Tino Brambilla, this year’s recipient of the Donald M. Stuart Award, knows full well that loss can be transformed into life-long gains.
Refusing to insure substandard properties and advising clients on climate change are just two of the things insurers can do to help the industry better understand the issue, Environment Canada’s senior climatologist said on Friday at the National Insurance Conference…
Flooding in Japan has forced the evacuation of approximately 860,000 people north and east of Tokyo, and about 100,000 people were ordered from their homes, AIR Worldwide reported on Thursday. Torrential rainfall during the last several days – exacerbated by…
There is no getting away from water in Canada’s property and casualty insurance industry. Protection is available for much of the damage that water can do on the residential side, but not all. Will the overland flooding options now becoming available help cap the flow or will leaks in coverage remain? And what might this evolving environment mean for insurers and reinsurers alike?
As ever, insurance brokers across the country are grappling with a wide variety of issues. Some issues are ongoing while some are emerging; some are regional while others are country-wide. The one constant is the need for brokers to continue to act as trusted advisors and to provide sound advice so that customers know the risks, understand coverage and have access to a wide choice of products.
With the increase in water-related events, insurers have responded in a number of ways, including by introducing higher premiums and exclusions. Consumers must take steps to ensure they are prepared and to seek out advice that will help them mitigate losses should an adverse event occur.
The Institute for Catastrophic Loss Reduction celebrates leadership amongst Canadian cities in its latest publication.
While not every organization has launched enterprise risk management (ERM), there is growing awareness of its value among risk managers who recognize essential elements must be identified to reach a core understanding of the challenges their respective organizations face.
REINSURANCE New approach to mitigating, preparing for floods needed: Zurich “There is a need for a radical rethink on the approach to mitigating and preparing for floods,” says Mike Kerner, chief executive office of general insurance at Zurich Insurance Group.…
Insurers have certainly noticed the high toll that increasingly severe and frequent bad weather is having – and policyholders are likely to soon follow. The circumstances make it clear that insurers, brokers, customers, lawmakers and other groups all must work together to mitigate (or prevent) damaging effects.
A mix of environmental, economic and sociological pieces make up a costly puzzle when it comes to water damage risk and the potential effect on Canadian property insurance pricing.
Auto insurance, severe weather, profitability and interest rates were among the topics discussed at CW Consulting’s Crystal Ball in January. Among other issues, industry executives explained why the data gleaned from their telematics devices identify them as bad drivers.