Canadian Underwriter

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Why change in P&C is a difficult proposition: The innovator’s dilemma

April 14, 2021 by Adam Malik

Insurers are between a rock and a hard place when it comes to changing the way they do business, because of the risk of harming broker relationships, investment costs, and, at the end of the day, the current system works,

News Insurance

Sky’s still the limit for Canadian P&C industry consolidation: broker exec

April 6, 2021 by Adam Malik

Canadian property and casualty insurers have seen many a deal take place over the years — and it would be no surprise to see more to come, says a broker executive. During the latest edition of the Insurance Institute of

News Earnings / RatingsTechnology

Explain how AI leads to underwriting decisions, report urges

March 31, 2021 by Greg Meckbach

Insurers who use big data and artificial intelligence to make underwriting decisions must be prepared to explain to clients and regulators exactly how they arrived at those decisions, an Insurance Institute of Canada researcher suggests. “A challenge in the application

News Insurance

Fewer brokers in 10 years, insurance exec predicts

March 24, 2021 by Adam Malik

Brokers may not disappear over the next 10 years but their ranks will definitely thin out, an insurance brokerage executive predicted during a recent webinar. Commoditization of the insurance industry will cut out transactional procedures that many brokers find themselves

News Insurance

How to handle three made-in-COVID client situations

March 8, 2021 by Adam Malik

The COVID-19 pandemic has created a series of unique risk exposures for Canadian policyholders, and industry experts gave a crash course on how they would handle these newly common scenarios. Three made-in-COVID situations presented themselves to clients over the past

News Insurance

How a shrinking office footprint can grow your company

February 26, 2021 by Adam Malik

You can grow your business by shrinking the office footprint, as long as you do it correctly, the CEO of Travelers Canada says. Several P&C insurance company executives are openly discussing how much office space they might actually need once

News Insurance

The critical piece that made remote work successful for Travelers

February 12, 2021 by Adam Malik

Property and casualty insurance industry employers need to work with staff to set clear expectations when it comes to setting up a working-from-home policy, says an insurer executive. Done correctly, P&C employers can see a boost in productivity and employee

News Insurance

The tough calls broker, insurers will be making this year

January 25, 2021 by Adam Malik

Pressure on insurers to provide sustainable results, brokers expanding their service offerings and the growing gap between big and small are just some of the trends the P&C insurance industry will face this year that will give leaders plenty to

News Insurance

Why brokers may face E&O exposure due to COVID-19

January 20, 2021 by Adam Malik

One prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that

News Insurance

What underwriters can do to help brokers during a hard market

December 9, 2020 by Adam Malik

They say timing is everything, and that is particularly true of brokers working with underwriters. The earlier underwriters can tell brokers about the market challenges they are facing, what they deem to be an important part of a submission, and

News Insurance

What insurers want brokers to stop doing

November 30, 2020 by Adam Malik

Brokers who take a broad, scattershot approach to getting submissions approved by underwriters are only setting themselves — and their clients — up for failure and disappointment, an insurance executive warned during a recent webinar. For a better chance at

News Insurance

COVID-19 doesn’t mean putting your career on hold: Insurer exec

November 24, 2020 by Adam Malik

The global COVID-19 pandemic has changed the way people work and learn but similar to how brokerages and insurance companies continued to operate in a new environment, learning and growth opportunities shouldn’t have to stop, said the leader of an