Keyword
A.M. Best
How insurtech is making ‘significant inroads’
September 20, 2021 by Greg MeckbachCanada has hundreds of new insurtech startups and some of them can help you give consumers the experience they have come to expect from other industries, speakers suggested during the 2021 A.M. Best Canada Insurance Market Briefing. “I think our…
Why A.M. Best says the Canadian industry profitability is improving
September 15, 2021 by Greg MeckbachDespite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The…
How ‘take-home COVID’ can impact employers’ liability
January 13, 2021 by Greg MeckbachCOVID-19 can cause a commercial general liability claim if a commercial client is sued by the family member of a worker who has caught the disease at work and then infected family members, insurance law experts suggest. “Take-home COVID” is…
How A.M. Best predicts pandemic could affect the Canadian P&C industry
September 8, 2020 by Greg MeckbachAn increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so…
Reinsurers discuss the hard market, new bricks-and-mortar locations
August 18, 2020 by Jason ContantGiven the persisting novel coronavirus infections and the economic fallout from the pandemic, it seems unlikely any reinsurers would want to set up new physical locations this year, but that’s exactly what may happen, speakers said recently during an A.M.…
What an insurance solution for pandemic risk might look like
August 17, 2020 by Jason ContantThe P&C insurance industry has technical expertise it could bring to bear in covering future pandemics (risk management and claims adjustment experience, for example), but the financial losses would best be covered through public-private partnerships, speakers said recently during an…
Fraud schemes that financially-strapped clients may be considering
July 14, 2020 by Greg MeckbachSome consumers who owe money on vehicle loans during the COVID-19 pandemic may be tempted to make false auto theft claims, an independent adjuster warns. “Insureds who are desperate for money may have the vehicle stolen and burned to ensure…
Can Canada’s P&C industry withstand the 20% stock market drop?
April 7, 2020 by Greg MeckbachGiven that insurers rely on investments to supplement their underwriting income, how big of a concern is the recent nosedive in stock markets? “Right now, from the standpoint of reduction in equity values, the Canadian P&C segment as a whole…
Why insurers say auto premiums could come down
September 18, 2019 by Greg MeckbachAuto premiums in Canada rose more than 10% last year as loss ratios continue to climb, but some carriers are thinking about what to do if auto revenues come back down, an industry watcher suggests. “Some companies have indicated to…
What’s driving the brokerage acquisition trend
September 17, 2019 by Greg MeckbachNow is a good time for brokerages to sell their businesses and in some cases, the buyers come from outside the industry, speakers told insurance professionals at the recent A.M. Best briefing. “If I was in the [P&C] business I…
Insurtechs ‘hitting this wall called regulation’
September 16, 2019 by Greg MeckbachDespite the hoopla over insurtech, the Amazon model of commerce is not about to replace the broker any time soon, analysts with A.M. Best Company Inc. told Canadian insurance professionals. “A lot of what these insurtech companies are getting to…
How bad the industry’s loss has been in 2019 so far
September 13, 2019 by Greg MeckbachThe Canadian property and casualty industry lost money on underwriting during the first six months of 2019 – a performance worse than 2016, when Fort McMurray was devastated by wildfire, A.M. Best Company Inc. reported Friday. “2019 could be another…