A captive insurance solution is designed for long-term risks, so a client looking to set something up for short-term risks may end up regretting that decision, experts warned during a recent Canadian Underwriter webinar. When a company sets up a…
Interest in captives naturally increases as a hard market intensifies, but now even mid-market or smaller organizations are considering captives as an alternate way to transfer risk, panellists of a Canadian Underwriter webinar observed Monday. “Traditionally, when you think of…
Shrinking capacity arising from hard market conditions in many commercial lines have created a favourable environment for self-insuring through captives, senior Canadian executives will propose in a live webinar hosted Monday at noon ET by Canadian Underwriter. Scheduled panellists include…
The corporate parent of Northbridge Insurance has formed its own anti-racism committee and joined a new Canadian organization that aims to create opportunities for visible minorities and indigenous people in the industry. “We have formed a Black Initiatives Action Committee,”…
Although some commercial clients may start “suing everybody” because their business interruption insurance did not cover income lost during the pandemic, brokers could not have obtained broad-scale pandemic coverage for all clients even if they wanted to because the exposure…
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Aviva Canada is using short message service (SMS), or texting, to communicate with customers, a technology on which it was focusing before building mobile apps. “We are already texting to our customers today,” Bryant Vernon, Aviva Canada’s chief claims officer,…
When it comes to the Canadian P&C industry offering digital solutions to its customers during the COVID-19 pandemic, it seemed that the virtual landscape was a Brave New World just four months ago. Digital mailboxes, videoconferencing, electronic pink slips and…
If your clients are accused of failing to warn shareholders of the impact of COVID-19, their directors and officers could have liability exposure, experts from Marsh suggest. Generally speaking, directors and officers tend to have the same liability exposure as…
Will your business get interrupted because people working from home due to COVID-19 cannot log into their computer systems? “If you are asking staff to work from home, make sure that the technology systems to enable them to do that can…
Insurance leaders are aware they’re not moving fast enough to keep up with change, be it around technological or customer expectations. But, as they said at a recent summit, they have no choice but to figure it out. For Pat…
While it feels like cyber threats have been around for some time, they’re still at the top of the list of emerging and ongoing risks for some industry professionals. But there are others that are grabbing the attention of insurance…