Prices in the cyber re/insurance market could rise sharply between 2021 and 2023, in some cases doubling from current levels, according to a report from S&P Global Ratings. “Depending on the region and [terms and conditions], policyholders could expect rate…
Manitoba Public Insurance (MPI) is reporting a 27% decrease in claims costs in the first quarter of 2021 compared to a year ago, primarily as a result of less vehicles on the road due to the COVID-19 pandemic. Claims costs…
TORONTO – Ontario is investing $100 million in the province’s tourism sector to help it recover from the impact of COVID-19. Tourism Minister Lisa MacLeod says the money will be distributed through the new Tourism Recovery Program. McLeod says the…
Two Canadian mutual insurers have announced they are implementing vaccination policies for their workforces. Gore Mutual Insurance Company and Wawanesa Mutual Insurance Company made the announcements earlier this week. “After hearing from employees, and keeping the health and well-being at…
TORONTO – When Sept. 11 comes, Natasha Koifman’s backyard will be awash with chatter and music as up to 100 guests gather for an elegant dinner meant to raise funds for Haitians to access education. But the public relations maven’s…
The ‘Triple As’ of strategic agility — avoid, absorb and accelerate — are distinct ways that successful companies navigated the COVID-19 pandemic, according to a recent blog from Harvard Business Review. Companies such as Airbnb that not just survived by…
TORONTO – Ontario’s Superior Court of Justice has certified a class-action lawsuit against fourteen insurance companies that denied business interruption claims related to COVID-19. The class action, launched by several small businesses including a suit store, a smoothie shop and…
To alleviate individual financial struggles due to COVID-19, the Federal government implemented the Canada Emergency Response Benefit (CERB) program. This initiative (currently in place until October 23, 2021) provides financial relief for eligible employers to cover a portion of their…
This year will be a record year for mergers and acquisitions insurance, a recent report by global independent broker BMS Group estimates. The inaugural Private Equity, M&A and Tax Insurance Report, released in May, found that while the COVID-19 pandemic…
Claims leaders will need to evolve their mindsets if property & casualty insurers are to succeed in meeting customer demands post-COVID, senior Desjardins Insurance Group execs suggest. “Before the pandemic, we thought we were doing a good job, but we…
MONTREAL – Quebec’s Crown prosecutor’s office says the owners of a Montreal-area long-term care home where dozens died during the first wave of the novel coronavirus pandemic will not face criminal charges. The office said today in a statement that…
Creating a “digital round trip” for all players in the insurance ecosystem – from broker to technology vendor to consumer – has really been catalyzed by the COVID-19 pandemic and the move to remote working, the CEO of tech vendor…