Keyword
COVID-19
Veteran broker calls for insurers to offer customers a premium freeze
April 6, 2020 by Jason ContantSaying the Canadian P&C insurance industry can do more to offer relief to consumers during the COVID-19 pandemic, one 40-year industry veteran recommends that insurers offer guaranteed renewals and a premium freeze at 2019 levels. Standard measures focus on a…
Fool’s errand: Why it’s difficult to estimate a return to the office
April 3, 2020 by Adam MalikReliable data related to the COVID-19 pandemic is hard to come by. That’s why “flattening the curve,” as health experts put it, and predicting a timeline to return to life similar to one pre-crisis is an exercise in futility, says…
Early lessons learned from the pandemic: Global demand surge
April 3, 2020 by David GambrillCanada’s P&C industry is used to planning for demand surges in times of disaster, but the demand for resources during the global COVID-19 pandemic is on a totally different scale. “Generally, I think people associate business continuity plans with isolated…
How much auto sales have dropped recently because of COVID-19
April 3, 2020 The Canadian PressTORONTO – DesRosiers Automotive Consultants Inc. says auto sales plunged 48 per cent in March from last year because of the Covid-19 pandemic. The consultancy says March sales looked to be only declining moderately for the first half of the…
Who are the P&C industry’s heroes during the pandemic?
April 2, 2020 by David GambrillExtraordinary leadership and acts of compassion during the current global COVID-19 pandemic have spanned far and wide, both within the Canadian property and casualty insurance industry and beyond, Canadian Underwriter discovered in a recent survey. More than 200 P&C industry…
Governments looking at further restrictions on people and businesses
April 2, 2020 Colin Perkel - THE CANADIAN PRESSTORONTO – An already grim economic and employment toll looked set to worsen Thursday as authorities pondered further tightening restrictions on people and businesses aimed at curbing the spread of the COVID-19 pandemic. Prime Minister Justin Trudeau said too many…
How Canada’s P&C industry will weather the economic storm from COVID-19
April 1, 2020 by Jason ContantCanada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus…
Employers will have to show they prepared workers to avoid breaches, lawyer says
April 1, 2020 David Paddon - THE CANADIAN PRESSTORONTO – Amid the mass transition to remote working as a result of the COVID-19 pandemic, most employers are likely focused on operational issues in order to get their employees up and running in their new home offices. However, in…
The huge price tag of U.S. political interference with COVID-19 BI exclusions
March 31, 2020 by David GambrillPoliticians in New Jersey, Ohio and Massachusetts have all drawn up proposed legislation that would force U.S. property and casualty insurers to pay for some business interruption claims for COVID-19 retroactively. The American Property Casualty Insurance Association (APCIA) says the…
How to help commercial clients during mandatory business shutdowns
March 31, 2020 by Jason ContantAs non-essential businesses shutter across Ontario, your commercial business clients can take a few common sense preventative measures to help ensure their insurance coverage remains in place and facilities are maintained. To further contain the spread of COVID-19, Ontario Premier…
How Trudeau’s wage subsidy package will affect brokers and their clients
March 31, 2020 by Jason ContantBrokers will likely see their incomes “relatively stable” during the COVID-19 crisis, at least for the time being, said the head of Ontario’s brokers association. “Generally, I think brokerages – if they have a spread of clients, which most of…
What Canadian P&C industry fears the most about the pandemic
March 30, 2020 by David GambrillCanada’s fragile economy is what’s keeping everyone in the P&C insurance industry awake at night. The unknown future of an economy that is almost certainly headed for a global recession figured in the Top 3 answers of what P&C insurance…