How Zurich can use AI to reduce a broker’s E&O exposure
February 25, 2019 by Greg MeckbachA Toronto-based artificial intelligence (AI) vendor is working with Zurich Canada to reduce errors and omissions risk in commercial insurance policies. Often commercial policies have dozens of pages with several endorsements, which someone needs to read for accuracy before the…
What the commercial underwriter of the future might look like
February 22, 2019 by Jason ContantCommercial underwriting in the future may expand to encourage more cross-functional and hybrid responsibilities, potentially with engineering, claims, finance or operations, according to a new report from McKinsey & Company’s insurance practice. “To attract younger talent, companies need to recognize…
Next step for $2-billion building collapse lawsuit against Loblaws
February 21, 2019 by Greg MeckbachA $2-billion class-action lawsuit against Canada’s largest food retailer could reach the Supreme Court of Canada. The bodily injury lawsuit against Loblaw Companies Limited was filed in 2015 in Ontario by victims of a 2013 commercial building collapse in Bangladesh.…
NFP Corp acquires Ontario P&C brokerage
February 20, 2019 by David GambrillNFP Corp., a global insurance brokerage and consultant, has acquired Ontario-based property and casualty brokers Mass Insurance Brokers Limited and Easyway Insurance Brokers Inc (collectively known as Mass). Terms of the deal were not disclosed. NFP announced the deal, which…
Atlantic Canada brokerage acquires family-owned operation
February 15, 2019 by Jason ContantArchway Insurance, one of Atlantic Canada’s largest brokerages, has announced the acquisition of family brokerage George Mitchell Insurance in Liverpool, N.S. Amherst, N.S.-headquartered Archway announced the acquisition Thursday. Effective Feb. 28, 2019, Archway’s latest acquisition brings its number of locations…
Captive insurance programs target commercial auto in Canada
February 15, 2019 by Jason ContanteCaptiv, which provides alternative and captive insurance solutions in Canada and the United States, will be forming two group captives through an exclusive group of independent insurance brokers to “combat commercial auto trends in Canada.” The programs are in the…
Opta acquires getClarity: linking property and risk data with consumer profiles
February 14, 2019 by David GambrillWith its recent acquisition of getClarity, Opta Information Intelligence is expanding into the area of customer and prospect behaviour. Opta is Canada’s largest property data aggregator and a provider of risk intelligence and loss control services. Its solutions include iClarify…
How your client’s directors could be blamed for cyber losses
February 14, 2019 by Greg MeckbachCyber risk awareness is on the rise among corporate directors, who could face liability risk if they are accused of being lax on governance. “Corporate clients are more likely to be aware today, compared to a few years ago, of…
Insurer CEOs react to hardening commercial market
February 13, 2019 by Greg MeckbachThe pace of the hardening market in commercial lines has come as a surprise to some executives at Canada’s largest property and casualty insurer. “We have seen a shift in commercial lines that is pretty abrupt in the past six…
Hub continues expansion into employee benefits
February 12, 2019 by Greg MeckbachHub International Ltd. has bought another Canadian employee benefits operation. Chicago-based Hub announced Tuesday it has acquired the assets of Toronto-based Firstbrook Pointon Benefits Incorporated. Tuesday’s announcement comes a month after Hub acquired Vancouver-based TRG Group Benefits and Pensions Inc. Firstbrook…
Lawsuit over flooding, catch-basin access could reach Supreme Court
February 11, 2019 by Greg MeckbachA property owner who was sued for more than $100,000 over laneway flooding is hoping to appeal to the Supreme Court of Canada. Marilyn Marks owns commercial property in the community of Tottenham, Ont., about 40 kilometres north of Toronto…
Common misconceptions about business interruption insurance
February 8, 2019 by Jason ContantOne strong challenge to the broker channel, according to brokers, is consumer self-education about their insurance needs and options. Nowhere is this more evident than in the field of business interruption (BI) insurance, a very specialized coverage that is rife…