Insurer reacts to new distracted driving penalties
January 7, 2019 by Greg MeckbachThe new licence suspensions and $500 minimum fines for distracted driving should remind Ontario motorists not to text and drive, a spokesperson for CAA South Central Ontario predicts. “We hope this is going to serve as a deterrent,” CAA SCO…
The Co-operators acquires Quebec independent brokerage
January 4, 2019 by Jason ContantThe Co-operators announced Thursday it has purchased Quebec-based independent brokerage Assurances Madelein Inc., its 16th office in the province. The Laval, Que.-based brokerage’s portfolio includes personal and commercial insurance lines, as well as life, disability, health and mortgage insurance, and…
2019 Executive Outlook | Ulrich Kadow, AGCS Canada
January 3, 2019 Canadian UnderwriterCanadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019…
Insurance hard to obtain for this food processor
December 20, 2018 by Greg MeckbachProduct liability and recall insurance is expensive and hard to place, a large chicken processing firm reported Thursday. Sanderson Farms Inc. said its business carries several risks, including product liability claims, product recalls, property damage and injuries to people. “The…
Flying cars may appear in urban skies by 2023
December 17, 2018 Christopher Reynolds - THE CANADIAN PRESSThe flying cars depicted in science fiction classics such as “Blade Runner” and “The Fifth Element” have long been seen as flights of fancy, but their arrival is closer than you think. At least a dozen companies are prototyping or…
Focusing on sales may be hindering your social media strategy
December 16, 2018 by David GambrillMost brokers see social media as a way to increase sales and generate leads, according to a new study by Aviva Canada, but social media are more effective for brand awareness, building an online community and retaining customers, according to…
How costly is the fire peril for Canadian insurers?
December 13, 2018 by Jason ContantThe traditional fire peril continues to cost Canadian insurers, with fire/explosion accounting for almost a quarter (23%) of commercial claims by value, Allianz Global Corporate & Specialty (AGCS) said in its new Global Claims Review report, released Thursday. AGCS analyzed…
How some brokerages and MGAs attract talent
December 13, 2018 by Jason ContantWhat’s the best way of attracting qualified talent to your brokerage? Some brokerages and managing general agencies (MGAs) have cited looking outside the insurance industry or recruiting from local community colleges. McConville Omni Insurance Brokers, a personal and commercial lines…
Why your brokerage needs a lead management system
December 12, 2018 by Jason ContantBrokerages going through a major transformation such as a merger should consider a lead management system, recommends the CEO of a brokerage that underwent a merger in 2015. “Really focus on a lead management system because otherwise you’ll have no…
Does CGL’s duty to defend apply to the insurance policy as a whole?
December 10, 2018 by Jason ContantAn insurer’s duty to defend under a provision in a commercial general liability (CGL) form is applicable to the insurance policy as a whole, the Court of Queen’s Bench of Alberta has ruled. In a decision released Friday, the court…
Saskatchewan approves ride hailing rules
December 7, 2018 Ryan McKenna - THE CANADIAN PRESSREGINA – Saskatchewan has approved ride-hailing regulations but it could be a while before companies and drivers hit the road in the province’s two biggest cities. Rules are to take effect on Dec. 14 but the minister responsible for Saskatchewan…
How to grow in an era of new, intangible business risks
December 6, 2018 by David GambrillAs business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA…