How Canada’s data breach reporting law can help brokers sell cyber based on facts, not fear
March 22, 2018 by David GambrillCanada’s forthcoming implementation of mandatory data breach reporting may create an opportunity for the country’s commercial brokers to have conversations with their clients about cyber insurance risk based on concrete data instead of fear, a Marsh Canada broker says. Improved…
Mobile app offers an ounce of prevention to P&C insurance consumers
March 22, 2018 by Jason ContantAs Canada’s wireless providers prepare to provide mandatory smartphone alerts for natural disasters and other emergencies, Desjardins General Insurance Group (DGIG) will soon allow its customers access to a severe weather alert system through mobile apps. This week, the Canadian…
Wilder weather forcing Canadian power utilities to adapt
March 19, 2018 Keith Doucette - THE CANADIAN PRESSThe increasing intensity of storms that lead to massive power outages highlights the need for Canada’s electrical utilities to be more robust and innovative, climate change scientists say. “We need to plan to be more resilient in the face of…
Auto pricing report shows the slow pace of regulatory approvals, insurers say
March 14, 2018 by David GambrillA 2018 Auto Insurance Price Index released Tuesday illustrates, more than anything, the slow pace of regulatory approval for auto rates across the country, Insurance Bureau of Canada says. “When we see reports like this [about auto insurance rate trends],…
Third Nor’easter in two weeks pummels Atlantic Canada
March 14, 2018 Michael Tutton - THE CANADIAN PRESSHALIFAX – A small steeple that’s a part of Halifax’s urban landscape toppled early Wednesday in a fierce winter storm that left thousands of Maritimers facing power outages, school closures and flight cancellations. Rev. Betsy Hogan, the minister at the…
Growing frequency, height of storm surges worries mayor
March 8, 2018 The Canadian PressLIVERPOOL, N.S. – Another weekend of storm surges in Nova Scotia has a south shore mayor calling for provincial help to cope with the rising impact of climate change on waterfronts. The mayor of the Region of Queens Municipality said…
Running past the finish line
March 7, 2018 Emily Atkins, EditorDan Langer takes on CICMA presidency in retirement
Comparing insurance contracts? How AI can help expedite the process
March 5, 2018 by Jason ContantGlobal reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm…
Province working on technology to ease damage in flood season
March 5, 2018 Kevin Bissett - THE CANADIAN PRESSFREDERICTON – Flood forecasters in New Brunswick are using new technology to track snow loads and ice movement, hoping more information leads to less damage. Jasmin Boisvert, a water services specialist with the Department of Environment and Local Government, says…
A 15% cut in home insurance premium? There’s (almost) an app for that..
March 1, 2018 by Greg MeckbachA mobile app designed to help homeowners get a discount on insurance premiums by reducing flood risk should be on the market within a year, an Insurance-Canada.ca Technology conference speaker said Tuesday. The Intact Centre on Climate Adaptation at the…
Trial begins over fuel spill in Vancouver harbour
February 28, 2018 Linda Givetash - THE CANADIAN PRESSVANCOUVER – A port worker says he suspected large plumes of oil that were shining on the surface of the water in Vancouver’s harbour nearly three years ago was bunker fuel, based on the smell. A B.C. provincial court judge…
Intact, Fairfax discuss impact of interest rate hike on income
February 27, 2018 by Greg MeckbachWith interest rates at historic lows, Canadian property and casualty insurers rely more on underwriting profits to keep profitable than they have in the past. What difference would a rate hike make to insurers? A one percentage point rise in…