News
What’s keeping claims pros up at night?
October 16, 2019 by Adam MalikTalent shortage and keeping pace with change are two of the top issues facing claims professionals over the next three to five years, but that’s just the start of their concerns. Meeting policyholders’ service level expectations and the volatility of…
Another insurer to withdraw coverage from oil sands
October 16, 2019 by Greg MeckbachStarting next year, Axis Capital Holdings Ltd. will stop writing new insurance and facultative reinsurance for oil sands extraction and pipeline projects. Pembroke, Bermuda-based Axis writes commercial specialty and reinsurance. Its new thermal coal and oil sands underwriting and investment…
Another province joins class action lawsuit against opioid manufacturers, distributors
October 16, 2019 by Bill Graveland - THE CANADIAN PRESSCALGARY – The Alberta government is joining a class-action lawsuit to recoup health-care costs related to the opioid crisis, the province’s health minister said Tuesday. Tyler Shandro said there were almost 800 fatal overdoses and 4,200 emergency calls related to…
Paid Climate Change: It’s Risky Business
October 16, 2019 by TrisuraAs we all know, climate change is one of the most prominent topics in the news – so much so that it is being touted as a major deciding factor for Canadian politicians in the upcoming federal election. But, what…
Want to attract young talent? Here are some tips
October 15, 2019 by Adam MalikThe old saying “It’s what’s on the inside that counts” is something insurance leaders need to take to heart when trying to get young people interested in their company, experts told a recent conference. Plastering your company name on the…
New auto insurance policy launched for borrowed vehicles
October 15, 2019 by Jason ContantQuebec’s financial regulator and an auto insurance group have announced the launch of a new auto policy designed for drivers who don’t own a vehicle. Regulator Autorité des marchés financiers (AMF) and Groupement des assureurs automobiles (GAA) said Monday the…
Large reinsurer to stop writing oil sands business: Memo
October 15, 2019 by Greg MeckbachConcerns about climate change from human-produced greenhouse gas emissions may have prompted the world’s largest property and casualty reinsurer to stop writing some business for oil sands sites, according to an unverified document obtained by Canadian Underwriter. Facultative reinsurance covers…
Applied Systems acquires Policy Works
October 15, 2019 by Jason ContantApplied Systems announced Tuesday it has acquired Policy Works, a major platform for commercial lines business in Canada. The acquisition will extend Applied’s position within the commercial lines market segment, driving greater connectivity and automation for commercial lines brokerages and…
Unprecedented snowstorm leads to state of emergency in Manitoba
October 15, 2019 by Steve Lambert - THE CANADIAN PRESSWINNIPEG – Nearly 21,000 Manitoba homes and businesses remained without power early Monday in the wake of a snowstorm that the province’s Crown energy utility said had left an unprecedented amount of damage to transmission lines, towers and more, and…
How much does auto insurer owe an injured claimant who cannot go to school?
October 11, 2019 by Greg MeckbachSaskatchewan’s government-run auto insurer has won a victory of sorts before the Supreme Court of Canada arising from a disputed accident benefits claim, although the carrier lost its key argument. Canada’s top court announced Thursday it will not hear an…
Canadians confused about flood risk, study finds
October 11, 2019 by Adam MalikCanadians are seemingly drowning in confusion when it comes to flood risk, according to a recent survey of 1,700 Canadians. The survey on flood risk, commissioned by RSA Canada and World Wildlife Fund Canada (WWF-Canada), produced some seemingly self-contradictory findings.…
$6,000 fine over how brokerage held itself out to the public
October 11, 2019 by David GambrillA brokerage in Manitoba has been fined $6,000 after a complaint to the regulator that representatives of the brokerage’s sub-agency were holding themselves out to the public under a trade name for which they were not licensed to do business.…