Latest Canadian statistics on slips and falls on ice
February 28, 2019 Adina Bresge - THE CANADIAN PRESSAll it took was one foul step, and Ahsher Zeldin was in for at least a week of pain. Last Thursday, Zeldin was taking his two dogs out for an early morning stroll in north Toronto when a patch of…
The new, darker social engineering threat
February 28, 2019 by Jason ContantNeed another reason to convince your clients to take a look at cyber insurance? One good starting point is keeping them informed on the latest cyber threats. One such risk is a new, darker strain of social engineering called “sextortion”…
Why the insurance industry needs a “killer use case” for blockchain
February 28, 2019 by Jason ContantThe insurance industry needs a “killer use case” for blockchain that all stakeholders can agree on before moving forward with more widespread adoption, a speaker suggested Wednesday at the Insurance-Canada.ca Technology Conference. “I think we are still on that journey…
What this insurer did to address IFRS 17 requirements
February 27, 2019 by David GambrillSSQ Insurance has partnered with analytics firm SAS to help further their efforts towards IFRS 17 compliance. The new International Financial Reporting Standard (IFRS 17) standardizes reporting requirements for financial firms internationally, with the intent to improve financial transparency. But…
This global carrier could re-enter the Canadian retail insurance market
February 27, 2019 by Greg MeckbachSeventeen years after selling its personal lines business to the insurer now known as Intact, Zurich Canada has ambitions to re-enter the “retail” space, but it remains to be seen how it would do that or what form it would…
This AI tool is a ‘huge priority’ for some insurers
February 27, 2019 by Greg MeckbachChatbots are getting better at answering questions, and many Canadian insurers are taking a serious look at the technology, a fintech analyst said Tuesday. “Quite a few of the major insurers in North America are looking to chatbots as a…
How much business Sonnet writes for Economical
February 22, 2019 by Greg MeckbachDirect writer Sonnet accounted for about 5% of Economical Insurance‘s premiums in 2018, the Waterloo, Ont. mutual reported Thursday. “While Sonnet requires additional scale to achieve profitability, we now have sufficient insights and experience to improve performance, and we have…
One solution for non-damage business interruption
February 21, 2019 by Jason ContantParametric insurance can help fill a gap in some policies by covering non-damage business interruption, a speaker said Tuesday at AXA XL’s Fast Forward LIVE event in downtown Toronto. Caused by a variety of factors, including severe weather conditions, non-damage…
AB case generates massive confusion around “but for” causation test
February 21, 2019 by Jason ContantA recent Ontario accident benefits case has highlighted ongoing confusion about how to identify and apply the proper causation test — including the contentious “but for” clause. The case revolves around whether the “but for” test of causation or the…
The impact of hardening Lloyd’s market on Fairfax
February 20, 2019 by Greg MeckbachA tough Lloyd’s market and California’s worst-ever wildfire led to an underwriting loss for Brit Plc, which Toronto-based Fairfax Financial Holdings Ltd. acquired in 2015. Fairfax officials faced pointed questions during its recent earnings call from one analyst who suggested…
Where Fairfax is going with future acquisitions
February 19, 2019 by Greg MeckbachWhile Fairfax Financial Holdings Ltd. is not ruling out the possibility of buying small specialty insurance players, don’t expect the firm to buy any big insurers any time soon. Toronto-based Fairfax, whose holdings include Northbridge Insurance, bought the majority of…
How branding affected these insurers’ consumer scores
February 19, 2019 by Greg MeckbachAn insurer’s popularity among consumers can differ by brand alone, a recent J.D. Power survey indicates. “There are differences when it comes to products, when it comes to distribution, when it comes to your marketing messaging,” Tom Super, director of…