M&A tip: how to avoid acquiring a “data lemon”
April 23, 2019 by Jason ContantInsurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and…
Debate rages over whether a cyber attack is an act of war
April 18, 2019 by Jason ContantCan a cyber attack be considered an act of war? That issue came to light in October of 2018 when international food and beverage company Mondelez International sued its insurer Zurich American Insurance Company for declining coverage to Mondelez following…
How Aviva is simplifying its claims process
April 10, 2019 by Jason ContantAviva Canada has worked with provincial regulators to simplify its products and the claims process for customers. “We’ve done that specifically for [accident benefits], where we got a lot of feedback from customers that the forms were confusing, they didn’t…
AXIS Insurance announces new head of claims in Canada
April 4, 2019 by David GambrillAXIS Insurance has appointed Margaret Mede as head of Canada claims, effective immediately. Based in Toronto, Mede will lead a team that handles D&O, E&O, employment, media, cyber, fidelity, and general liability claims brought against Canadian-based insureds. She joins AXIS…
Over half of Ontario cannabis store openings delayed
April 3, 2019 Shawn Jeffords and Armina Ligaya - THE CANADIAN PRESSCustomers lined up at Ontario’s first brick-and-mortar cannabis stores on Monday, but fewer than half of the province’s government-licensed outlets were ready to open. The Progressive Conservative government had planned to have 25 private stores launch on April 1, but…
How to boost sales leads? Turn your AGMs into a fun event
March 22, 2019 by David GambrillPutting the fun back into your annual general meeting could be a great marketing opportunity, leading to more and better sales leads, a Canadian digital marketer told delegates attending the Ontario Mutual Insurance Association’s AGM in Toronto Thursday. To generate…
What ransomware attacks cost your clients
March 21, 2019 by Jason ContantBrokers selling cyber insurance may want to pay attention to a recent statistic: the average financial cost of downtime to a Canadian business following a ransomware attack is 7.5 times higher than the average ransom requested per incident. Canada not…
Poison reports up in wake of cannabis legalization
March 18, 2019 THE CANADIAN PRESSHALIFAX – Atlantic Canada’s largest children’s hospital is warning parents about the risks of edible weed after a flood of cannabis-related calls to its poison centre. The IWK Health Centre says it fielded three times as many cannabis calls to…
What this direct writer learned by starting up its own broker channel
March 14, 2019 by David GambrillWe’ve all heard about multi-channel insurance companies that sell through the broker channel while at the same time beefing up their direct channel. But how about CAA Insurance, a direct writer that has become a multi-channel writer by building up…
How recreational cannabis has created numerous challenges for insurers
March 14, 2019 by Greg MeckbachCannabis legalization is making things more complex for auto insurers and increasing risk for some commercial property clients, A.M. Best Company Inc. suggests in a recent report. About 25 insurers, most of whom are non-admitted, provide coverage for cannabis risks…
What insurtechs can learn from hackathons
March 13, 2019 by Greg MeckbachEditor’s Note: This article has been updated. A previous version incorrectly stated that duuo was launched at Slice Labs’ launch studio in Toronto. CU apologizes for the error. If you want to develop a new digital insurance product, it shouldn’t…
Institute serves up a new look to insurance education
March 12, 2019 by David GambrillPerhaps you have noticed something different lately about some of the course materials for your Chartered Insurance Professional (CIP) designation? If you open up your new textbook for the CIP course, Underwriting Essentials, for example, you will notice something new…