Segment
Underwriting
Letter to the editor: Best Terms — the buyer’s point of view
February 26, 2021 BC Risk & Insurance Manager’s AssociationTo the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses…
Intact CEO’s forecast for auto rate relief in 2021
February 24, 2021 by Greg MeckbachIt could be up to a year before driving habits return to normal, but don’t expect many of your clients to pay less for auto insurance. Those were a couple of key takeaways from a recent Intact earnings call. “It…
Canada’s hardest-hit commercial lines — and a reason for optimism
February 18, 2021 by David GambrillCommercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report…
COVID’s impact on aviation insurance could be worse than you think
February 1, 2021 by Greg MeckbachThe drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID…
Telematics: Who’s jumping into the pool and who’s watching from the deck
January 28, 2021 by Greg MeckbachAuto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance…
How airlines can be exposed to personal injury lawsuits
January 27, 2021 by Greg MeckbachSlips and falls are not just an exposure for property managers and landlords. They are also a concern for aviation insurers. “Generally, aviation insurers are exposed to liability claims from passengers both while they are inside the airplane and also…
Your clients are more willing to share personal data for a better insurance deal
January 26, 2021 by David GambrillConsumers are increasingly willing to share their personal information with their insurers as long as it will help them prevent injury and loss, according to a recent consumer research conducted by Accenture. The caveat here is that consumers don’t trust…
Six reasons why commercial prices will probably continue rising
January 25, 2021 by Greg MeckbachDon’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said…
Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada
January 25, 2021 by David GambrillGarth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered…
What could push Facebook and Amazon into offering insurance
January 12, 2021 by Greg MeckbachIf the federal government goes forward with giving fintechs increased access to consumer financial transaction data, this could encourage large tech players like Amazon and Facebook to get into the insurance business, a Canadian P&C expert suggests. “Nobody ever thought…
The ‘strange and new opportunity’ for insurance from open banking
January 4, 2021 by Greg MeckbachIf Canada proceeds with so-called “consumer-directed finance,” technology firms could potentially get access to consumers’ insurance data, a Microsoft Canada expert told brokers during a recent webinar. The federal finance department appointed its Advisory Committee on Open Banking in 2018.…
Why the D&O market will probably get harder
December 15, 2020 by Greg MeckbachData breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions…