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How costly is the fire peril for Canadian insurers?

December 13, 2018 by Jason Contant

The traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed…

News BrokersInsuranceMGAsProfessional Development

How some brokerages and MGAs attract talent

December 13, 2018 by Jason Contant

What’s the best way of attracting qualified talent to your brokerage? Some brokerages and managing general agencies (MGAs) have cited looking outside the insurance industry or recruiting from local community colleges. McConville Omni Insurance Brokers, a personal and commercial lines…

News InsuranceLegislation / Regulation

How this ‘gap’ in privacy law affects tow-truck operators

December 13, 2018 by Greg Meckbach

If your client’s vehicle is towed in Manitoba, the auto insurer will not normally tell the towing company who owns the vehicle. “There is a gap in the [Manitoba privacy] legislation or, at a minimum, the administrative practices of the…

News InsuranceTechnology

How ‘exponential era technologies’ bedevil insurers

December 13, 2018 by Greg Meckbach

How you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you…

News InsuranceRisk

Bank robbery involves improvised explosive device

December 13, 2018 by THE CANADIAN PRESS

EDMONTON – Two security guards were injured in an explosion during an overnight armed holdup at a Scotiabank branch in northeast Edmonton. Police at the scene said the guards – a man and a woman employed by GardaWorld – suffered…

News BrokersInsuranceMergers and AqcuisitionsTechnology

Why your brokerage needs a lead management system

December 12, 2018 by Jason Contant

Brokerages going through a major transformation such as a merger should consider a lead management system, recommends the CEO of a brokerage that underwent a merger in 2015. “Really focus on a lead management system because otherwise you’ll have no…

News InsuranceTechnology

Is 2019 the year of hyper-personalized, omnichannel insurance in Canada?

December 12, 2018 by Jason Contant

Meeting consumers where they already are by moving towards an omnichannel strategy is one of the trends that will reshape the Canadian insurance industry in 2019, a market intelligence agency predicts. The application programming interface (API) mindset and integrated omnichannel…

News InsuranceLegislation / RegulationRiskTechnology

This commercial insurers’ concern caught the auditor general’s attention

December 12, 2018 by Greg Meckbach

Concerns from insurers about boiler explosions has prompted an Ontario safety watchdog to recommend more regulatory oversight of pressure vessels and boilers used in wineries and other agricultural operations, the auditor general noted in a recent report. “Ontario is the only…

News Legislation / RegulationRisk

This commercial line could see $24 million revenue increase

December 12, 2018 by Greg Meckbach

Federal regulations requiring liability insurance for boats that carry passengers take effect Jan. 11, Transport Minister Marc Garneau announced Wednesday. It is estimated the industry will make $24.8 million more, over 10 years, than it otherwise would have, the federal…

News EngineeringRisk

Risk factors at Humboldt Broncos crash intersection identified in report

December 12, 2018 by Ryan McKenna - THE CANADIAN PRESS

REGINA – A consulting firm says sight lines are a safety concern at the rural intersection where the deadly Humboldt Broncos bus crash happened. A 70-page safety review done for the Saskatchewan government says a stand of trees, mostly on…

News InsuranceMarkets / Coverages

What small business owners think of private auto insurance in B.C.

December 11, 2018 by Jason Contant

As debate rages on in British Columbia over public versus private ridesharing insurance options, the Canadian Federation of Independent Business (CFIB) has released new survey results that show nearly three of four small business owners support private auto insurance. CFIB…

News ClaimsRiskTechnology

Privacy breach hotel faces class action in Canada

December 11, 2018 by Tara Deschamps - THE CANADIAN PRESS

TORONTO – Canadians who stayed at Marriott International Inc. and Starwood Canada ULC hotels are taking legal action against the companies following a security breach. At least three proposed class actions have been launched in Toronto and Montreal against the…