Segment
Brokers
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…
Do younger Canadians planning vacations value travel insurance?
February 2, 2023 Canadian Underwriter StaffMaking up for the inability to travel during the pandemic is top of mind for 70% of Canadian millennials, who told an Allianz Global Assistance survey conducted by Ipsos they’ll be taking a vacation this year. Of those saying they’ll…
Insurers have a role in Canadian natural gas exports
February 1, 2023 Philip PoradoLiquified natural gas (LNG) and infrastructure connectivity across Europe will be critical to ensuring a long-term energy supply for the continent, noted a Fitch Ratings report. The ratings agency said strong supplies of LNG, along with a relatively mild winter,…
EY clarifies report that rekindled public-private auto insurance debate
February 1, 2023 by Jason ContantEY Canada has issued a clarification to a report it conducted that B.C.’s public auto insurer says show the province’s auto insurance rates are among the lowest in Canada. Commissioned by the Insurance Corporation of British Columbia (ICBC), EY conducted…
Carol Jardine discusses retirement, succession planning and knowledge transfer
January 31, 2023 by Jason ContantKnowledge transfer is top of mind for P&C insurance industry veteran Carol Jardine, as she prepares to retire as Wawanesa Mutual Insurance Company’s president of Canadian P&C operations at the end of February. “I don’t think I’ve given away all…
What’s next for Wawanesa after senior executive shuffle?
January 30, 2023 by Jason ContantAs Wawanesa Mutual Insurance Company changes its leadership structure with the appointment of three industry professionals to more senior leadership roles, industry veteran Carol Jardine — currently the insurer’s president of Canadian P&C operations — is also set to retire…