Canadian Underwriter

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Court of Law Trial: Female Judge and and Jury in an E&O lawsuit
News BrokersClaimsLegalLiabilityOperations

How brokers can avoid an E&O lawsuit

February 22, 2023 by David Gambrill

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

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News BrokersClaimsInsurersLegalLiabilityOperations

Pace of P&C industry cited as a reason for more broker E&O claims

February 17, 2023 by David Gambrill

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

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News BrokersOperationsTechnology

How much time and effort brokers could save with API connectivity

February 14, 2023 by David Gambrill

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

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News BrokersOperationsTechnology

How one company is tackling brokers’ pain point of repetitive data entry

February 13, 2023 by Jason Contant

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

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News BrokersOperationsPersonal AutoPersonal HomeQuebec

Quebec brokers build aggregator to benefit the broker channel

February 10, 2023 by David Gambrill

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

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News AdjustersBrokersCatastrophesClaimsClaims ProfessionalsInsurersOperations

It’s time to address Canadian adjuster mobility, claims experts say

February 10, 2023 by Alyssa DiSabatino

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

Offering a prospective employee the job
News B.C.HRInsurersManagementOntarioOperations

What prospective talent looks for when choosing a P&C employer

February 3, 2023 by Jason Contant

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

Looking to the future concept
News AlbertaB.C.BrokersCommercialHRInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsP.E.I.QuebecSaskatchewan

What’s next for Wawanesa after senior executive shuffle?

January 30, 2023 by Jason Contant

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

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News AlbertaB.C.BrokersHRInsurersManagementManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsP.E.I.QuebecSaskatchewan

Wawanesa appoints two industry veterans to new leadership roles

January 26, 2023 by Jason Contant

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

Wooden cubes spelling out International Financial Reporting Standards
News CommercialLegalOperations

Will IFRS 17 make insurers’ results harder to compare?

January 25, 2023 by Philip Porado

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

Talent magnet: Attracting the best people
News HROperations

Try these innovative approaches to attract talent

January 17, 2023 by Jason Contant

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

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News BrokersBusiness InterruptionCatastrophesClaimsCommercialCommercial AutoCyberEmerging RisksEnvironmentalInsurersOperationsProperty

What are Canada’s major business risks for 2023?

January 17, 2023 by Alyssa DiSabatino

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%),