found…
How Canada’s P&C professionals feel about working from home
January 19, 2021 by David GambrillMost Canadian P&C insurance industry professionals would like to see more hybrid, flexible working arrangements once the health threat of the global COVID-19 pandemic has subsided. “I’m not really keen to go back to five days a week [in the…
Heartland Farm Mutual proposes merger with The Kings Mutual
January 18, 2021 by Jason ContantHeartland Farm Mutual Inc. and The Kings Mutual Insurance Company have reached an agreement to merge under the name Heartland Farm Mutual Inc. Waterloo, Ont.-based Heartland Farm Mutual and Berwick, N.S.-based The Kings Mutual Insurance Company announced the proposed merger…
Where this direct sees advantages over the broker channel
January 18, 2021 by Adam MalikBetter engagement with customers and the ability to respond quickly to change are just two reasons why the leader of one of Canada’s biggest direct insurance companies sees an advantage for companies like his over competitors that sell through the…
Why you shouldn’t treat cyber policies like auto or property policies
January 14, 2021 by Adam MalikMany brokers and insurers are treating cyber coverage the same way they would a generic home, auto or CGL cover, a cyber expert warns, and this is not only eroding the trust of clients, but also putting them at risk.…
Brokers negotiate major role in this province’s digital auto insurance distribution
January 14, 2021 by Greg MeckbachManitoba’s brokers will provide input on designing a system for online auto insurance in the province and will be involved in every digital transaction, says the provincial broker association. A recently-signed, five-year agreement between Manitoba Public Insurance (MPI) and the…
Movers and shakers: Who’s moved where to start the year
January 13, 2021 by Adam MalikA new year brings new faces in new positions and the P&C insurance industry was no exception. NFP formed a new group with two veteran leaders, while Allianz Global Corporate & Specialty and Chubb Canada made new appointments. Brokerage NFP…