Topic Insurers
Here’s how P&C pros say the recession will impact insurance
June 26, 2020 by Adam MalikThe recession will be long and painful so brokers and insurers need to settle in and do what they do best, property and casualty experts said. And don’t be surprised if some mergers and acquisitions activity push forward as tough…
You’re probably working too much while at home
June 25, 2020 by Adam MalikEmployees are working longer and harder in a COVID-19 world than they did before, and it’s raising concerns about burnout — especially when many aren’t making vacation plans, according to a number of recent studies. A recent survey showed that…
Former LawPro CEO nominated to investment industry regulator board
June 25, 2020 by Greg MeckbachMalcolm Heins, a former CEO of Ontario’s professional liability insurer for lawyers, has been nominated to the board of directors of the Investment Industry Regulatory Organization of Canada, IIROC has announced. Heins (pictured below) joined Simcoe & Erie General Insurance…
Receivables and the recession: What does it say about your value as a broker if you don’t ask clients to pay?
June 24, 2020 by Adam MalikYes, times are tough, and brokers’ commercial clients are in a difficult financial situation during an economic recession, but brokers still have to ask their clients to pay their premiums. Brokers need their clients to pay up so that they’re…
Toronto officer now allegedly linked to illegal tow truck scheme
June 24, 2020 by Paola Loriggio - THE CANADIAN PRESSTORONTO – A Toronto police officer arrested last week in the theft of a police radio has now allegedly been linked to an illegal operation benefiting the tow truck industry. Toronto police said Monday that 11 people, including 47-year-old Const.…
How auto dealership closures affected the industry
June 23, 2020 by Greg MeckbachCanada’s property and casualty insurance industry saw a steep drop this past April in the number of auto clients seeking policies for new vehicles, and it’s not clear how long a more recent rebound will last, the head of LowestRates.ca…
B.C. proposes ‘first step’ amendments to laws governing condo insurance
June 23, 2020 by THE CANADIAN PRESSVICTORIA – The B.C. government says proposed legislation it has introduced takes first steps to address concerns about sky-high costs and availability of insurance for condominiums and other shared properties. Housing Minister Selina Robinson says the legislation proposes to amend…
Brokers urged to stay on top of coverage changes as businesses re-open
June 22, 2020 by David GambrillBrokers are advised to be aware of the “second wave” — and that doesn’t refer to the anticipated increase in the number of novel coronavirus infections in the fall. No, brokers are now being cautioned about the new wave of…
The likelihood that COVID-19 could kill a Canadian P&C insurer
June 22, 2020 by Adam MalikThere’s a chance COVID-19 could claim a Canadian insurer, one property and casualty insurance expert believes. “Canada has been blessed for a sustained period with no insurer failings — but there will be one,” warned Alister Campbell, president and CEO…
What effect will investor pressure have on the insurance industry?
June 19, 2020 by Adam MalikDemands are being placed on the insurance industry and that could set up some tense moments with a couple of groups, suggested the head of Zurich Canada. Demand from insurers, investors and shareholders are significant challenges to the industry as…
Protecting your receivables: Execs in CU webinar discuss the options
June 19, 2020 by David GambrillCanada’s pandemic-induced economic recession is now in full swing, and although businesses are gradually starting to open up after a decline in COVID-19 infection rates, there is a great deal of speculation about insolvencies. And that has the P&C industry…
What a politician says he’ll do if insurer rebates don’t measure up
June 17, 2020 by Adam MalikThreats are being lobbed at auto insurers by an Ontario member of parliament who indicated that insurers not offering satisfactory relief measures could be called out and face repercussions. In the latest salvo from Ontario Finance Minister Rod Phillips —…