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Opinion: How COVID-19 is changing the P&C talent landscape

June 3, 2020 by Michael Vecchio, Sevenstep

The coronavirus pandemic could end up having a positive effect on the property and casualty insurance industry when it comes to finding new talent. COVID-19, the disease caused by the virus, has had a strong impact on the insurance industry…

News AdjustersClaimsClaims CanadaInsurance

How Lloyd’s is handling claims differently with COVID-19

June 3, 2020 by Greg Meckbach

In response to the ongoing pandemic, the Lloyd’s market is changing the way claims are handled when multiple syndicates write one risk. “One challenge with COVID-19 is the subscription nature of the market, whereby it is often several syndicates writing…

News AnnouncementsAppointmentsInsurance

Guess who Desjardins appointed to lead national growth?

June 3, 2020 by David Gambrill

Desjardins has tapped Marilyn Horrick to be its senior vice president of the Ontario market, effective June 8, 2020. “Thrilled to be joining this world-class organization one week today,” Horrick posted on LinkedIn. “Moving into a role that keeps me…

News EmploymentLegislation / Regulation

Bank of Canada keeps key rate target on hold, expects return to growth in Q3

June 3, 2020 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The economy appears to have avoided a worst-case scenario due to the COVID-19 pandemic, the Bank of Canada said Wednesday as it kept its key interest rate steady at its lower bound. The bank left its target for…

News ClaimsClaims CanadaInsuranceRisk

How liability insurers will react to military report on long-term care homes

June 2, 2020 by Greg Meckbach

A recently military report on some Canadian long-term care facilities will change the way liability coverage is underwritten and could even discourage some insurers from staying in the market, a managing general agent suggests. “I think you will probably see…

News ClaimsClaims CanadaInsuranceLegal

COVID-related fraud schemes that IBC has observed

June 2, 2020 by Greg Meckbach

Four vehicles were reported stolen to separate insurers, from the same driveway, on the same night in Brampton, Ont. This is just one example of alleged fraud identified shortly after the onset of the COVID-19 pandemic, the Insurance Bureau of…

News BrokersInsuranceTechnology

Q&A: Business Continuity in the Digital Age

June 2, 2020 by David Gambrill

Many insurance professionals in the Canadian property and casualty insurance industry are taking a long-term view of the global novel coronavirus pandemic, seeing a world beyond the point at which a vaccine is developed and the virus no longer presents…

News CatastrophesClaims

How much insurers paid out for Fort Mac’s spring flood

June 2, 2020 by Adam Malik

Insurers paid out more $228 million in insured damage for spring flooding in Fort McMurray, Alta., that occurred a little over a month ago. Catastrophe Indices and Quantification Inc. (CatIQ) released the numbers this week, noting that commercial properties took…

News ClaimsRisk

Large protest gatherings pose COVID 19 risks: B.C. health officials

June 2, 2020 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – Large public gatherings, including anti-racism protests, pose health risks during a pandemic, British Columbia’s top health officials said Monday. Provincial health officer Dr. Bonnie Henry said people in B.C. have the right to protest and express their feelings,…

News BrokersInsurance

Opinion: Are your clients buying enough E&O coverage?

June 1, 2020 by By Tom Chaplin, CFC Underwriting

Your clients are putting themselves at greater risk if they’re relying on general liability instead of proper errors and omissions coverage to guard against any issues that may arise. The responsibility falls to brokers to ensure their clients have the…

News BrokersCatastrophesInsuranceMergers and Aqcuisitions

Q&A: Business Continuity in the Digital Age

June 1, 2020 by David Gambrill

As an industry challenged by all of the various disasters that the world has to offer, many Canadian property and casualty insurance companies already had business continuity plans in place to keep their operations running in the face of a…

News CatastrophesClaimsClaims Canada

Flood warnings expand for part of B.C., but conditions ease elsewhere

June 1, 2020 by THE CANADIAN PRESS

Flood warnings now cover a large section of southern British Columbia as river levels rise rapidly in response to heavy weekend rains and continuing snowmelt. The River Forecast Centre extended a flood warning Monday to the Boundary region, including the…