Canadian Underwriter

News


News InsuranceMergers and Aqcuisitions

A sneak peek at the new brand for La Capitale/SSQ

November 25, 2020 by Greg Meckbach

The new name of the mutual insurer formed through the merger of La Capitale and SSQ Insurance will not use either of the existing monikers, an executive for the Quebec City-based firm suggested Tuesday. “In 2020, we started working on…

News Insurance

The case for using data for diversity and inclusion in senior ranks

November 25, 2020 by Jason Contant

Insurance companies are used to collecting data, but they need to do a better job of using data around race and gender to build diversity and inclusion in their senior ranks, speakers said Tuesday at KPMG’s 2020 Insurance Conference. Insurers…

News Insurance

Central Labrador snowfall breaks one record, nearly smashes a second

November 25, 2020 by The Canadian Press

HAPPY VALLEY-GOOSE BAY, N.L. – A two-day snowstorm that began Monday has buried central Labrador under a record-setting blanket of snow. Environment Canada meteorologist David Neil said today the 75 centimetres of snow covering Happy Valley-Goose Bay is the second-largest…

News Insurance

Paid On the move – the future of Mobility in an ever-changing world

November 25, 2020 by Liberty Mutual Canada

Emerging technologies and the COVID-19 pandemic have propelled the need for carriers to develop new ways of insuring the future of transportation. COVID-19, in particular, has highlighted how transportation and mobility patterns can change in an instant. For example, as…

News Insurance

Cyber insurance: Most frequent and costly claims revealed

November 24, 2020 by Jason Contant

External attacks on companies result in the most expensive cyber insurance losses, but internal failures like employee mistakes and technical problems are the most frequent generator of claims by number (albeit with a lower financial impact), a new report says.…

News ClaimsClaims CanadaInsuranceLegal

What can happen if cargo and business interruption insurer file separate subrogated claims

November 24, 2020 by Greg Meckbach

Two subrogated commercial claims, for a total of about $1.5 million, may be headed to trial in Ontario. Among the issues are how Ontario’s Carriage of Goods Regulation applies to goods going in and out of province, and whether a…

News AssociationsBrokersTechnology

IBAO’s stance on electronic termination of coverage

November 24, 2020 by Greg Meckbach

Insurers should be allowed to terminate auto policies electronically if consumers consent, the Insurance Brokers Association of Ontario’s CEO says. In its budget document released Nov. 5, the Ontario government said the next phase of its previously-announced “blueprint” for auto…

News Insurance

COVID-19 doesn’t mean putting your career on hold: Insurer exec

November 24, 2020 by Adam Malik

The global COVID-19 pandemic has changed the way people work and learn but similar to how brokerages and insurance companies continued to operate in a new environment, learning and growth opportunities shouldn’t have to stop, said the leader of an…

News Insurance

‘Nasty day’ in Labrador as blizzard dumps 63 cm of snow – and counting

November 24, 2020 by The Canadian Press

HAPPY VALLEY-GOOSE BAY, N.L. – People in parts of Labrador are facing a few tough shifts of snow shovelling. As a blizzard rips across much of Labrador today, Environment Canada meteorologist David Neil says Happy Valley-Goose Bay was leading the…

News Insurance

How this mutual insurer eliminated phone tag

November 23, 2020 by Greg Meckbach

Artificial intelligence is being used now to support human staff with text messaging being a prime example, an Ontario mutual CEO says. “We are seeing a reduction in cycle times that we have now eliminated that dreaded phone tag that…

News AdjustersCatastrophesClaimsClaims Canada

The Alberta hail cat has not stopped biting

November 23, 2020 by Greg Meckbach

Insurers are still receiving new claims from the June 2020 Alberta hail storm that is estimated to have cost the industry more than $1 billion. “We are actually still seeing some new losses reported from the June storm today,” said…

News Insurance

Will Alberta move to a pure no-fault auto insurance system?

November 23, 2020 by Jason Contant

An Alberta auto insurance advisory committee has recommended the province move to a pure no-fault system delivered by private insurers, a change that the Insurance Bureau of Canada (IBC) does not feel would be in the best interest of drivers.…