Segment
Risk Management
How the P&C industry responded to Canada’s National Adaptation Strategy
November 24, 2022 by David GambrillCanada announced today a total of $1.6 billion in new federal funding to help communities adapt to climate change by building infrastructure more resilient to natural disasters. The investment is part of the federal government’s new National Adaptation Strategy: Building…
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…
Hamilton, Ont. mayor calls for investigation after sewer leak went undetected for 26 years
November 23, 2022 The Canadian PressHamilton Mayor Andrea Horwath is calling for an investigation after city staff discovered a pipe has been dumping sewage into the local harbour undetected for 26 years. Horwath says she has asked the city auditor to be brought in after…
Why insurers should invest in genetically modified trees
November 22, 2022 by David GambrillInsurance companies should consider investing in genetically-modified, slow-burning trees to mitigate wildfire damage, according to a first-prize pitch at the WinterHack 2022: Design Thinking Ideathon. “We will be taking advantage of state-of-the-art biotechnology and building upon it to create a…
Climate Changed: Rising oceans, storm surges ‘disaster in slow motion’ for coasts
November 22, 2022 Hina Alam - THE CANADIAN PRESSTides are rising, sands are shifting and coastlines are crumbling. As studies warn of rising seas and accelerated erosion resulting from climate change, coastal communities in Canada are wondering what the future holds. “Living on the coast is part of…
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,”…
Covering larger risks? Why subscriptions may be the way of the future
November 18, 2022 Philip PoradoAs claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George…
Canada won’t back call to ‘phase down’ oil and gas production
November 18, 2022 Mia Rabson - THE CANADIAN PRESSOTTAWA – Canada won’t agree to add language calling for the phaseout of all fossil fuels – including oil and gas – to the final agreement at this year’s United Nations climate talks in Egypt, Environment Minister Steven Guilbeault said…
Insurers urge trucking fleets to use telematics data more proactively
November 17, 2022 by David GambrillInsurance companies are looking for truck fleets to manage their telematics data more proactively through the development of individual driver scorecard programs. “Insurance companies expect that [trucking fleets] don’t just have the [telematics] technology, but they’re doing something with the…
Methane emissions underestimated, a growing number of reports suggest
November 16, 2022 Bob Weber - THE CANADIAN PRESSAs the federal government moves to tighten regulations on methane emissions, new assessments suggest the amount of the potent greenhouse gas escaping into the atmosphere has been significantly underestimated. A recent survey of oil and gas facilities in Canada found…
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…
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…