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Your Canadian clients’ top business risks in 2024

January 17, 2024 by Alyssa DiSabatino

Canada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024.   Over half (57%) of respondents in Canada said business interruption was their number one risk,

Wind, sun and water energy
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Canada ‘trailing partners’ on securing vital utilities and services: internal memo

September 5, 2023 Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A newly released federal memo concedes Canada is “trailing key international partners” who have updated their approaches to securing vital utilities and services from a growing array of risks. The Public Safety Canada memo says “new and rapidly

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How commercial brokers have evolved into holistic risk advisors

June 20, 2023 David Gambrill

With insurance underwriters now voicing preference for ‘best-in-class’ commercial risks, it’s fallen to brokers to educate their clients about how to reduce their losses. And that means commercial brokers are becoming more like holistic risk advisors, making recommendations to their

Insurance technology can hep new brokers learn
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How broker tech can reduce E&O exposure  

June 16, 2023 Alyssa Di Sabatino

A growing wave of retirements means Canada’s property and casualty (P&C) insurance brokerages are losing the knowledge and experience of many of its senior leaders. “Many brokerages run into issues because they don’t have a system for knowledge transfer, which

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How hybrid work can increase broker E&O risk

May 31, 2023 David Gambrill

Workplace flexibility, one feature of a hybrid workplace, has proven to be a selling point to attract younger brokers. But the hybrid office makes it difficult to supervise newly recruited brokers to make sure they’re doing things correctly, broker E&O

What's the economic outlook for 2023?
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What financial uncertainty may mean for D&O claims

April 12, 2023 Philip Porado

Private companies, including not-for-profits, face rising legal and other exposures from lenders and private investors, customers and employees that can impact Directors & Officers (D&O) insurance policies. And, over the past three years, economic volatility has emerged as a key

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Why construction insurance rates are starting to climb

July 12, 2021 by Adam Malik

Canada’s lack of skilled workers means construction projects may not be hitting the mark in terms of quality and craftsmanship, leading to the greater likelihood of an insurance claim. It’s already happening, observes Darren Tasker, head of energy and construction

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How to convince your clients that buying insurance isn’t a waste of money 

June 15, 2021 by Jason Contant

One 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

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Risk managers’ takeaway from COVID-19: Yes, it can happen to us

April 23, 2021 by Adam Malik

The global COVID-19 pandemic has taught risk managers to be prepared for any threats, no matter how unlikely or far-fetched they may seem, industry experts said at a RIMS conference webinar panel. The risk of a pandemic has been on

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Insurers seek federal grants for homeowners to improve basement flood protection

April 21, 2021 by Greg Meckbach

The industry is pushing to make federal grants available for Canadian homeowners to reduce basement flood risk. In the fall of 2020, the federal government announced its Greener Homes initiative. When the program rolls out, the plan is to provide

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What insurers aren’t passing on to their clients

March 9, 2021 by Adam Malik

Canadian consumers are still foggy about the purpose and content of their home, auto and business insurance, and the onus is on the industry to help them understand, a pair of industry executives said during a recent webinar. Discussions with

News Insurance

Would your client actually buy a pandemic risk product?

February 25, 2021 by Jason Contant

Even if insurance products were available for pandemic risk specifically, several businesses say they wouldn’t anticipate becoming more dependent on risk financing or insurance as a result, according to the results of a global survey from Aon. Few companies have