Canadian Underwriter

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Brokers can help clients avoid purchasing stolen vehicles

September 19, 2022 by Philip Porado

One of the best things a broker can do for a client planning to buy a used car is to provide tips for making sure that vehicle isn’t stolen, said Bryan Gast, vice president of investigative services with Équité Association.

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News Claims TechnologyInsurersOperationsTechnology

Why your team needs to focus on software development

September 16, 2022 by Jason Contant

Organizations that achieve faster digital transformation end up becoming more innovative in the long-term, a speaker said Wednesday at the Future of Insurance Canada 2022 conference, hosted in-person in downtown Toronto by Reuters Events. Raj Utraja, vice president of technology

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News BrokersBusiness InterruptionClaimsCommercialInsurersLiabilityLoss Control

It’s not always wise to base coverage solely on clients’ balance sheets

September 16, 2022 by David Gambrill

Less than one-quarter of Canadian businesses have trade credit insurance, which protects their receivables against buyer default and bankruptcies, but Intact Insurance predicts that market penetration is likely to change as the pace and size of interest rate hikes could

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News BrokersClaimsClaims TechnologyCommercialCommercial AutoEmerging RisksInsurersPersonal AutoPersonal Home

Industry hasn’t done a great job of service: broker execs

September 16, 2022 by Alyssa DiSabatino

The Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax.  What’s the good news? The industry can meet and maintain service levels through collaborative

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How Canadian P&C brokers feel about their hours and pay

September 16, 2022 by David Gambrill

A vast majority of Canadian P&C insurance brokers don’t appear to be “quiet quitting,” a recent Canadian Underwriter online poll suggests. When brokers were asked if they adjust their weekly work hours so they align better with the compensation they

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News BrokersEducationHRInsurersManagementOperations

P&C industry should consider “under-hiring” to fill talent gap: RIMS panel

September 15, 2022 by Alyssa DiSabatino

P&C insurance is still struggling to backfill employees, as executives retire and the Great Resignation directs workers to other industries, industry experts told delegates attending a RIMS Canada Conference panel in Halifax. Possible solutions include turning to students (via apprenticeships),

Helen DiVito
News CommercialInsurersRisk Managers

WTW’s new global client exec for Canada

September 15, 2022 by David Gambrill

Helen DiVito is the new executive global client advocate for Canada at WTW, a global advisory, broking, and solutions company. As global client advocate, DiVito will be responsible for developing and maintaining relationships with risk and finance executives at Fortune

Every cloud has a silver lining
News CommercialInsurersProperty

How inflation can become a ‘silver lining’ for the insurance industry

September 15, 2022 by Philip Porado

Interest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on

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News BrokersBusiness InterruptionCommercialEmerging RisksInsurersRisk Managers

Commercial insureds favour supply chain certainty over higher costs of goods

September 14, 2022 by David Gambrill

Commercial clients of the Canadian P&C industry are pragmatically accepting higher costs of goods to achieve more certainty around product and service delivery, one P&C industry executive observed. It’s a pragmatic response to a volatile world featuring war, a looming

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News Emerging RisksInsurers

Strategies for mitigating business loss from supply chain delays

September 14, 2022 by Alyssa DiSabatino

To mitigate supply chain risk, commercial brokers and risk managers can advise their insureds to expand their vendor networks, manage and revisit their contracts regularly, work with local suppliers, and remove links in the chain, industry experts said in a

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News CatastrophesClaimsCommercialEnvironmentalInsurersLoss TrendsManagementMergers and AqcuisitionsOperationsPersonal AutoPersonal Home

Post-demutualization: Definity’s plans for the future

September 13, 2022 by Jason Contant

Definity Financial Corporation is maintaining its goal of becoming a Top 5 insurance company through a combination of organic growth and M&A activity, Definity president and CEO Rowan Saunders suggested during a recent financial services conference. “One of the drivers

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News CatastrophesEmerging RisksEnvironmentalInsurersRisk Managers

Why your business should use integrated models of risk

September 13, 2022 by Alyssa DiSabatino

In the midst of geopolitical volatility, a changing climate, inflationary pressures, emerging energy products and more, the best thing risk committees can do is build integrated models of risk, says Janice Gross Stein, founding director of the University of Toronto’s