Intact announces departure of executive vice president
March 25, 2019 by Jason ContantIntact Financial Corporation (IFC) has announced that executive vice president Don Fox will be leaving the company effective May 3. Fox has been responsible for overseeing IFC’s investment management, corporate legal, corporate development, audit and finance functions. These key functions,…
New insurance coverage for shared travel accommodations
March 21, 2019 by Jason ContantHas your client booked travel accommodations through platforms like Airbnb, HomeAway and Trip Advisor? If so, they are now able to get insurance coverage for trip cancellations and interruptions. CAA Travel Insurance announced Wednesday it has added a new feature…
Ontario auto discussions ‘very encouraging,’ Intact reports
February 11, 2019 by Greg MeckbachOntario’s new government and auto insurance regulator are “focussed on the right areas,” a senior manager for the province’s largest auto insurer said recently. The Financial Services Regulatory Authority (FSRA) is scheduled to replace the Financial Services Commission of Ontario…
Why being a broker is the best job ever
January 31, 2019 by Jason ContantThe feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal…
Industry in the dark on auto reform
January 15, 2019 by Greg MeckbachNearly two years after David Marshall released his report on Ontario auto insurance reform, there is still no indication on where the government plans to go with it. “We haven’t had a concrete yes or no that they are going…
These two provinces now have storm surge and overland flood coverage
January 7, 2019 by Jason ContantHomeowners in Quebec now have storm surge coverage available, while homeowners in Manitoba are covered for overland flood damage, The Co-operators said Monday. Storm surge, which includes rising water levels and waves caused by storms, presents a significant flood risk,…
Asset manager closes acquisition of Sedgwick
January 3, 2019 by Jason ContantAsset manager The Carlyle Group has closed its acquisition of a majority ownership of Sedgwick from KKR & Co. Inc. and other shareholders for an estimated $6.7 billion. Funds managed by Stone Point Capital LLC and Caisse de dépôt et…
Canadian university risk manager on RIMS board
January 2, 2019 by Greg MeckbachA Canadian risk manager is the new vice president of Risk and Insurance Management Society Inc., New York City-based (RIMS) announced Wednesday. Steve Pottle – director of risk management services for Thompson Rivers University in Kamloops, B.C. – was previously…
Marshall report on Ontario auto ‘dead’
December 18, 2018 by Greg MeckbachA report recommending major auto reforms, from a former CEO of Ontario’s Workplace Safety and Insurance Board, appears to have gone by the wayside. “What I have heard is that [the] Marshall [report] is dead,” consultant Willie Handler said Monday…
How ‘exponential era technologies’ bedevil insurers
December 13, 2018 by Greg MeckbachHow you deal with the always-connected consumer will determine whether an insurtech will eat your lunch, speakers suggested at KPMG Canada’s annual insurance conference. “Digital is oxygen these days. If you are not digitizing your products and your service, you…
What could stop insurers from being ‘uberized’
December 7, 2018 by Greg MeckbachAmazon and Google may disrupt the insurance industry some day, but don’t expect either of these firms to start underwriting, suggests the head of one of Canada’s largest property and casualty insurers. “The Googles and Amazons of this world might…
How future technology will help brokers, not replace them
November 27, 2018 by David GambrillIn a future characterized by “the trillion-sensor economy,” data will become the foundation of broker innovation, an insurtech innovator said Monday at the 2018 Top Broker Summit, hosted by Canadian Underwriter in Toronto. To prepare, brokers need to build strategies…