How a biologist could help insurers with data analytics
September 27, 2018 by Greg MeckbachDo insurers need to hire the brightest computer programmers and pay through the nose if they want to get the most out of data analytics? Not according to some Insurance Analytics Summit Canada speakers. “People from behavioural science, people from…
Insurance lawyer now a Saskatchewan appeal court judge
September 24, 2018 by Greg MeckbachA lawyer who used to represent Saskatchewan’s auto insurer is now a judge with the province’s appeal court, the federal government announced Friday. Robert Leurer represented Saskatchewan Government Insurance on several occasions during the 31 years he practised law for…
Insurer receives 3,000 vehicle damage claims after two sulphuric acid spills
September 16, 2018 by Jason ContantThe Insurance Corporation of British Columbia (ICBC) has received more than 3,000 claims from two sulphuric acid spills in April and May, the public insurer said Wednesday. The Canadian Press reported mining company Teck Resources as saying two spills of…
Intact explores blockchain’s insurance potential
July 29, 2018 by Greg MeckbachOne of the “disruptive promises” of blockchain is the ability to use it for insurance, and Canada’s largest insurer confirmed recently that it is exploring its potential. Thus far, however, blockchain “is still [a research and development] project” at Intact Insurance, Jean-François…
Chris Giffin sells interest in 30 Forensic Engineering, stepping down as CEO
June 18, 2018 by Jason Contant30 Forensic Engineering’s senior leadership team has acquired the firm, the company formerly known as Giffin Koerth announced Monday. As part of the “evolution and growth strategy of the organization,” founding partner Chris Giffin has agreed to sell his interest in…
How fast are standalone cyber premiums growing in Canada?
June 11, 2018 by Jason ContantStandalone cyber insurance premiums in Canada are expected to be worth about $68 million in 2020, an increase at a compound annual growth rate of 15.8% relative to the 2016 estimate, Finaccord said Monday. Alan Leach, director of the London,…
Directors and officers fail to get shareholders class-action tossed out of Ontario court
June 3, 2018 by Greg MeckbachFive former directors and officers of a Vancouver-based mining firm can be sued personally in Ontario by shareholders alleging the firm misrepresented financial statements. The Supreme Court of Canada announced Thursday it will not hear an appeal, from SouthGobi Resources…
Judges at odds on liability of directors and officers in shareholders’ lawsuit
May 7, 2018 by Greg MeckbachA class-action lawsuit by shareholders against five directors and officers of a Vancouver-based coal mining firm may reach the Supreme Court of Canada. Directors and officers are at risk of being sued by shareholders if the company’s share price drops;…
Industry understanding of wildfire risk needs improvement: CEO
April 10, 2018 by Greg MeckbachThe property and casualty insurance industry needs to get a better understanding of wildfire risk in Canada because we will experience more disasters like Fort McMurray in the future, a reinsurance company executive warned Monday. “We think [the industry] needs…
Are you leveraging IoT data?
March 23, 2018 by Jason ContantInsurers may recognize the importance of collecting and mining data, but a recent U.S. study shows few currently have an IoT strategy, are collecting IoT data, or have dedicated resources. LexisNexis Risk Solutions released a white paper Tuesday entitled, Are…
Time has come for national big data strategy
February 5, 2018 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Tech leaders are challenging the federal Liberal government to get serious about reaping the rewards of one of the next big frontiers in the information revolution: big data. Canadian CEOs and academics have been pushing Ottawa for months…
This is what your cyber policies should focus on
February 1, 2018 by Jason ContantBusiness interruption should be the focus of cyber insurance policies nowadays, Lindsey Nelson, international cyber team leader with CFC Underwriting, said to Canadian Underwriter in an interview on Monday. “I think it might be a matter of insurers are really…