A broker’s best defence against an errors and omissions (E&O) lawsuit can be summed up in three words — document, document, document. “You need to be able to prove you did [something],” broker E&O specialist Hugh Fardy, said in a…
The frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…
Adopting an Application Programming Interface (API) solution for broker-carrier connectivity will significantly reduce errors and save brokers between 11% and 17% of effort during the quoting process, according to a white paper released Tuesday by Insurance Brokers Association of Canada…
One Canadian company is taking a unique approach to deal with repetitive data entry, a major pain point for brokers. Vancouver-based Quandri uses software bots to automate certain portions of a brokerage’s operations, such as the renewal review process. Quandri…
Quebec’s broker association has built a new online quote aggregator system by brokers for brokers. “Some insurance companies would call it an aggregator, but I would say it’s more like an online rocket,” said Mathieu Brunet, vice president of MP2B…
Developing and effectively using the pool of Canadian claims adjusters for catastrophe response is a problem that continues to keep adjusting firms up at night, experts told a CatIQ Connect panel on Wednesday. “Most people don’t realize that seven of…
Flexible work arrangements remain a top consideration for aspiring Canadian P&C insurance professionals, according to a new poll from a Vancouver-based multi-disciplinary recruitment firm. The poll from Impact Recruitment found that, aside from monetary compensation, one in four professionals consider…
As Wawanesa Mutual Insurance Company changes its leadership structure with the appointment of three industry professionals to more senior leadership roles, industry veteran Carol Jardine — currently the insurer’s president of Canadian P&C operations — is also set to retire…
Wawanesa Mutual Insurance Company has changed the leadership structure of its Canadian operations with the appointment of industry professionals Anna McCrindell and Graham Haigh to senior vice president and chief operating officer roles. As SVP & COO – East, McCrindell…
At best, it will be difficult to make initial comparisons to insurers’ IFRS 17 results, due to differences between companies’ approaches under the new accounting standard, said a report this week from Fitch Ratings. A stated objective of the insurance…
Canada’s P&C insurance industry has been in the middle of the war for talent for a while now, so it would be well-served to take a look at some under-used or innovative approaches to hire and retain talent, as suggested…
Cyber incidents are the new top business concern for Canadian companies in 2023, according to the Allianz Risk Barometer 2023. The top three risks in Canada are cyber incidents (35%), the skilled workforce shortage (33%) and climate change (29%),…