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Protest at an oil and gas site News Insurance

Why portfolio simplification and shareholder activism matter

June 21, 2022 by Jason Contant

To successfully lead a company through an era of constant change, a CEO should consider simplifying the company’s portfolio and prepare for shareholder activism, a Harvard Business Review blog says. Inflation, geopolitics, supply chain issues, labour costs, divisiveness, unsettled equity…

Woman stressed out by increasing oil prices News ClaimsInsuranceRisk

Will the oil shock slow auto insurers’ post-pandemic loss ratios?

June 21, 2022 by David Gambrill

Insurers have been sounding the alarm about their auto claims ratios returning to normal post-pandemic, but expect the oil shock to temper that expectation somewhat, P&C industry execs predict. The war in Ukraine and consequent embargo on Russian oil have…

Stack of Canadian $100 bills. News BrokersEmploymentInsuranceProfessional Development

Commissions may not compensate brokers for rising workloads

June 21, 2022 by David Gambrill

Commission structure doesn’t always compensate for the time brokers must spend preparing for prospective business, only to have a client reject the proposal, said a broker responding to Canadian Underwriter’s latest National Broker Survey. “If I go to a dentist,…

Close up of unrecognizable businessmen shaking hands on a meeting in the office. News BrokersInsuranceMergers and Aqcuisitions

Three key issues facing the broker channel

June 21, 2022 by Alyssa DiSabatino

Expect the quickening pace of mergers and acquisitions (M&A) activity to present a big challenge — or advantage — to brokers, Joseph Carnevale, president at Insurance Brokers Association of Ontario, said at the Young Brokers Conference.   The Insurance Broker…

A landslide destroyed a house and forced evacuations in Saguenay, Que. News Insurance

Quebec extends state of emergency in Saguenay because of landslide threat

June 21, 2022 by The Canadian Press

MONTREAL – Quebec is extending a state of emergency in a city north of Quebec City where a neighbourhood is threatened by landslides. Public Security Minister Genevieve Guilbault tweeted late Monday afternoon that she signed a decree allowing Saguenay to…

Stressed out person working from home. News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsProfessional Development

Yes, COVID-19 really did boost broker workloads

June 20, 2022 by David Gambrill

While the pandemic created extra work for brokers, it also highlighted the value of the broker proposition, which includes, choice, advice and advocacy, according to Canadian Underwriter‘s 2022 National Broker Survey, which asked more than 250 brokers nationwide about challenges…

Graphic of a long winding line of people. News BrokersClaimsInsurance

How the industry is addressing service level challenges

June 20, 2022 by Alyssa DiSabatino

Consumer behaviour, supply chain issues and staffing shortages are among the reasons why service levels have been challenged in recent months, but revamping outdated technology and insourcing claims may help ease the backlog, say industry executives.  Processing claims in-house helps…

Economic crisis and related business therms word cloud written with chalk on black board. There is a big arrow chart moving down. A businessman seen from the back is looking at the blackboard News Commercial LinesInsuranceMarkets / CoveragesRisk

P&C industry fastening its seatbelt for risk of global recession

June 20, 2022 by David Gambrill

Fresh from emerging from a global pandemic, Canada’s P&C insurance industry is turning its mind toward the next item on its global risks list – the threat of an economic recession. Global economic recession topped the list of potential 2023…

Hacker attack and data breach News Insurance

Quebec court approves $200.9M settlement against Desjardins over data breach

June 20, 2022 by The Canadian Press

MONTREAL – The Superior Court of Quebec has approved a nearly $200.9-million settlement of a class-action lawsuit against Desjardins over a data breach – the largest to date in the Canadian financial services sector. Siskinds Desmeules and Kugler Kandestin say…

News Insurance

The future of cyber-security: MFA and beyond

June 17, 2022 by Jason Contant

Here’s some cyber security advice for your clients: time to install multi-factor authentication (MFA). In the future, that advice may morph to: Please send us a scan of all your tech vulnerabilities, so we can see what cybercriminals see. As…

Hipster on a bicycle representing the Millennial generation News BrokersInsuranceProducts

What Millennials and Gen Z want when they buy insurance

June 17, 2022 by Alyssa DiSabatino

Younger Canadians are accustomed to getting immediate results from their actions. Sending an e-transfer, text or e-mail means things happen in the blink of an eye, said Katy Fowler, personal lines hero at InsuranceHero. “We expect our internet to be…

Picturesque family home with red facade combined with wooden details. Hard roof top pergola covering the patio, protecting it from snow. This modern style home gives you a cozy feel, because of wood and warm colors. News BrokersClaimsInsuranceLegal

Sewer back-up or overland flood? Is a sun deck “within” a dwelling?

June 17, 2022 by David Gambrill

A sewer backup insurance policy only applies to a flood originating from “within” a dwelling and not from a drain overflow on a sun deck partially exposed to the outdoors, B.C.’s Supreme Court has ruled. In Gill v Wawanesa Mutual…