Quantum computing holds promise for dozens of industries, including property and casualty (P&C) insurance. But there are also downsides to the technology. For one, quantum computers are not yet that stable and must operate in extremely controlled environments. It’s not…
What’s a reasonable rate of return for Canada’s property and casualty insurers? According to Craig Pinnock, chief financial officer at Northbridge Financial Corporation, for the insurance industry, it could sit anywhere between 5% on the low end, 10% on average,…
During Danish Yusuf’s morning routine, his work phone rarely rings and seldom is there an appointment with his Toronto insurance company staff. The lack of disruptions is no coincidence. Yusuf instructed staff not to plan meetings or send electronic communications…
The owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata…
With ransomware and financial fraud on the rise, smaller businesses in Canada are vulnerable, particularly less-sophisticated organizations that move large amounts of money. For smaller brokerage houses selling cyber, examples of your next opportunities may be car dealers, people involved…
Martin Thompson, President, CEO, RSA Canada Disciplined underwriting is the anchor that the P&C industry needs right now. The insurance industry is currently experiencing some pain. Investment returns have been following a general downtrend over the last two decades, from…
Eighty percent of CEOs believe they provide great customer service, according to a recent survey from IBM. However, only 8% of customers believed they receive such service. That disconnect could be killing your brokerage. “If you’re sitting here right now…
Insurers are calling on greater collaboration with law enforcement to help fight auto insurance fraud. The cost of auto insurance fraud is overwhelming, and no one industry can tackle it alone, Don Forgeron, president and CEO of the Insurance Bureau…
Ontario Premier Doug Ford has made drastic changes to his cabinet just months after including auto reforms in its first budget. Taking over as finance minister – and in effect, the auto insurance file – will be Rod Phillips. The…
How much would you give up in annual pay for more meaningful work at your brokerage? A recent study of 1,500 Canadian office workers found that almost half of them would give up nearly $9,000 in an annual pay raise…
It won’t surprise at least one lawyer to hear about insurance claims stemming from the Toronto Raptors championship parade. There were plenty of exposures present during the event on June 17, mainly because of a lack of resources available and…
Brokers should see open banking as more of an opportunity than a threat, a partner with EY Canada suggests. Open banking is a system in which consumers could consent to sharing their banking transaction data with other financial services providers,…