Canadian Underwriter

News


News Insurance

Too many meetings? Time to schedule “Untouchable Days”

July 8, 2019 by David Gambrill

Corporate sales culture is dominated by “urgent” meetings, phone calls and email messages; so many of them, in fact, that it’s hard to get any work done. Your employers require you to produce outputs, be they financial/claims reports, summaries, policy…

News Insurance

How buyouts of flood-prone properties are going in this community

July 8, 2019 by Amy Smart - THE CANADIAN PRESS

More than one year after rescuers swam from home to home in a low-income neighbourhood devastated by flooding in Grand Forks, B.C., some residents say they were rattled to learn the property buyouts they’ve been waiting for will be based…

News Insurance

Paid Why your clients need personal umbrella coverage

July 8, 2019 by Graham Haigh, VP, Broker Distribution, Wawanesa Insurance

  Convincing someone that they could have more coverage than they do now – often for less money – should be a slam dunk. Right? That’s exactly what personal umbrella policies offer. So why aren’t they more popular? Let’s break…

News Insurance

How M&A deals have re-arranged the pecking order of brokerages

July 5, 2019 by Greg Meckbach

Hub International Ltd. has reached fifth place worldwide on A.M. Best Company Inc.‘s ranking of brokerages. Hub was formed in 1998 through the merger of 11 Canadian brokerages and has since moved its head office to Chicago. It acquired 13…

News BrokersInsuranceMarkets / Coverages

Fishing for marine capacity after Lloyd’s partial withdrawal

July 5, 2019 by Jason Contant

Marine insurance, one of the “hot lines” in Canadian Underwriter’s forthcoming 2019 Stats Guide, is already falling on some leaner times. “Yes, absolutely,” replied Kent Rowe, vice president of Wedgwood Insurance Limited in St. John’s, Nfld., when asked if he…

News InsuranceReinsurance

Why Swiss Re says insurance profitability will remain ‘under pressure’

July 5, 2019 by Greg Meckbach

Expect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”…

News BrokersInsurance

Sports heroes: one way to score big with your marketing

July 5, 2019 by Adam Malik

When it comes to marketing, brokerages and carriers like pairing up with pro sports teams and athletes. For Waterloo, Ont.’s Aha Insurance, which launched in 2017, partnering with a professional sports team seemed like a perfect way to create brand…

News Insurance

Man dies after car wash accident

July 5, 2019 by THE CANADIAN PRESS

CALGARY – The owner of a Calgary gas station is dead after emergency authorities say it appears he was accidentally run over by a vehicle in the station’s car wash. The 64-year-old man was pronounced dead at a Centex outlet…

News Insurance

How A.I. is changing the landscape of Canadian pre-fill data

July 4, 2019 by Jason Contant

Artificial intelligence and machine learning are changing the landscape for pre-fill data in Canada — literally. “Through artificial intelligence and deep learning techniques… we’re able to train computers to recognize that this is a two-storey structure, not a one-storey structure…

News Brokers

Is love in the air? Why it can hurt your brokerage

July 4, 2019 by Adam Malik

Brokerages need to have a formal workplace relationship policy in place. Otherwise, they’re at risk of things getting messy. Workplace issues like bullying and harassment are challenging enough; the problems are only compounded when you add a relationship to the…

News InsuranceLegal

Could trial lawyers take a run at a 40-year-old cap on pain and suffering awards?

July 4, 2019 by Greg Meckbach

A 40-year-old, Canada-wide cap on pain and suffering awards could be out of date, a personal injury lawyer suggests. The Supreme Court of Canada imposed a $100,000 cap on awards for non-pecuniary damages in 1978, as the personal injury law…

News BrokersInsuranceMergers and Aqcuisitions

Hub scoops up two Alberta firms in latest acquisition

July 4, 2019 by Jason Contant

Hub International continued its M&A spree this week with the acquisition of two Edmonton-based firms – one a brokerage and the other a benefit and retirement consulting firm. The Chicago-based global brokerage Tuesday acquired BenefitLink Resource Group Edmonton Holdings Inc.…