News
Is running your brokerage affecting your mental health?
June 28, 2019 by Adam MalikThe stress of being an entrepreneur is taking its toll on the mental health of small business owners. Whether it’s the anxiety related to cash flow issues, finding talent, or figuring how to make it all work at home and…
Labour market tightens in finance, insurance
June 28, 2019 by Greg MeckbachWages and job openings in the insurance and financial sectors have dropped, Statistics Canada reported recently. The vacancy rate in insurance and finance stood at 2.8% during the first quarter of 2019, down from 3.1% in 2018 Q1, StatsCan said…
These behaviours raise your client’s cyber risk
June 28, 2019 by Greg MeckbachDo your clients know how often their workers click on links they receive in emails that should have been flagged as suspicious? “I wouldn’t find it unreasonable for an insurer to ask questions about phishing click-through rates,” Srinath Sampath, senior…
Why record Great Lakes levels could cause billions in business losses
June 28, 2019 by Christopher Reynolds - THE CANADIAN PRESSRising water levels are causing delays in the St. Lawrence Seaway that could cost the economy more than $1 billion, shippers and port operators say. A new study from the Chamber of Marine Commerce warns that opening the floodgates further…
Why Canadian caps on pain and suffering awards could face court challenge
June 27, 2019 by Greg MeckbachLegislated limits on pain and suffering awards, which are meant to manage liability insurance costs, could conceivably be challenged in court, a Canadian personal injury lawyer suggests. South of the border, the Kansas Supreme Court recently held that a state…
Canada’s road to pre-filled home insurance data
June 27, 2019 by Jason ContantWhere is Canada now on its journey towards using pre-fill data for Canadian home insurance application forms? Step 1 in the process is isolating which questions on the form use data that can be pre-filled. A standard home insurance form…
Aviva’s new road safety campaign hits a bump in Toronto
June 27, 2019 by Adam MalikAviva Canada kicked off a new road safety initiative, although things got off to a rocky start in Toronto. The Take Back Our Roads campaign launched this week as a way to improve road safety on streets across Canada, said…
Can Canadian P&C companies be “too big to fail”?
June 27, 2019 by David GambrillIf a major disaster such as an earthquake hits Canada, are some Canadian insurance companies simply “too big to fail”? After the financial crisis of 2007-08, the systemic risk of multiple companies going bankrupt following an extreme catastrophe event is…
New money aims to help municipalities boost flood resilience
June 27, 2019 by THE CANADIAN PRESSBRACEBRIDGE, Ont. – Ontario is launching a $1-million pilot project to help communities protect against effects of extreme weather after several in central and eastern parts of the province saw flooding this spring. The government has already activated a disaster…
What’s new in education for MGAs
June 26, 2019 by David GambrillThe Insurance Institute of Canada is preparing a three-course program specifically tailored to the needs of Managing General Agents (MGAs) in Canada. The hope is to launch the first phase of the MGA program in early 2020. “The program would…
Priority dispute over accident benefits hinges on endorsement
June 26, 2019 by Jason ContantContinental Casualty Company (CNA Canada) must pay both mandatory and optional accident benefits to an injured pedestrian after a judge set aside the decision of an arbitrator in a priority dispute. Arbitrator Kenneth Bialkowski concluded in an April 2018 decision…
Where insurance fits into bicycle accidents
June 26, 2019 by Greg MeckbachIf you have clients who are riding their bikes this summer, how does liability insurance work if they get into an accident? “Specialty cyclist insurance policies do exist, but my understanding is they are not very common,” said Ari Krajden,…