Many commercial clients are “hurting” because of COVID-19, but once the pandemic is over, small businesses currently under lockdown could see their insurance rates rise, Intact Financial Corp. executives suggest. “The biggest difference between the environment in which we operate…
More than one year into the COVID-19 pandemic, there has been a massive, “overnight” shift in employers’ appetite towards employee benefits plans, Hub International speakers said during a recent webinar. “There’s a fast movement towards wellness, virtual services, virtual health…
The long-tail nature of auto bodily injury claims, in addition to insurers’ fixed claims adjustment costs, are among the reasons why insurers are not likely going to reduce auto premiums in proportion to the drop in driving observed during COVID-19.…
Employers in the Canadian P&C insurance industry must shift their role to supporting employees and their families following more than a year of working from home to prevent the spread of COVID-19, Hub International speakers said during a webinar Wednesday.…
TORONTO – Restaurant owners say they are concerned about operations as federal subsidies begin to wind down, even as provinces like Ontario extend stay-at-home or lockdown measures. Restaurants Canada is seeking an exemption from the federal government’s scheduled phase-out of…
As business leaders await an easing of pandemic lockdown restrictions, Aon Plc executives suggest that, going forward, they plan to apply the lessons they’ve learned during COVID-19 regarding collaboration. “We are going to be smart about how we do [travel…
Canadian insurers may introduce new communicable disease exclusions to harmonize policy language with their revised reinsurance policies, Insurance Bureau of Canada (IBC) said recently. International reinsurance markets introduced a new communicable diseases exclusion in many countries over the past few…
CALGARY – Measures to control the COVID-19 pandemic made for a bumpy ride for most of the ski and snowboard industry in Canada, as revenues slumped even at resorts that were able to maintain near-normal lift ticket sales in a…
Global events have delayed the career development of young insurance professionals and the P&C industry needs to figure out how to help, risk manager execs said during the recent RIMS Live 2021 virtual conference. Colleen Zitt, chief risk officer at…
The parent company of Northbridge Insurance took a stand against cutting staff due to the pandemic. “One of the things we did last year is we said [to the president of each Fairfax-owned insurer], ‘You cannot use COVID-19 as a…
MONTREAL – The COVID-19 pandemic, a dockworkers strike and a rail blockage hit the Port of Montreal, which saw its cargo volumes fall in 2020 for the first time in seven years. The port says its volumes fell 14 per…
The global COVID-19 pandemic has taught risk managers to be prepared for any threats, no matter how unlikely or far-fetched they may seem, industry experts said at a RIMS conference webinar panel. The risk of a pandemic has been on…