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CatIQ Connect
It’s time to address Canadian adjuster mobility, claims experts say
February 10, 2023 by Alyssa DiSabatinoDeveloping 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…
Why atmospheric rivers, derechos and bomb cyclones are on insurers’ radar
February 9, 2023 by Jason ContantWild and wacky weather events like atmospheric rivers, derechos and bomb cyclones may seem new because of recent media coverage, but they’ve been known and named phenomena for quite some time in the history of meteorology and atmospheric science, speakers…
What’s the best way to increase earthquake insurance take-up in Quebec?
February 8, 2023 by Jason ContantThe best way to get consumers to buy earthquake insurance in provinces like Quebec is to find a balance between highlighting the benefits of early intervention and not making the narrative too scary, a research social scientist told delegates at…
Risk management outlooks crop up for farm insurers
July 20, 2022 by Alyssa DiSabatinoFarmers across Canada are being buffeted by a mix of drought conditions and hail damage in June and July, but insurers may be able to increase farmers’ risk management through drought and hail outlooks, experts explain. Southern Ontario farmers…
How reinsurers are helping banks to assess their climate risk
February 24, 2022 by Alyssa DiSabatinoAfter Canada’s solvency regulator said the financial sector must better respond to climate-related risks, one Munich Re executive says the global reinsurer is working closely with banks and other federally regulated financial institutions on their climate risk approach. Banks, he…
These socioeconomic factors are driving up property claims
December 7, 2021 by Greg MeckbachUrbanization, the increasing popularity of solar panels and a greater awareness of what is covered insurance are among the factors driving an escalation of insured property losses, a speaker suggested at last week’s CatIQ Connect conference. “Urbanization means that we…
What can be done just seconds before an earthquake hits?
December 7, 2021 by Jason ContantNatural Resources Canada (NRC) is developing an earthquake early warning system that will provide valuable time before an earthquake strikes to allow protective measures to be put in place for people and critical infrastructure. “It can provide anywhere between seconds…
How to convince your clients that buying insurance isn’t a waste of money
June 15, 2021 by Jason ContantOne of the biggest challenges for the insurance industry is convincing policyholders that they haven’t wasted their money if they constantly pay premiums but don’t have a claim. To overcome this challenge, insurers should help policyholders celebrate the fact that…
How to be really customer-centric: Lessons from the global insurance market
June 11, 2021 by Jason ContantCanada’s property and casualty insurance industry should look towards the global insurance market for some insights about how to increase take-up rates, particularly among marginalized and low-income people, speakers said Thursday at the CatIQ Connect virtual conference. In the global…
The hard part of managing wildfire risk
February 26, 2020 by Greg MeckbachYour clients may be doing all the right things to manage their wildfire risk, but what about the property halfway down the street? “You can have four homes in a row that are perfectly maintained, just the way they are…
Do insurance pros have a duty to restore a client’s well-being after a loss?
February 20, 2020 by Adam MalikBrokers are taught the principles of indemnity early in their training: Return the client to the same financial position they were in prior to the loss. But what about their clients’ mental well-being? Can the industry restore that to what…
How the P&C industry can help move the needle on building a climate-resilient society
February 14, 2020 by Adam MalikThe clock is ticking on taking action when it comes to creating more climate-resilient homes, neighbourhoods and cities, a panel warned at a recent conference. When asked by moderator Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction,…