Segment
Brokers
How automation’s shifting on-site claims work to bigger losses
February 23, 2023 Philip PoradoCOVID-19 accelerated development of process efficiencies for insurance adjusters. Pre-pandemic, data-gathering and communications systems began shifting many claims to desk teams, creating efficiencies for adjusters by reserving site visits for complex cases. “What COVID did was expedite some of that…
Sales Column: Clients ignoring your emails? Try texting
February 22, 2023 Adam MitchellPeople love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always…
What’s on Dec? | Episode 4 | Broker-carrier connectivity
February 21, 2023 by Canadian UnderwriterCommercial lines differ from personal lines when it comes to broker-carrier connectivity. Northbridge Insurance and insurance software company Acturis will take you behind the scenes of the development of an API data exchange solution. They’ll look at typical interactions in…
Pace of P&C industry cited as a reason for more broker E&O claims
February 17, 2023 by David GambrillThe frenetic pace required for brokers to meet the Canadian P&C insurance industry’s premium growth targets — not to mention keeping current with the kaleidoscopic transformation of products — is putting brokers in harm’s way, broker E&O experts told Live…
Why one cyber expert believes cyber insurance is in a good place right now
February 16, 2023 by Jason ContantThe cyber insurance market has never been in a more stable and positive position going into 2023, largely because of the learning experiences over the last two to three years, one cyber expert told Canadian Underwriter in an interview Wednesday.…
Will volatile stock markets spark claims against asset managers?
February 15, 2023 Philip PoradoSo far, wobbly stock markets aren’t sparking higher claims activity for asset managers’ liability coverages. But the kinds of investor claims that lead to complaints against money managers often lag the equity markets’ overall performance, noted Reid Irwin, practice leader…
Westland acquires brokerages in two provinces
February 15, 2023 by Jason ContantWestland Insurance continues its expansion across Canada with acquisition of Quebec-based Niche Assurance Inc. and Saskatchewan-based Heritage Insurance, effective Feb. 1. The latest acquisitions come a month after industry veteran Doug Morrow joined Westland as its new vice president of…
How one company is tackling brokers’ pain point of repetitive data entry
February 13, 2023 by Jason ContantOne Canadian company is taking a unique approach to deal with repetitive data entry, a major pain point for brokers. Vancouver-based Quandri uses software bots to automate certain portions of a brokerage’s operations, such as the renewal review process. Quandri…
How an insurer’s report on a condo ceiling leak won the day
February 8, 2023 Philip PoradoRepairs outlined in an insurance company’s assessment of damages at a British Columbia condo must be made by the strata, said a decision from the province’s Civil Resolution Tribunal (CRT). Applicants in Rolfe v. The Owners, Strata Plan EPS3064 claimed the…
Did negligence cause mice ingress and water leaks?
February 6, 2023 Philip PoradoA British Columbia condo owner failed to show a strata corporation breached its duty to repair and maintain the irrigation system or the building’s waterproofing membrane. In Yoon v. The Owners, Strata Plan, the applicant, Bori Yoon, claimed the strata negligently…
Will cyber bonds help reinsurers transfer risk?
February 3, 2023 Philip PoradoCan reinsurers transfer cyber risk to the capital markets? We may be close to finding out. Recently, two announcements about the issuing of insurance-linked securities (ILS) show there’s a potential to create a broader reinsurance source for cyber risk, said…
What prospective talent looks for when choosing a P&C employer
February 3, 2023 by Jason ContantFlexible work arrangements remain a top consideration for aspiring Canadian P&C insurance professionals, according to a new poll from a Vancouver-based multi-disciplinary recruitment firm. The poll from Impact Recruitment found that, aside from monetary compensation, one in four professionals consider…