Segment
Consumers
How Hurricane Ian will strain insurers’ capacity
October 3, 2022 Philip PoradoHurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive…
What cyber insurers can learn from property insurance policies
October 3, 2022 by Alyssa DiSabatinoAn increase in frequency and severity of cyber insurance claims may be on the horizon, but insurers may be able to stick-handle this risk by taking inspiration from property insurance programs, said one cyber expert during a Canadian Underwriter webinar.…
Will Canada’s cyber reporting be harmonized?
September 30, 2022 by Alyssa DiSabatinoThe Insurance Bureau of Canada would like to see a harmonization in Canada on cyber reporting, says Celyeste Power, IBC’s executive vice president of strategic initiatives and advocacy during a Canadian Underwriter webinar. “A lot of regulators around the world…
Vancouver gas prices break North American record: analyst
September 30, 2022 The Canadian PressVANCOUVER – Gas prices in Vancouver hit a new high of more than $2.39 a litre at some stations Thursday, blowing past the previous peak set this summer. One gas analyst said that’s a new all-time record for North America,…
Which firm racked up 8 mergers over the summer?
September 28, 2022 Canadian Underwriter StaffBrokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in…
Why your clients’ companies need to start ‘friendshoring’ their supply chains
September 28, 2022 by Alyssa DiSabatinoSupply chain disruptions can be circumvented if businesses start to engage in ‘friendshoring,’ one risk expert told the RIMS Canada Conference in Halifax. “Friendshoring is a polite way of saying the only people you can have in your supply chains…
What your commercial clients forget to do after a cyber breach
September 27, 2022 by Alyssa DiSabatinoCommercial clients who suffered a cyber data breach may be inclined to quickly pay the ransom and get back on their feet, but brokers should advise their clients not to forget about post-breach communication with their customers and employees. If…
Texting while driving, and 4 other things that boost clients’ premiums
September 27, 2022 Canadian Underwriter StaffClient sent a text while driving and got caught? A conviction for that infraction beyond the police fine can cost a driver a 70% premium hike when it’s time to renew, said a new study from RatesDotCa. The study was…
How to ensure your clients’ property values are accurate amid volatility
September 26, 2022 Alyssa Di SabatinoInaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported…
Is Canada’s insurance industry becoming an online fraud target?
September 26, 2022 Canadian Underwriter StaffCanada’s insurance industry saw the highest increase in digital fraud attempts—up 125% between Q2 2021 and Q2 2022—of all industries in the country that were screened as part of a quarterly study from credit-reporting firm TransUnion. The only Canadian industries…
How brokers can prevent D&O clients from getting burned for greenwashing
September 23, 2022 by Alyssa DiSabatinoInvestors are increasingly pursuing companies for ‘greenwashing,’ referring to company directors who misrepresent their climate credentials or fail to act in accordance with their stated climate goals, says a financial services executive at Marsh Canada. Commercial brokers can help their…
Who is putting your client’s company at risk for a cyber scam?
September 22, 2022 by Alyssa DiSabatinoTwo-in-five employees surveyed (42%) said they’ve seen an increase in cyber scam attempts over the last year, yet only a third of surveyed employees (34%) reported their company provides mandatory cyber security awareness training, finds new research by the Insurance…