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Why brokers need to talk about ransomware

November 28, 2018 by Jason Contant

Ransomware attacks are increasing, and as a result, there will likely be a shift in brokers and clients alike starting to recognize the value of the business interruption component of a cyber insurance policy, a specialist insurer said Monday. “Cybercrime

News AssociationsBrokersTechnology

What carriers want from this insurtech brokerage

November 27, 2018 by Greg Meckbach

Some insurers are looking for brokers who can help them use big data to customize products for small businesses, an insurtech founder suggests. “Big data is a loose term,” Mark Morissette, founder and CEO of Foxquilt said Tuesday in an

News InsuranceTechnology

How future technology will help brokers, not replace them

November 27, 2018 by David Gambrill

In a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies

News InsuranceTechnology

Why brokers shouldn’t focus on breach notification law when selling cyber

November 26, 2018 by Jason Contant

The nation-wide mandatory data breach law that came into effect Nov. 1 is “a good way and a reminder to start the conversation with their clients,” but brokers should ultimately focus selling efforts on the crime and business interruption aspects

News AssociationsBrokersInsuranceTechnology

Minimum data set for commercial lines finalized

November 24, 2018 by Jason Contant

The Centre for Study of Insurance Operations (CSIO) has finalized the minimum data set for CSIO XML standards in commercial lines, paving the way for implementation of commercial data standards in the broker channel. The minimum data set comprises of

News BrokersEmploymentProfessional Development

The science behind motivating your brokerage’s employees

November 22, 2018 by Jason Contant

Looking to truly motivate the employees at your brokerage? Don’t focus on financial incentives; try giving them the opportunity to be really good at their jobs, have a say in their work and do work that is meaningful, advises Bruce

News Brokers

Quebec broker regulator gets new CEO

November 21, 2018 by Greg Meckbach

The regulator of Quebec’s property and casualty insurance brokers will have a new chief executive officer next week. Anne-Marie Poitras is CEO of Chambre de l’assurance de dommages (ChAD) effective Nov. 29, ChAD announced Wednesday. A former broker and claims adjuster,

News Insurance

Paid IFRS 17: Filling the Gaps in Data & Technology Systems

November 21, 2018 BDO

IFRS 17 is an accounting standard that will result in a complete overhaul of an insurer’s financial statements, though finance alone cannot work through this complex change in isolation. Considering the significance of the impact across the organization, IFRS 17

News BrokersInsurance

Why these two brokerages rallied around autism

November 20, 2018 by Jason Contant

Two brokerages in Ontario have combined forces to help fund an online platform that provides support and resources to the autism community. Ancaster, Ont.-based Dalton Timmis and Toronto-based RRJ Insurance won the Aviva Community Fund’s (ACF) top ranked broker-supported idea

News BrokersLegal

How this broker’s exclusive insurer deal went pear-shaped

November 18, 2018 by Greg Meckbach

A British Columbia broker that got acquired by a unit of The Co-operators Group Ltd. is in breach of contract with RSA Canada-owned Canadian Northern Shield, an Ontario court has ruled. In 2008, Vancity Insurance Services Ltd. was a brokerage

News Technology

What to consider when tempted by a ‘shiny’ tech tool

November 13, 2018 by Greg Meckbach

Before deciding whether to buy the latest and greatest technologies, a broker need to understand what problem that technology is actually going to solve, speakers said during a recent technology conference. “A lot of people are trying to sprinkle insurtech

News BrokersInsuranceMarkets / Coverages

Large commercial brokerage reports ‘stealth’ firming in casualty lines

November 13, 2018 by Jason Contant

A recent report from commercial brokerage Willis Towers Watson has confirmed what Canada’s largest insurer is saying: the commercial insurance market is showing signs of firming as casualty losses mount. “The seemingly ‘stealth’ firming within the casualty market comes as