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Gore Mutual

News AssociationsInsuranceLegislation / RegulationMarkets / CoveragesTechnology

Is the slow pace of regulatory change putting the industry at risk?

June 19, 2018 by Jason Contant

The insurance industry is at risk if regulators don’t recognize that consumer expectations are changing and allow consumers the choice of receiving their policy documents electronically, the president and chief executive officer of the Centre for Study of Insurance Operations

News CatastrophesClaimsClimate ChangeInsuranceMarkets / Coverages

$400M Ontario windstorm ‘not quite’ the new normal

June 15, 2018 by Jason Contant

If water is the new fire, then what is weather? For Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction (ICLR), weather is definitely what will be taking the lion’s share of payouts in the next quarter century.

News CatastrophesClaims

Insurers consider weekend storm in Ontario Cat event

April 16, 2018 by Greg Meckbach

Recent severe weather in Ontario, with six inches of ice pellets and winds exceeding gale force in some areas, will most likely be a CAT event, insurance companies report. But with rainfall warnings persisting Monday, one insurer reported more than

News InsuranceProfessional Development

Re-imagine your brokerage office (think retail)

April 5, 2018 by David Gambrill

Brokers need to reinvent how they provide face-to-face advice to their clients, changing their physical office model to reflect a more modern approach inspired by a quick and easy online experience. “Brokers need to start thinking about it in terms

News InsuranceMarkets / CoveragesTechnology

Artificial Intelligence, the latest cybersecurity threat

February 19, 2018 by Jason Contant

Artificial intelligence (AI) could be a double-edged sword for Canada’s property and casualty insurance industry, offering several potentially positive outcomes, but at the same time a new cybersecurity threat. AI is consistently touted by the insurance industry for its potential

News AppointmentsInsuranceMarkets / CoveragesProfessional Development

Gore Mutual welcomes two new executives

January 18, 2018 by Jason Contant

Paul Jackson has been appointed chief marketing and distribution officer for Gore Mutual, effective immediately. Jackson will report to the insurer’s president and CEO Heidi Sevcik. Jackson has played a key role in Gore Mutual’s transformation since joining the organization

News Earnings / RatingsInsuranceMarkets / Coverages

Why insurers don’t want a sudden hike in interest rates

January 8, 2018 by Greg Meckbach

Insurers might be happy if lending rates rise by a few percentage points, but a financial executive with one mutual warns a sudden rise in interest rates carries a noticeable risk. The Bank of Canada announced in December it is

News CatastrophesInsuranceMarkets / CoveragesReinsurance

2018 Outlook: Heidi Sevcik, President, CEO, Gore Mutual Insurance Company

January 2, 2018 Heidi Sevcik

The pace of change in the property and casualty market remains faster than ever before, increasing the need for cooperation and innovation in 2018. The increasing frequency of severe weather events emphasizes the importance of the industry and governments working

News InsuranceMarkets / CoveragesTechnology

Your primer on crowdsourcing techniques

December 8, 2017 David Gambrill, Editor-in-Chief

Crowdsourcing, as defined by the consulting firm Crowd Sourcing Week, is “is the practice of engaging a ‘crowd’ or group for a common goal — often innovation, problem solving, or efficiency. It is powered by new technologies, social media and

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

IBAO CEO panelists discuss brokerage acquisitions

October 27, 2017 Greg Meckbach, Associate Editor

Acquisitions by insurers “have had an impact on valuations” of brokerages, but the price a brokerage owner could get be selling the business is also affected by factors such as growth and profitability, insurance carrier chief executives suggested Thursday. “Insurer

News InsuranceLegislation / RegulationMarkets / Coverages

‘Clock is running’ as Economical Insurance prepares for public offering: Saunders

October 26, 2017 Greg Meckbach, Associate Editor

Economical Insurance is looking to “expand its appetite and capabilities into other segments” of the market as it prepares for an initial public offering, president and chief executive officer Rowan Saunders suggested Thursday to Ontario brokers in Ottawa, while Gore

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Small Canadian mutual insurers ‘may not realize’ all benefits of demutualization: A.M. Best

September 1, 2017 by Canadian Underwriter

While Economical Insurance plans to submit next year a conversion proposal outlining a proposal to demutualize, if a smaller mutual property and casualty insurer were to go through the same process as Economical, it “may not realize the benefits when