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How parametric insurance is being used for flight delays

November 7, 2019 by Jason Contant

Canadian travel insurance provider TuGo has launched a complimentary flight delay service for travellers. The parametric insurance solution MyFlyt comes through a partnership with Ireland-based Blink, the travel insurtech that developed the product. If a flight is delayed by two…

News Insurance

Intact now targeting this “under-served” market

November 7, 2019 by Greg Meckbach

If your clients’ homes would cost more than $3 million to re-construct, they are probably in a new target market for Intact. “We chose historically not to play in that space because we felt we could not provide a second-to-none…

News Employment

What brokers can learn from an esthetician’s non-compete clause

November 7, 2019 by Jason Contant

If you’re looking to craft a non-compete clause at your brokerage, don’t compare your employment agreement to other contracts in the industry. That’s one piece of advice that could be taken from a recent decision from British Columbia’s Civil Resolution…

News Insurance

Intact CEO says odds of upsetting current hard market momentum are “fairly small”

November 7, 2019 by Greg Meckbach

With the Canadian industry experiencing its lowest return on equity in 17 years, Intact’s senior leadership is not foreseeing a soft market in the short term. “To find similar [hard market] conditions, you have to go back to 2002-03,” Charles…

News Commercial LinesTechnology

Computer woes continue for government after cyber attack

November 7, 2019 by The Canadian Press

IQALUIT, Nunavut – The government of Nunavut is still struggling with computer systems paralyzed by a cyber attack last weekend. “Network recovery is ongoing as the (territory) works to uncover information, prepare recovery plans and work on department priorities,” said…

News InsuranceTechnology

Next round of reusable data services aims to solve this problem

November 6, 2019 by Greg Meckbach

When a corporate client’s policy is up for renewal, it can take a lot of time and effort to get a claims run request, a Toronto commercial broker suggests. The commercial claims run is a report, on a client, showing…

News Commercial LinesInsuranceLegal

Why this solar energy developer was denied coverage under a CGL policy

November 6, 2019 by David Gambrill

Economical Insurance recently won a case against a developer of solar energy projects that turned on the wording of an additional insured endorsement in a Commercial General Liability (CGL) policy. Economical ultimately convinced the Ontario Superior Court that insurance coverage…

News Commercial LinesTechnology

Why your commercial book will start getting a lot more rejections

November 6, 2019 by Greg Meckbach

Insurers who replace underwriters with computers are rejecting a lot of small business applications for reasons that are unclear to the brokers, a commercial broker suggests. “I think that insurers will start to realize that the black boxes are actually…

News BrokersInsuranceMergers and AqcuisitionsTechnology

The pros and cons of consolidation in the tech vendor space

November 6, 2019 by Jason Contant

When there is consolidation in the industry, concerns about the erosion of choice is common. And the tech vendor space is no different. On Oct. 15, Applied Systems announced the acquisition of Policy Works, a major platform for commercial lines…

News CatastrophesInsuranceRestoration

Evacuation order lifted nearly two months after crane collapse

November 6, 2019 by The Canadian Press

HALIFAX – The last three businesses evacuated when a crane collapsed in downtown Halifax are being allowed to return to their locations, almost two months after a storm toppled it. The final stage of the crane and debris removal from…

News InsuranceProfessional Development

How long before your new CEO should be planning an exit strategy?

November 5, 2019 by Jason Contant

Your new CEO is just six months into the job. It’s time to start thinking about their exit strategy. Yes, that’s right. Good CEOs start planning for their succession as soon as their onboarding is complete. They should not wait…

News Commercial LinesInsurance

How mining companies can reduce risk by being good neighbours

November 5, 2019 by Greg Meckbach

Is your client liked by its neighbours? While that may not be your first question as a commercial broker, insurance professionals were told Tuesday the question is nonetheless important if the client is in the resources sector. “You need some…