Topic Insurers
Hurricane warnings: Is it crying wolf when storms aren’t as bad as expected?
August 31, 2020 by David GambrillWhile Hurricane Laura’s insured damage estimates in the United States range anywhere between $4 billion to $12 billion, the post-tropical storm predicted for Atlantic Canada did not quite reach the level of intensity initially forecast for the Maritimes last Thursday.…
Where this industry veteran landed soon after announcing retirement
August 31, 2020 by Jason ContantOne week after retiring as president and chief operating officer of Pembridge and Pafco insurance companies, 40-year industry veteran J.R. (Bob) Tisdale has joined the board of the independent adjusting firm CRU Group. Gary Winston, founder and chair of the…
A common mistake P&C organizations make when working with insurtechs
August 28, 2020 by Adam MalikA common blunder the insurance industry makes when working with an insurtech is mistakenly expecting the partnership to be a one-size-fits-all for every issue they’re facing, according to insurtech leaders. In fact, experts said during a recent webinar, you are…
How Fairfax is addressing anti-Black racism
August 28, 2020 by Greg MeckbachThe corporate parent of Northbridge Insurance has formed its own anti-racism committee and joined a new Canadian organization that aims to create opportunities for visible minorities and indigenous people in the industry. “We have formed a Black Initiatives Action Committee,”…
What brokers can do more of to help their clients protect against flood risk
August 27, 2020 by David GambrillCanadians understand that flood damage has increased, but they don’t necessarily know to protect their homes against it, according to joint research conducted by RSA Canada and World Wildlife Fund (WWF) Canada. The research suggests an opportunity for Canadian P&C…
Opinion: Expected M&A rise brings opportunities for brokers
August 27, 2020 by Ben Nelson, CFC UnderwritingTransaction liability insurance is a valuable tool for helping buyers and sellers facilitate mergers and acquisitions — and presents a significant opportunity for brokers to add value to their client offering and drive revenue growth. From humble beginnings more than…
What is the future of ridesharing insurance in Canada?
August 27, 2020 by Jason ContantOnce autonomous vehicle technology becomes commercially feasible for public transportation, it will be widely adopted, predicts Obaid Rahman, vice president of commercial underwriting and specialty lines at Economical Insurance. “In my view, when autonomous technology is commercially viable for public…
How your advice can help flood-proof future real estate development
August 26, 2020 by Adam MalikThere’s not enough collaboration between stakeholders in Canada’s real estate sector and risk professionals with information about natural hazards, and real estate investments could drown as a result, an expert warned. If real estate is constantly being exposed to damage…
Rapid-intensity Hurricane Laura ultimately headed for Newfoundland
August 26, 2020 by David GambrillThe path of Hurricane Laura — which is currently located off the U.S. Gulf Coast and described as one of the fastest-intensifying storms in history — is tracking to hit St. John’s, Nfld., next Monday as a post-tropical storm, according…
How a cyberattack on a Canadian insurance courier affected brokers and carriers
August 26, 2020 by Jason ContantSome Canadian brokerages and insurers recently experienced delays in mail pick-up and delivery after a prominent courier service for the Canadian insurance industry suffered a cyberattack. ICS Courier confirmed in a message on its website Monday that it was the…
Allianz Global Corporate & Specialty names new chief agent for Canada
August 25, 2020 by Jason ContantAllianz Global Corporate & Specialty (AGCS) announced Tuesday it has appointed Bernard McNulty as chief agent for Canada, effective immediately. In addition to taking on the chief agent role, McNulty will remain in his current position as head of claims…
The impact of MGAs getting more business
August 25, 2020 by Greg MeckbachIt is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now…