Canadian Underwriter

News

News InsuranceLegislation / RegulationMarkets / Coverages

Potential opportunity in mining insurance

December 5, 2019 by Greg Meckbach

Insurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a…

News ClaimsInsurance

Why thieves love the older models of Ford pickup trucks

December 5, 2019 by Adam Malik

Ford trucks once again topped the list of most-stolen vehicles in Canada, according to the latest report from Insurance Bureau of Canada (IBC). But the thieves don’t want the new models: it turns out that nine of the 10 most…

News Insurance

Claims talent spread thin? No worries: digitize your claims triage

December 5, 2019 by David Gambrill

With talent spread thin in greying claims departments, insurers are looking to use AI to help digitize their claims triage process and other workflows. Officially, it’s called “intelligent process automation” (IPA),” a combination of workflow processes, automation and artificial intelligence…

News AppointmentsBrokersInsurance

Gallagher names CEO of Canadian brokerage operations

December 5, 2019 by Jason Contant

Dave Partington has been named CEO of Gallagher’s Canadian retail property and casualty brokerage operations. Gallagher is a global insurance brokerage, risk management and consulting services firm. Partington will lead the strategy and culture for continued growth across Canada, according…

News RiskTechnology

Growth in data breaches shows need for government regulations

December 5, 2019 by Michael Parent, Professor of Management Information Systems, Simon Fraser University - THE CANADIAN PRESS

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Michael Parent, Professor of Management Information Systems, Simon Fraser University…

News BrokersInsurance

How a lack of communication with other sectors is hurting insurance

December 4, 2019 by Adam Malik

When change hits other industries, property and casualty insurance leaders need to be included in the process to assess the impact such changes would have on insurance, says one veteran broker. Otherwise, don’t be surprised when insurance pros are caught…

News InsuranceRiskTechnology

Brokers tackle distracted driving with social media campaign

December 4, 2019 by Jason Contant

Insurance Brokers Association of Canada (IBAC) and Canada Safety Council (CSC) have teamed up for a new social media-led campaign timed to coincide with Distracted Driving Week, which runs until Dec. 7. The campaign focuses on two key distracted driving…

News InsuranceTechnology

Why solvency regulator is concerned about ‘black box’ underwriting

December 4, 2019 by Greg Meckbach

Concerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville…

News BrokersInsuranceMergers and AqcuisitionsTechnology

Applied Systems to acquire Indio Technologies

December 4, 2019 by Jason Contant

Applied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major…

News Earnings / RatingsRisk

Trade conflicts and uncertainty remain a key risk: Bank of Canada

December 4, 2019 by Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, noting that while global recession concerns are waning, trade conflicts and related uncertainty continue to remain a key risk. The central bank’s overnight rate target has…

News BrokersEmploymentInsurance

Why recruitment experts say brokers need to change their image

December 3, 2019 by Greg Meckbach

Finding it harder to recruit young people? Try explaining what insurance brokerage employees actually do, panelists advised brokers at a recent conference. “People who don’t work in the insurance industry have a distorted view of what it’s like to be…

News Commercial LinesInsuranceMarkets / Coverages

The biggest challenges facing the commercial auto space

December 3, 2019 by Jason Contant

Capacity issues, cross-border exposure, ongoing trade negotiations and liability losses are some of the biggest challenges in the commercial transportation space, a speaker said last week at Insurance Bureau of Canada (IBC)’s inaugural Commercial Insurance Symposium. “In the past four…