New leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The…
Escalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims…
Increasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values…
As research drives new ways to build staircases that can prevent slip-and-falls, Canada’s building codes should be updated accordingly to reflect the safer designs. The importance of code updates is illustrated by falls on stairs, which in Ontario alone led…
Ransomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their…
No two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out…
Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never…
With the Global Federation of Insurance Associations (GFIA) citing a $900-billion cyber insurance protection gap, Canadian brokers are seeing a huge growth opportunity in cyber, with some predicting cyber insureds will ultimately overtake the proportion of those covered by property…
Self-driving cars have been a part of visions of the future for decades, and what was once only imaginary has started to become reality. Not only do self-driving cars exist, but five U.S. states (Arizona, California, Michigan, New Hampshire and…
When it comes to cybersecurity in 2023, employees are usually the weakest link, ethical hackers told Canadian Underwriter. This is especially true for smaller businesses, which often have no visibility into their corporate networks, little or no budget for cybersecurity,…
Coverage for high-value real estate, defined as sites worth $500 million or more, is often based as much on how those sites are used as on the physical assets themselves. Multi-use sites, where activities like manufacturing, distribution, logistics and management…
Generative AI is revolutionizing how cyber criminals enact their scams, making their targets fail to detect what would usually be obvious phishing attempts, experts shared with Canadian Underwriter. As these threats become more and more sophisticated, insureds must exercise…