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Honda recalls 83,977 vehicles in Canada to replace Takata air bag inflators

March 12, 2019 by THE CANADIAN PRESS

TORONTO – Honda is recalling about 1.2 million vehicles in North and Central America because their Takata air bag inflators can explode and send shrapnel into the passenger compartment. The recall affects 83,977 vehicles in Canada and includes many Honda…

News Insurance

Institute serves up a new look to insurance education

March 12, 2019 by David Gambrill

Perhaps you have noticed something different lately about some of the course materials for your Chartered Insurance Professional (CIP) designation? If you open up your new textbook for the CIP course, Underwriting Essentials, for example, you will notice something new…

News Insurance

How RSA plans to shore up its personal lines results in Canada

March 11, 2019 by David Gambrill

Expect RSA in Canada to take remedial underwriting actions in its personal lines portfolio – including auto rate increases of between 3% and 16%, and potentially selected broker cancellations – in order to shore up results after a tough year…

News Insurance

Zurich Canada names new head of property

March 11, 2019 by David Gambrill

Yvonne Steiner has been named head of property for Zurich Canada. She will be a member of the Zurich Canada executive team and report to Zurich Canada CEO Saad Mered, effective Apr. 15. “We are very excited to have a…

News InsuranceMGAs

What hard market in liquor liability means for clients

March 11, 2019 by Greg Meckbach

Clients planning St. Patrick’s Day celebrations may find themselves short on luck when it comes to insurance coverage. It’s becoming more difficult for clients to get insurance for liquor-related losses with the terms they need, one managing general agent observes.…

News InsuranceTechnology

Insurtech seeks to bring the ‘Uber-Netflix-Spotify-Amazon’ experience to commercial clients

March 11, 2019 by Greg Meckbach

An insurtech with offices in Ontario is looking for commercial and personal lines carriers who want to sell insurance the way Spotify sells music. “We are talking to several Canadian insurers who have an interest in launching new products” Philippe…

News InsuranceRisk

What surprises this broker about sports insurance

March 11, 2019 by Dan Ralph THE CANADIAN PRESS

TORONTO – He has played Canadian university football and coached the game, but Todd Smith is waiting before he lets his two sons get on the field. “I’m not in a rush to put my kids into football just knowing…

News BrokersInsurance

How to sell commercial coverage to small businesses

March 8, 2019 by Jason Contant

Brokers looking to sell commercial coverage to small businesses need to keep it simple, fast and client-specific, industry professionals told Canadian Underwriter Thursday. Sometimes when buzzwords like artificial intelligence, blockchain and chatbots dominate the conversation, the cart comes before the…

News Earnings / Ratings

All bets are off on timing of interest rate increase

March 8, 2019 by Andy Blatchford - THE CANADIAN PRESS

OTTAWA  – A weak data report “surprised” the Bank of Canada ahead of its decision to cast doubts about future interest-rate hikes and to warn Canadians the ongoing slump could prove to be unexpectedly stubborn, says one of the bank’s…

News CatastrophesReinsuranceRisk

Wildfire catastrophe models need improvement: Reinsurer

March 8, 2019 by Greg Meckbach

The world’s second-largest reinsurer is looking for partners in the artificial intelligence space to help the reinsurer get a better idea of how much insured damage future wildfires could cause. Swiss Re is working with the Massachusetts Institute of technology…

News InsuranceTechnology

Steps to scale innovation at your company

March 8, 2019 by Jason Contant

Scaling innovation across a business can be a challenge, as most organizations start innovation in a “pocket, team or lab,” a speaker said late last month at the Insurance-Canada.ca Technology Conference. Simon Chan, head of corporate innovation thought leadership at…

News InsuranceMergers and Aqcuisitions

Brokerlink acquires family-owned brokerage in Alberta

March 8, 2019 by David Gambrill

BrokerLink has welcomed into its tent a 40-year-old family brokerage located in the Peace River area of northern Alberta. Nicolet Insurance Ltd., a full-service operation offering auto, home, business and travel insurance, has joined Brokerlink, one of Canada’s largest property…