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Brokers
What’s the better parametric insurance trigger for Canadian hurricanes?
December 12, 2022 by Alyssa DiSabatinoHurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar. Barometric pressure may be a better parametric trigger…
How MGAs are dealing with underwriter shortages
December 12, 2022 by Jason ContantCanadian P&C managing general agencies (MGAs) are dealing with a lack of underwriters due to increased demand for products and services combined with traditional staff turnover, an industry executive told Canadian Underwriter. “MGAs are, from what we see, the fastest…
How can you improve cybersecurity? Hire more women
December 9, 2022 Camelia Radu and Nadia SmailiBy Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM). This article was originally published on The Conversation, an independent and nonprofit source…
How insurance coverage will change as Canadian hurricane risk expands
December 9, 2022 by Alyssa DiSabatinoParametric insurance is a relatively new product in Canada, and thus is not a big buy for commercial clients, but as climate change is expected to cause more hurricane events in Canada, expect this solution to get more popular north…
The real reasons behind Canada’s softer D&O market
December 9, 2022 Philip Porado“Expanded insurer appetite and competition in the primary space,” as well as new capacity in excess layers, helps explain a softening of Directors and Officers (D&O) insurance pricing and limits expansions in Canada, says a recent quarterly market insights report…
New president and CEO at Jones Deslauriers
December 8, 2022 by Alyssa DiSabatinoScott Irwin is now president and CEO of Jones Deslauriers, a Navacord broker partner. He succeeds Eric Osbourne, Jones Deslauriers’ president and CEO of 15 years, who has taken on a new role at Navacord. Jones DesLauriers is a…
Westland expands into two new provinces
December 7, 2022 by Jason ContantWestland Insurance has entered into Prince Edward Island and New Brunswick for the first time, making it one of the largest insurance brokers in Atlantic Canada. The western Canadian-based brokerage announced Tuesday the acquisition of Hyndman Insurance Group, Sears Insurance,…
Why this insurer saw double the amount of auto claims. Could it happen again?
December 7, 2022 by Alyssa DiSabatinoA major snowfall in southern British Columbia last week led to a 94% increase in claims compared to the week prior, Insurance Corporation of British Columbia (ICBC) reported. And with more snow being forecast today, drivers should prepare for more…
How inflation, and possible recession, may create D&O headaches
December 6, 2022 Philip PoradoFaced with wide-ranging global macroeconomic risks that include supply chain disruptions and labor shortages, stock issuers need to be careful about any disclosures and public statements. This is especially true for publicly traded companies that have directors and officers (D&O)…
How insurers narrowly avoided ‘catastrophic’ business interruption claims
December 6, 2022 by Alyssa DiSabatinoBusiness interruption (BI) and related losses from the coronavirus pandemic could have been ‘catastrophic’ for insurers had policy wordings not been precise enough to prevent massive payouts following court challenges, credit rating agency DBRS Morningstar says in a new commentary. …
What do January reinsurance renewals have in store for property insurers?
December 5, 2022 by Alyssa DiSabatinoWith January’s reinsurance renewal period quickly approaching, the impact of major cat events on property insurers remains to be seen, said a new report from Navacord brokerage Lloyd Sadd. Catastrophic losses are making leading property insurers selective about the amount…
Do digitally efficient brokerages make better acquisition targets?
December 2, 2022 Alyssa DiSabatinoBrokerage owners shouldn’t just invest in digitization for its own sake, says one financial advisor. They should do it to make a purchase and integration easier for consolidators. Consolidators don’t necessarily expect small brokerages to digitize before acquisition, said Alex…