As the market transforms, risk managers are looking for their brokers to keep them up to speed on market dynamics and why they are happening, a panel discussion said. Times are more challenging for everyone in the insurance industry, which…
Facing increasingly difficult market conditions means now’s the time risk managers can prove their true worth, one expert told a recent panel. Steve Pottle, director of risk management at Thompson Rivers University in Kamloops, B.C., said that as renewal costs…
While it feels like cyber threats have been around for some time, they’re still at the top of the list of emerging and ongoing risks for some industry professionals. But there are others that are grabbing the attention of insurance…
Technology has been great for the insurance industry. But it’s also been creating problems, specifically creating a difficult market cycle. And it’s not the only reason why one panellist at the recent RIMS Canada Conference said the industry is “at…
Debating on taking that risky project others seem to be shying away from? One insurance leader believes you should jump all over it. There was a point in her career when people told Christine Lithgow to not take on a…
Canadian consumers still “value the trusted advisor model” when buying insurance but there will soon be a “flipping” of brokers’ compensation model on commercial lines, whereby brokers will tend to earn more of their money on the consultative services, senior…
Terrorism and nuclear incidents are among the top risks keeping insurers awake at night, and the industry could do a better job of categorizing risk, chief executive officers of insurance providers suggested Wednesday to risk managers in Toronto. “Climate change…
The City of Toronto is taking an all-encompassing approach to automated vehicles by examining their potential impact on a variety of city departments, attendees to the RIMS Canada Conference heard on Monday. AVs could impact taxi regulations, employment, social services,…
Insurers would be well-advised to track the evolving marijuana risk to determine if impairment-related loss history could trigger defence and indemnification obligations under employers’ general liability policies, it was suggested Tuesday during a session at the RIMS Canada Conference in…
Risk managers dealing with internal fraud investigations need to get brokers and carriers involved early in any fraud investigation, regardless of whether or not criminal charges are being pursued, and ensure that evidence is preserved, RIMS Canada Conference speakers suggested…
Autonomous vehicle (AV) technology will require a reassessment of liability and the uncertainty surrounding liability may even slow the introduction of AV technology, a speaker suggested on Monday at the RIMS Canada Conference. Jim Kidd, project manager at the City…
Cyber extortion can take several different forms, including attempts to blackmail employees into giving away sensitive information, and different insurers have different cyber policy wordings to deal with extortion, RIMS Canada Conference speakers suggested Monday. In addition to “plain Jane…