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A cybercriminal hijacks an autonomous vehicle. Who’s responsible for a crash?

May 12, 2021 by Adam Malik

Vehicle manufacturers are likely going to be on the hook for damages following autonomous car crashes in which no human being is controlling the vehicle, a cyber insurance specialist says. “Certainly, one of the more dramatic ways of thinking about…

News Brokers

Mitchell & Whale’s bold new plan to become a Top 20 brokerage by 2030

May 12, 2021 by Greg Meckbach

By aiming for a customer experience that consumers expect and receive from non-insurance companies, Mitchell and Whale is planning to become a Top 20 national broker by 2030. “We are not targeting an experience that we know exists inside of…

News Insurance

The catastrophe that would overwhelm Canada’s P&C industry

May 12, 2021 by David Gambrill

A major catastrophe event resulting in insurance claims exceeding $35 billion would likely overwhelm the capacity of Canada’s insurance industry, according to a recent report by the Property and Casualty Insurance Compensation Corporation (PACICC), How Big is Too Big? At…

News Insurance

Flooding forces 700 people out of their homes in Fort Simpson, N.W.T.

May 12, 2021 by The Canadian Press

FORT SIMPSON, N.W.T. – A mayor in the Northwest Territories was watching for movement in slabs of ice and snow sitting on top of one of two rivers threatening his community on Tuesday. About 700 of Fort Simpson’s 1,200 residents…

News Insurance

Gallagher to acquire certain Willis Towers Watson assets

May 12, 2021 by Jason Contant

Arthur J. Gallagher & Co. has announced an agreement to acquire certain Willis Towers Watson reinsurance, specialty and retail brokerage operations as part of a proposed “regulatory remedy” for the pending Aon and Willis Towers Watson deal. Under the agreement,…

News Insurance

NBS 2021 The value of risks assessments

May 11, 2021 by Sovereign Insurance

Every business leader knows they should expect the unexpected, especially in today’s unpredictable world. However, when it comes to risk exposures no business should be caught by surprise. To be truly prepared, organizations should evaluate and reevaluate potential threats to…

News BrokersInsurance

Aon’s approach to post-pandemic travel and entertainment

May 11, 2021 by Greg Meckbach

As business leaders await an easing of pandemic lockdown restrictions, Aon Plc executives suggest that, going forward, they plan to apply the lessons they’ve learned during COVID-19 regarding collaboration. “We are going to be smart about how we do [travel…

News Insurance

Municipal insurers heading for the exits, broker exec reports

May 11, 2021 by Adam Malik

A decade of sliding down a slippery financial slope has prompted insurers to run for the exits in the municipal insurance line of business. A number of companies have exited the market, with more possibly to follow, leaving brokers with…

News Insurance

Merger mania: Multiple brokerage deals announced in May

May 11, 2021 by Jason Contant

May 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario.  Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.…

News BrokersInsuranceMarkets / Coverages

The Number 1 challenge facing Canada’s broker channel

May 11, 2021 by David Gambrill

Out of all the challenges facing the broker channel right now, the hard market is the biggest one of them of all, according Canadian Underwriter‘s 2021 National Broker Survey. Seventy-four per cent of Canadian P&C insurance brokers who responded to…

News BrokersInsurance

Broker strategies for making it through the hard market

May 11, 2021 by David Gambrill

Brokers are currently caught between a pandemic and a hard market, with several insurers predicting that Canada’s hard market cycle in property and casualty insurance will last at least one or two more years beyond the end of the pandemic.…

News BrokersInsurance

Brokers cut insurers some slack during the pandemic

May 11, 2021 by David Gambrill

Brokers appear to be cutting their insurer partners a bit of slack during the pandemic, with more brokers agreeing this year that insurers are striking a fair balance between the interests of carriers and brokers. Over the past three years,…