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What insurers requested of police chiefs

June 24, 2019 by Adam Malik

Insurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau…

News EngineeringInsurance

The new trend for handling disputed property claims

June 24, 2019 by Greg Meckbach

What happens when your client’s property is damaged and the insurer disagrees with the claimant on how much work is needed to restore it? Some of these claims disputes can result in lawsuits, when the claimant brings the insurer to…

News InsuranceLegislation / Regulation

What cabinet upheaval means for auto reform progress

June 24, 2019 by Adam Malik

Ontario Premier Doug Ford has made drastic changes to his cabinet just months after including auto reforms in its first budget. Taking over as finance minister – and in effect, the auto insurance file – will be Rod Phillips. The…

News Insurance

How much of your salary would you give up for more meaningful work?

June 24, 2019 by Jason Contant

How much would you give up in annual pay for more meaningful work at your brokerage? A recent study of 1,500 Canadian office workers found that almost half of them would give up nearly $9,000 in an annual pay raise…

News Insurance

Cool weather calms B.C. wildfire, traffic disrupted

June 24, 2019 by THE CANADIAN PRESS

VANCOUVER – A small wildfire is burning just above the highway connecting Vancouver and Whistler. The fire along Highway 99, the Sea-to-Sky corridor, broke out early Sunday morning on a steep, rocky slope between Horseshoe Bay and Lions Bay. The…

News InsuranceRiskTechnology

How not to manage risk at a cryptocurrency provider

June 21, 2019 by Michael MacDonald - THE CANADIAN PRESS

HALIFAX – The accounting firm investigating the unseemly demise of Canada’s QuadrigaCX cryptocurrency exchange is accusing the company’s late founder of creating fake trades and transferring customer funds into his personal accounts, where the money was used for high-risk margin…

News ClaimsInsuranceLegal

Why insurers can expect claims from the Raptors parade

June 21, 2019 by Adam Malik

It won’t surprise at least one lawyer to hear about insurance claims stemming from the Toronto Raptors championship parade. There were plenty of exposures present during the event on June 17, mainly because of a lack of resources available and…

News Legislation / Regulation

What open banking means for brokers

June 21, 2019 by Greg Meckbach

Brokers should see open banking as more of an opportunity than a threat, a partner with EY Canada suggests. Open banking is a system in which consumers could consent to sharing their banking transaction data with other financial services providers,…

News InsuranceTechnology

Digitizing your brokerage? Pay attention to the ‘frozen middle’

June 21, 2019 by Jason Contant

What’s the secret to successful digital transformation? The key is to get buy-in from the lower levels of the organization, said Paul Chapman, chief information officer (CIO) at Box Inc., a provider of cloud content management and file-sharing service for…

News CatastrophesClaimsClaims CanadaClimate Change

Why climate change might be worse than you think

June 21, 2019 by Greg Meckbach

If you are using today’s climate models to predict the frequency and severity of tomorrow’s severe weather, your estimates could be off, suggests a recent convocation speaker at a major Canadian university. Recent unusual patterns in the jet stream are…

News ClaimsInsurance

Here are the most common type of travel insurance claims

June 20, 2019 by Jason Contant

Think you don’t need travel insurance? Think again. According to a recent survey conducted on behalf of RBC Insurance, just over one-quarter (26%) of 1,000 Canadians polled have made an insurance claim as a result of something that happened to…

News Climate ChangeRisk

The key role of risk managers during climate change

June 20, 2019 by Adam Malik

Financial companies, including insurers, are moving positively towards dealing with climate change but more needs to be done – and it will need to be risk managers at the forefront to prepare their companies, according to a new study. The…