Why clients need advice on ‘litigation hot spots’
October 21, 2018 by Greg MeckbachCommercial brokers advising Canadian clients with operations in foreign countries need to understand consumer protection and pollution laws in those countries. “It’s up to a broker to make sure that he or she is well versed in what those countries’…
Brokers need to intensify lobby on auto file: Intact president
October 18, 2018 by David GambrillFacing an imminent hard market in auto insurance lines, brokers need to intensify their lobbying efforts to inform Ontario MPPs about the pricing issues associated with the auto insurance product, a senior executive of Canada’s largest insurer told brokers Thursday.…
Crawford’s Top 3 claim loss predictions from marijuana legalization
October 18, 2018 by Jason ContantClaims adjuster Crawford & Company (Canada) Inc. sees auto, commercial and workplace-related losses as the Top 3 claims arising from the legalization of marijuana. Auto losses related to cannabis usage; commercial losses to cannabis producers, retailers and distributors; and employee…
How brokers should define cyber to clients
October 16, 2018 by Jason ContantCyber insurance needs to be explained using plain language, rather than by “insurance people using insurance-isms,” a large cyber underwriter said recently. “Part of the problem with cyber is the fact that it’s called cyber,” said Andy Holmes, chief underwriter…
How to carve out more time to advise your small business clients
October 14, 2018 by Greg MeckbachSmall business clients want to spend less time filling out insurance application forms and more time getting advice from their brokers, an insurance technology expert says. “Unlike personal insurance, where there is more propensity to go direct, small business owners…
Why commercial property claims could skyrocket after pot legalization
October 11, 2018 by David GambrillLarge-severity commercial property losses could be the upshot of the legalization of marijuana on Oct. 17, an insurance lawyer cautions. “I see there being more property loss-type claims coming out of these large [marijuana-growing] facilities, particularly the greenhouse facilities,” Aaron…
New Allianz head of global liability has Canadian roots
October 10, 2018 by Greg MeckbachCiara Brady, who previously worked in Toronto for both Swiss Re and Chubb, becomes head of global liability for Allianz Global Corporate and Specialty effective Jan. 1, AGCS announced Tuesday. Brady will work out of Zurich and succeed Michael Hohmann…
How to take better advantage of data science
October 9, 2018 by Jason ContantCorporate leaders are becoming convinced of the wide-ranging impact that effective data collection can have on the bottom line, and insurance companies and brokerages are no exception. This impact can be felt across the organization, from tracking daily reports against…
The common commercial property exclusion one carrier is addressing
October 9, 2018 by Greg MeckbachRadioactive contamination and extended business interruption are among the new products that brokers can offer Canadian manufacturers later this fall, The Sovereign General Insurance Company announced. Nuclear risks are normally not included in property and casualty insurance policies, though some…
Will higher interest rates kick-start M&A?
September 26, 2018 by Jason ContantWhat impact do rising interest rates have on P&C companies conducting mergers and acquisitions? We’re about to find out, as the Bank of Canada is widely expected to raise the interest rate target at an Oct. 24 rate announcement. “The…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
Why brokers should ‘shoot the breeze’ with clients
September 25, 2018 by Greg MeckbachWhile brokers communicate with clients for a variety of reasons, such as renewals and claims, “shooting the breeze” can be just as beneficial for the business, suggests a speaker scheduled to address next month’s Insurance Brokers Association of Ontario annual…