Segment
Risk Management
Why the industry needs to focus on “accidental” disruptors
January 22, 2019 by Jason ContantThe insurance industry is used to looking for “intentional” disruptors, but it really needs to focus on “accidental” disruptors, says a P&C insurance consultant. “We all can see the real disruptors out there, the ones that are finding the ways…
What will insurance look like in 30 years?
January 21, 2019 by Jason ContantInsurance company survival and relevancy will be big issues for the industry in the coming decade, predicts a P&C industry consultant. “We are facing somewhat of a crisis in that our industry is only picking up 32% of catastrophic losses…
How weak insurance sector growth puts technology in the spotlight
January 17, 2019 by Jason ContantExpected weak insurance sector growth in the near-term is fueling the need for efficiency gains through technology and innovation, Ernst & Young Canada said recently. The EY Insurance Outlook 2019 reveals that insurance sector growth is expected to remain weak…
Why CBI insurance is on the rise in Canada
January 16, 2019 by Jason ContantContingent business interruption (CBI) insurance is on the rise in Canada, with an increase in both demand and higher limits, says the CEO and chief agent for Allianz Global Corporate & Specialty (AGCS) Canada. “This is one of the most…
This province lacks ‘reasonable’ cyber security: privacy commissioner
January 15, 2019 Keith Doucette - THE CANADIAN PRESSHALIFAX – A pair of reports slam the Nova Scotia government for failing to protect personal information, saying the risk management around its freedom-of-information website was inadequate and a privacy breach last year was preventable. In his report released Tuesday…
Why future AI will involve less data
January 14, 2019 by Jason ContantMachines and applications with artificial intelligence (AI) capabilities will soon rely less on bottom-up big data and more on top-down reasoning that more closely resembles the way humans approach problems and tasks, Accenture said Monday. “We will have top-down systems…
An adjuster’s take on the hazards of cannabis edibles
January 14, 2019 by Jason ContantEdibles containing cannabis are expected to become legal in Canada later this year, so insurance professionals are encouraging social hosts and commercial establishments to ensure their guests are consuming these products responsibly. With the legalization of recreational marijuana in Canada…
Experts call for federal investigation of fatal bus crash
January 14, 2019 Alanna Rizza THE CANADIAN PRESSExperts are calling on the federal transportation safety board to investigate a deadly bus crash in Ottawa to prevent similar incidents from occurring again. Ahmed Shalaby, a civil engineering professor at the University of Manitoba, said the Transportation Safety Board…
How emergency generators can help reduce insured losses
January 11, 2019 by Jason ContantEmergency generators not only temporarily provide electricity during a power outage, but can also mitigate property damage and help reduce insured losses, says a new report from the Institute for Catastrophic Loss Reduction (ICLR). These generators can help reduced insured…
How waivers of liability could be harder to enforce
January 10, 2019 by Greg MeckbachThe Supreme Court of Canada could make a landmark decision on whether clients facing personal injury lawsuits can enforce waivers in court. In Schnarr v. Blue Mountain Resorts Limited, the Court of Appeal for Ontario ruled in early 2018 that for…
Safety recall affects 1.7 million vehicles in North America
January 10, 2019 Tom Krisher - THE ASSOCIATED PRESSDETROIT – Toyota is recalling 1.7 million vehicles in North America to replace potentially deadly Takata front passenger air bag inflators. The move announced Wednesday includes 1.3 million vehicles in the U.S. and is part of the largest series of…
Beginner’s guide to insuring pot
January 9, 2019 by Jason ContantAfter nearly three months of recreational marijuana being legal in Canada, insurers are still trying to wrap their heads around a sector with no track record and lots of uncertainty. For specialist insurer CFC Underwriting, there is still some caution…