Telematics, which allows insurance companies to measure client driving behaviour, has largely been used by carriers in the underwriting process, but it may prove to be equally as useful for claims, says one telematics provider. Claims telematics can be used…
Everest Re Group’s reinsurance division, Everest Reinsurance, has promoted Scott Paddington to chief agent and chief underwriting officer of Everest Reinsurance Canada. It also appointed Russ Lewis to chairman of Everest Reinsurance Canada. Both now report to Jill Beggs, head…
Managers must develop different management skills for the post-COVID world, say panellists at the Insurance Institute of Canada’s Pivot with Purpose webinar. As many organizations begin their transition to a hybrid work model, companies have a responsibility to adapt their…
Cybercriminals are now specifically searching for terms like ‘insurance’ when looking for data, a partner with Norton Rose Fulbright Canada LLP said during an industry event last week. “They’re not just looking for any data. They’re actually quite smarter,” says…
Many in the P&C industry plan to return to work in-person, so companies may want to consider ways to incentivize their employees to return to their offices, suggests a panellist at the Insurance Institute of Canada’s Pivot with Purpose webinar.…
While federal budget proposals aimed at dampening home-price escalation may modestly help insurers control reconstruction costs for insureds, there’s another side to the conversation. What if it doesn’t work? Beyond price appreciation, lots of factors — like updates to building…
With growing calls for diversity and a shortage of fresh talent, the P&C industry has made some progress by adding more diverse talent to its roster, but industry experts say more can be done to make it truly diverse. Representation,…
Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming…
Staying one step ahead of cybercriminals seems to be a never-ending battle for insurers and insureds, cyber experts said during an industry event Wednesday. “The problem is, as we increase our cyber hygiene and become better insureds, the criminals adapt…
Look for Canada’s P&C industry to fine-tune the hybrid workplace model over the next six months, as the country starts to ease pandemic restrictions, industry execs say. The tinkering will involve achieving the best balance between meeting in person with…
While many insurers tout usage-based insurance as the most accurate way to rate kilometres driven, TD Insurance is offering a new twist on an old ratings variable. To offer consumers choice, and a more accurate assessment of their driving risk,…
When adjusters are finally able to assess the damage stemming from the war in Ukraine, costs may exceed the Sept. 11, 2001 terror attacks as the largest industry-wide insured loss, across all classes of business, in history, said a specialty…