Looking for clarity on insurance regulations? Try this new hub…
May 14, 2019 by Adam MalikThe Canadian Council of Insurance Regulators (CCIR) will be launching a new access point this fall to help insurance providers understand licencing and regulatory regimes across Canada. The launch of the Fintech Advisory Hub was met with enthusiasm from the…
Flexible schedule tops list of summer wants
May 14, 2019 by Adam MalikWhen it comes to summer perks, Canadian employees want their bosses to give them a more flexible schedule. Almost half (49%) of the 400 respondents to a survey from staffing firm Accountemps said they wanted more opportunities to work from…
Munich Re Canada appoints new president and CEO
May 14, 2019 by Jason ContantMunich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich…
Why digital transformation gives brokers the edge over directs
May 14, 2019 by David GambrillIt’s a common misperception that large direct insurance companies have lots of money to invest in the best, most innovative technology, creating a divide between them and smaller, “have not” brokerages. But digital transformation is actually levelling the playing field…
How ride-sharing insurance on leased vehicles will change in this province
May 13, 2019 by Greg MeckbachLimiting financial risk to firms that lease out vehicles used for ride sharing is one aim of legislation before Ontario law makers. Right now, the Insurance Act has limits on lessors’ vicarious liability but it “does not account for the…
The challenges of assessing seasonal home damage
May 13, 2019 by Adam MalikDespite being told flooding in Ontario’s Cottage Country back in 2013 was one-in-100-years event, area businesses and residents are cleaning up from a second and more widespread flooding incident in less than a decade. Climate is playing a key role…
How far can employee confidentiality agreements go?
May 13, 2019 by Jason ContantIf you leave your brokerage with some confidential information stored to memory as opposed to a physical document, can you use that information? A recent ruling from the Ontario Superior Court of Justice found that even committing to memory confidential…
CU Total Loss Series: Where are the bottlenecks?
May 13, 2019 by David GambrillTotal Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total…
How Fairfax’s Allied World acquisition is working out
May 10, 2019 by Greg MeckbachOld medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based…
Are you prepared for insurance quotes through Google Home and Amazon Echo?
May 10, 2019 by David Gambrill“Google Home, Amazon Echo, buy me auto insurance for my new, black 2019 Hyundai Sontata.” If you are a broker, would you be able to handle this voice request for an auto insurance quote? If not, you’d better start strategizing…
How much will the eastern Canada flooding cost?
May 10, 2019 by Jason ContantTotal economic losses from the recent flooding in Ontario, Quebec and New Brunswick are expected minimally to reach into the hundreds of millions of dollars (U.S.), Aon’s latest catastrophe report said. The flooding event has already been declared a catastrophe…
Will a robot take your insurance job? Probably.
May 9, 2019 by Jason ContantBored of the same-old, same-old? Why not sharpen your pencil and take that dream job as an actuary? According to the Will Robots Take My Job? website, there is only a 21% chance that actuaries will be replaced by artificial…