Segment
Consumers
Does an immuno-compromised adjuster have to return to field work?
November 23, 2022 The CIP Society, Insurance Institute of CanadaFor almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a…
Why being a good broker alone won’t cut it for ownership
November 23, 2022 by Alyssa DiSabatinoWant to own your own brokerage? Get familiar with the business side of things first, said a P&C financial advisor in a Canadian Underwriter LinkedIn Live panel discussion. “When I think about what makes a successful brokerage owner, most brokerage…
How hurricane losses will impact pricing and capacity
November 21, 2022 Philip PoradoWatch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”…
Cyber insurers’ appetites are shifting. Here’s what to expect…
November 21, 2022 by Alyssa DiSabatinoCanada’s ongoing hard market in cyber has seen most insurers capping their coverage at somewhere between $3-million and $5-million, experts observed in a Gallagher Talks session. “We’re seeing exclusions for known [software] vulnerabilities [and] capacity restrictions as well,” said…
Organizations more willing to pay ransom for this type of data breach
November 18, 2022 by Alyssa DiSabatinoRansomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation. Organizations are less likely to pay a ransom when their…
Will inflation stop Canadians from buying winter tires?
November 17, 2022 by Alyssa DiSabatinoEven when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC). However, brokers will be interested to know…
What selling a brokerage and ‘The Bachelor’ have in common
November 17, 2022 Philip PoradoDating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A…
How clients can get better rates during the hard market
November 16, 2022 by Alyssa DiSabatinoInsurers’ low-risk policyholders may still experience premium increases amid the hard market, but clients can take mitigating steps, said Ilan Serman, regional president of Ontario at Gallagher during yesterday’s Gallagher Talks session, Anatomy of the Canadian Insurance Market. “[I had]…
Why the hard market may be here to stay
November 15, 2022 by Alyssa DiSabatinoDespite 17 quarters of rate increases, insurers return on equity (ROE) is still below target, and these hard market conditions may not be going anywhere for awhile, a Gallagher executive said during an industry webinar. Broker’s clients may be able…
5 client objections to buying cyber, and how to overcome them
November 14, 2022 Philip PoradoWhen it comes to risk, your clients can be full of excuses. That tendency to deflect is particularly acute when discussions turn to cyber coverage. “My favorite one was ‘We outsource everything,’” which implies someone else was taking on all…
Delays for new hybrid, electric cars reach years – not months – amid supply crunch
November 14, 2022 Brett Bundale - THE CANADIAN PRESSWhen Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time…
New claims-management service launches certificate program for insurers
November 11, 2022 by Alyssa DiSabatinoA new claims management program, which enables insurance companies to divert waste from landfills by recycling flooring and drywall during the claims and restoration process, has officially launched its certification program. The EcoClaim certificate program will enable insurers to…