Carol Jardine, President, Canadian P&C Operations, The Wawanesa Mutual Insurance Company One of the most important issues facing the industry is the Canadian consumer’s pocketbook. Canadian families have never been more in debt and GDP and wage growth aren’t helping.…
Canada’s property and casualty insurers posted moderate profitability in the first nine months of 2019, but poor underwriting results and high loss ratios linger, notes an executive from the Property and Casualty Insurance Compensation Corporation (PACICC). For Q3 2019 year-to-date…
When pricing property coverage in the future, it’s time for the industry to ask itself: “How are we going to deal with changes in weather?” Historically, insurance products have been priced based on data and loss history, observes Ernest Mashingaidze,…
Gone are the days of directors and officers insurance being put to the test due to guidance misses or financial misstatements. Nowadays, the biggest threats are coming from so-called “bad news” events like product recalls, disasters and cyberattacks. And the…
Global insurers are starting to withdraw from providing insurance coverage to the oil sands, which accounts for about two-thirds of Canadian oil production. What this means for your clients in the oil and gas sector…
Insurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a…
Concerned about whether “black box” underwriting methods based on artificial intelligence are good for your clients? So is Canada’s federal insurance regulator. “We get a lot of questions around AI and what are we to do about it,” said Neville…
We’ve all heard of ‘silent cyber’: potential cyber exposures contained within traditional property and liability policies that may not implicitly include or exclude cyber risks. But what about a ‘silent assassin’ in a policy? “Technology-related areas are a silent assassin…
Commercial brokerages are looking at non-traditional approaches, particularly around technology, to attract and build producer talent, speakers said Thursday at Insurance Bureau of Canada’s inaugural Commercial Insurance Symposium in Toronto. “We’re seeing some commercial brokerages put increasing emphasis on [non-traditional…
Canada’s federally-regulated property and casualty insurers appear to be getting a handle on their property lines claims ratios, although auto lines are still in trouble, according to third-quarter industry results released by the country’s solvency regulator, the Office of the…
There’s a huge opportunity for Canadian brokers during this hard market and it’s hidden in plain sight — cyber insurance. Cyber protection has been a dominant fixture in industry discussions for the past several years. The product has evolved considerably,…
Young insurance professionals are being put in senior positions despite not having enough experience and it risks putting the industry in a perilous position, warns one veteran award-winning broker. Complicating matters further, she says, the industry across the board has…