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The case for using data for diversity and inclusion in senior ranks

November 25, 2020 by Jason Contant

Insurance companies are used to collecting data, but they need to do a better job of using data around race and gender to build diversity and inclusion in their senior ranks, speakers said Tuesday at KPMG’s 2020 Insurance Conference. Insurers

News BrokersInsurersLegalLicensingManagementOntarioOperationsPersonal AutoTechnology

IBAO’s stance on electronic termination of coverage

November 24, 2020 by Greg Meckbach

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto

News B.C.BrokersManagementManitobaMergers and AqcuisitionsOntarioOperations

Two ways COVID-19 affected this large brokerage’s M&A strategy

November 20, 2020 by Jason Contant

The COVID-19 pandemic required one large Canadian brokerage to take a “very different approach” to mergers and acquisitions (M&A) activity. COVID affected the M&A process in two significant ways, Jamie Lyons, president and chief operating officer with Westland Insurance Group

News BrokersInsurersOperations

What Canadian MGAs think about the proposed Intact-RSA merger

November 18, 2020 by David Gambrill

On the day Intact made its joint offer with Denmark-based insurance giant Tryg A/S to acquire RSA plc for Cdn$12.3 billion official, a Canadian association of managing general agencies (MGAs) expressed concern about the deal’s potential impact on market choice

News HRInsurersOperations

Swiss Re’s new head of P&C client markets in Canada

November 16, 2020 by David Gambrill

Agis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,

News BrokersManagementManitobaOperations

Brokers ready for new round of lockdowns

November 13, 2020 by Adam Malik

Manitoba went into lockdown Thursday morning after the province’s COVID-19 numbers ranked among the worst in the country and its healthcare system approached capacity. But this time, unlike the first go-around in the spring, brokers say they are in an

News MGAsOperations

Canadian MGA association hires new managing director

November 6, 2020 by David Gambrill

Steve Masnyk has been appointed as managing director of the Canadian Association of Managing General Agents (CAMGA), established in 2018 to advocate for Canadian MGAs. With more than 20 years of experience in government relations, Masnyk is the founder and

News ManagementOperations

Who’s heading Fairfax’s effort to improve opportunities for the Black community

November 5, 2020 by Greg Meckbach

Craig Pinnock, chief financial officer of Toronto-based Northbridge Insurance, is heading the Black Initiatives Action Committee for Fairfax Financial Holdings Ltd., Northbridge’s corporate parent. The Black Initiatives Action Committee has one representative of the Black community from each of the

News BrokersInsurersOperationsTechnology

Overcoming barriers to tech innovation: ‘If you don’t build it, they will leave’

November 5, 2020 by David Gambrill

In the 1989 hit movie Field of Dreams, starring Kevin Costner, 36-year-old Ray Kinsella is wandering through his cornfield one evening when he hears a voice whispering, “If you build it, he will come.” In this instance, “he” refers to

News InsurersManagementOperations

OSFI draft guideline tightens oversight of Canadian branches of foreign insurers

November 4, 2020 by David Gambrill

Canada’s solvency regulator has released a new draft guideline that tightens the regulator’s oversight of foreign insurance and bank branches in Canada. Among other changes to existing regulations, the Office of the Superintendent of Financial Institutions (OSFI) is requiring local

News OperationsTechnology

So you’re going digital. How much speed do you need?

November 3, 2020 by David Gambrill

While the global COVID pandemic may have sharpened the insurance industry’s focus on providing digital solutions to customers quickly, the speed at which the industry can move remains limited by traditional barriers such as a carrier’s organizational culture, regulation, and

News ClaimsClaims ProfessionalsInsurersOperations

How the industry’s reputation is faring during COVID

November 3, 2020 by Adam Malik

In a spirited debate about the insurance industry’s reputation during the COVID-19 pandemic, an insurance industry researcher said one big reason why some consumers don’t trust insurance companies is because when they submit a claim, they’re treated as if they’re