Segment
Consumers
Less than half of SMEs are ‘very confident’ in their cyber defences: survey
September 29, 2021 Maddie Johnson, Advisor’s EdgeThe vast majority of Canadian companies have cyber security protocols in place, yet many still fall behind when it comes to testing their systems, according to new research from KPMG LLP. The Toronto-based firm’s 2021 Cyber Security Poll found that…
Small businesses continue to be hard-hit by rising premiums this year, CFIB reports
September 24, 2021 by Jason ContantInsurance has become the top operating cost concern for small businesses, with seven in 10 reporting their premiums have increased since the beginning of the year, the Canadian Federation of Independent Business (CFIB) reported. The ongoing hard commercial insurance market,…
How insurtech is making ‘significant inroads’
September 20, 2021 by Greg MeckbachCanada has hundreds of new insurtech startups and some of them can help you give consumers the experience they have come to expect from other industries, speakers suggested during the 2021 A.M. Best Canada Insurance Market Briefing. “I think our…
Where auto insurers are seeing the biggest profitability improvements
September 17, 2021 by Greg MeckbachCanadian auto insurers saw both an increase in auto premiums and an improvement in their loss ratios in 2020, according to research from A.M. Best Company Inc. “Less miles driven translates into less frequency in auto losses,” A.M. Best director…
Biggest insurers will soon control more of the market: A.M. Best
September 16, 2021 by Greg MeckbachCanada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…
Why this strata unit owner does not have to pay for common area damage
September 9, 2021 by Greg MeckbachA British Columbia condo corporation that charged a unit owner $25,000 for common property repairs has been ordered to reverse $15,000 of the charge. Claire Adamson owns a strata unit which she rents out. Adamson lives at a different address.…
Grocery store sticker shock hitting consumers as drought takes toll on crops
September 2, 2021 Amanda Stephenson - THE CANADIAN PRESSCALGARY – Canadians have started to pay more for groceries as severe drought drives up prices for agricultural commodities, and experts say more price hikes are likely this fall. At The Bon Ton Meat Market in Calgary, owner Greg Keller…
Broker calling for ‘fair treatment’ of some policyholders affected by B.C. wildfire crisis
September 1, 2021 Canadian Underwriter StaffA British Columbia-based brokerage is calling for statutory change to standardize the extension of insurance coverage for policyholders affected by active wildfires in the province. “We’ve had a few situations where some customers have been left without insurance at a…
Shhh! Don’t show this article to a jury in a vehicle accident lawsuit
August 31, 2021 by Greg MeckbachAn Ontario court has refused a plaintiff’s request to tell a jury about the statutory deductible, of nearly $40,000 for pain and suffering, in motor vehicle accident tort claims. “The jury is not asked to determine how much the plaintiff…
How will brokers fit into new online distribution models?
August 30, 2021 by Jason ContantEditor’s Note: This story has been updated to include feedback from the Insurance Corporation of British Columbia. Brokers will need to determine where they fit in as more consumers move to online and point-of-sale transactions, said Sarah Thompson, chief…
Post-pandemic mindshift needed in claims leadership: Desjardins execs
August 27, 2021 Canadian Underwriter StaffClaims leaders will need to evolve their mindsets if property & casualty insurers are to succeed in meeting customer demands post-COVID, senior Desjardins Insurance Group execs suggest. “Before the pandemic, we thought we were doing a good job, but we…
Why you need to offer a ‘Choose Your Own Adventure’ claims experience
August 27, 2021 by Jason ContantInsurers need to offer customers a claims experience that can shift and adapt depending on the policyholder’s personal circumstances and what they want on any given day, speakers said Thursday during Reuters Events’ Connected Claims Canada 2021 virtual conference. “I…