You’ve got your clients’ data locked down, but can you prove it to a regulator?
March 28, 2018 by David GambrillInsurance organizations may be good at protecting their own clients’ data, but can they prove it? “In general, I would say that insurers are good at securing their data,” French Caldwell, a former advisor to the White House on cybersecurity,…
RSA Canada endorses “all of the recommendations” in Marshall report
February 26, 2018 by Greg MeckbachAlthough every Canadian auto insurance system has its problems, a special advisor to Ontario’s finance minister did an “excellent job” in describing the problems specific to that province, says the head of RSA Canada. “I don’t think there is an…
Ontario PC leadership hopeful slams Liberals for delaying auto fraud office
February 21, 2018 by Greg MeckbachOntario PC leadership candidate Caroline Mulroney promises to do “more than just talk” about cracking down on insurance fraud if she becomes premier of Ontario this June. Ontario Liberal Finance Minister Charles Sousa announced this past December the provincial government…
What to ask your D&O clients before a market correction
February 15, 2018 Greg Meckbach, Associate EditorThe latest stock market roller coaster ride should prompt brokers placing directors’ and officers’ liability to ask their clients about independent audits and internal controls. The week ending Feb. 9 saw a “a steep and broad-based selloff” in the stock…
Why Intact plans to raise auto insurance premiums
February 12, 2018 by Greg MeckbachIntact Financial Corp. plans to apply nation-wide for rate increases in personal auto, a move to improve the firm’s profitability in personal auto insurance. “In terms of additional rate actions in 2018, we are expecting a further 5% [increase] in…
New training ground for P&C industry’s future managers
January 30, 2018 by David GambrillThere’s a new training ground in Canada for insurance professionals interested in fast-tracking themselves into entry-level management positions at insurance companies, adjusting firms and brokerages. Humber College in Toronto is halfway through its inaugural, two-semester P&C Insurance Management Postgraduate Program,…
Why brokers should ask clients about their human resource departments
January 30, 2018 Greg Meckbach, Associate EditorBy asking if a business client has a human resources department, a broker can quickly find out about that client’s liability exposure. If a client’s business has an HR person or a legal advisor, that “tends to really decrease liability…
Gift cards–a new way to reduce liability
January 26, 2018 by David GambrillYou are providing risk advice to a company accused of wrongdoing. What do you think about your client offering voluntary gift cards as a strategy to reduce liability? The question is currently before the Ontario Superior Court of Justice in…
RCCAQ appoints Louise Mathieu to board of directors
January 26, 2018 by Jason ContantQuebec broker association Regroupement des cabinets de courtage d’assurance du Quebec (RCCAQ) has appointed Louise Mathieu, vice president at brokerage Lussier Dale Parizeau, to its board of directors. Mathieu is returning after having been a board member for several years,…
Driverless cars and the irony of solving Ontario’s auto problem
January 17, 2018 by Greg MeckbachAs driverless cars become more popular, and as the focus of insurers gradually shifts from insuring vehicle owners to providing product liability for the manufacturers of autonomous vehicles, the Ontario government’s auto insurance reforms may finally be yielding some better…
Deal with LOGiQ3 sees U.S. firm acquire Canadian insurtech
January 10, 2018 by Jason ContantRGAx, a subsidiary of Reinsurance Group of America, has acquired a group of companies providing technology, consulting and outsourcing solutions to the North American life and reinsurance industries – including two Canadian organizations. On Jan. 8, RGAx announced the acquisition…
2018 Outlook: Silvy Wright, President, CEO Northbridge Financial Corporation
January 3, 2018 Silvy WrightWith digital innovation, customers are extracting more value from their insurance partners — and this will only continue to ramp up in 2018. Insurtech startups raised $985 million in 2017 Q2 alone; investments in startups have increased by 36% over…