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News InsuranceMarkets / Coverages

Why the industry needs to focus on “accidental” disruptors

January 22, 2019 by Jason Contant

The 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

News CatastrophesInsurance

What will insurance look like in 30 years?

January 21, 2019 by Jason Contant

Insurance 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

News InsuranceTechnology

How weak insurance sector growth puts technology in the spotlight

January 17, 2019 by Jason Contant

Expected 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

News InsuranceRisk

Why CBI insurance is on the rise in Canada

January 16, 2019 by Jason Contant

Contingent 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

News Legislation / RegulationRiskTechnology

This province lacks ‘reasonable’ cyber security: privacy commissioner

January 15, 2019 Keith Doucette - THE CANADIAN PRESS

HALIFAX – 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

News InsuranceTechnology

Why future AI will involve less data

January 14, 2019 by Jason Contant

Machines 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

News AdjustersClaimsInsuranceRisk

An adjuster’s take on the hazards of cannabis edibles

January 14, 2019 by Jason Contant

Edibles 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

News CatastrophesEngineering

Experts call for federal investigation of fatal bus crash

January 14, 2019 Alanna Rizza THE CANADIAN PRESS

Experts 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

News ClaimsInsuranceRisk

How emergency generators can help reduce insured losses

January 11, 2019 by Jason Contant

Emergency 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

News ClaimsLegal

How waivers of liability could be harder to enforce

January 10, 2019 by Greg Meckbach

The 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

News InsuranceTechnology

Safety recall affects 1.7 million vehicles in North America

January 10, 2019 Tom Krisher - THE ASSOCIATED PRESS

DETROIT – 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

News InsuranceMarkets / Coverages

Beginner’s guide to insuring pot

January 9, 2019 by Jason Contant

After 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