Segment
Brokers
Do’s and don’ts for dealing with global warming claims
September 21, 2022 by Alyssa DiSabatinoInsurers predict the frequency and sustainability of climate change-related litigation could soon become a significant issue. But there are ways for risk managers to pursue coverage effectively when their businesses are faced with climate-related claims, such as quantifying risk, working…
CapriCMW and Rogers Insurance announce merger
September 20, 2022 by Jason ContantBritish Columbia-based CapriCMW and Alberta-based Rogers Insurance have announced that they have merged and will be known as Acera Insurance. The merger will create a company with 1,000 employees located in more than 50 offices across Alberta, B.C., Ontario and…
Here’s how much western Canada’s summer storms cost the industry
September 20, 2022 by Alyssa DiSabatinoSix summer storms across western Canada in July and August will cost the industry approximately $900 million in insured damages — meaning the industry is almost halfway to last year’s total insured damages of $2 billion from these events alone.…
Which generations most want a broker’s advice?
September 20, 2022 Canadian Underwriter StaffYounger Canadians are more receptive to getting insurance advice from brokers, said a new survey commissioned by Chubb that examined attitudes across five generations. Specifically, the study found 46% of respondents in generation Z, which it defined as those born…
Solutions for supply chain disruptions that will stop clients from “panic buying”
September 19, 2022 by Alyssa DiSabatinoCompanies panic-buying supplies is one factor adding further stress to the supply chain, says one expert in a panel discussion at RIMS Canada Conference in Halifax. But solutions—like contingent business interruption (CBI), shipping via multiple methods and shrinking the supply…
Brokers can help clients avoid purchasing stolen vehicles
September 19, 2022 Philip PoradoOne of the best things a broker can do for a client planning to buy a used car is to provide tips for making sure that vehicle isn’t stolen, said Bryan Gast, vice president of investigative services with Équité Association.…
Industry hasn’t done a great job of service: broker execs
September 16, 2022 by Alyssa DiSabatinoThe Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax. What’s the good news? The industry can meet and maintain service levels through collaborative…
How Canadian P&C brokers feel about their hours and pay
September 16, 2022 by David GambrillA vast majority of Canadian P&C insurance brokers don’t appear to be “quiet quitting,” a recent Canadian Underwriter online poll suggests. When brokers were asked if they adjust their weekly work hours so they align better with the compensation they…
P&C industry should consider “under-hiring” to fill talent gap: RIMS panel
September 15, 2022 by Alyssa DiSabatinoP&C insurance is still struggling to backfill employees, as executives retire and the Great Resignation directs workers to other industries, industry experts told delegates attending a RIMS Canada Conference panel in Halifax. Possible solutions include turning to students (via apprenticeships),…
How inflation can become a ‘silver lining’ for the insurance industry
September 15, 2022 Philip PoradoInterest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on…
Key components of a successful talent-acquisition strategy
September 15, 2022 by Jason ContantCanadian P&C companies should use data analytics for their talent acquisition (TA) strategies just as they do in other parts of the business, a speaker told Wednesday’s Reuters Events’ Future of Insurance Canada 2022 conference. “The traditional recruitment model is……
Why rig-handling analytics are now key for brokers insuring trucking firms
September 14, 2022 Jason ContantSupply chain challenges, shrinking capacity, electrification of vehicles and better data management are among the pressures facing transportation clients, said Canada’s largest insurer. “You can’t be a specialist in transportation in the insurance field if you don’t really understand the…