Legal victory for insurers, as appeal court upholds waivers
April 7, 2018 by Greg MeckbachA recent Court of Appeal for Ontario ruling is “great news” for insurers of sports and recreations clients, such as ski resorts, paintball, and dirt biking, a lawyer told Canadian Underwriter Thursday. In a decision released March 28, the court…
Chubb takes stand on sacrificing market share to maintain underwriting profit
April 7, 2018 by Greg MeckbachChubb Ltd. is willing to lose customers if they are not willing to pay higher prices for insurance. “We sacrifice market share (though not happily) in order to maintain an underwriting profit,” Evan Greenberg, chairman and CEO of Chubb Ltd.,…
Why McFarlan Rowlands acquired DA Kurt Insurance Brokers
April 3, 2018 by Jason ContantGeographic and cultural fit drove London, Ont.-based McFarlan Rowlands‘s decision to acquire DA Kurt Insurance Brokers of Kitchener, Ont., McFarlan told Canadian Underwriter. The deal is expected to close on April 30. “The DA Kurt team prides themselves on providing…
Canadian P&C people on the move
March 28, 2018 by Jason ContantTwo new staff members join adjusting firm Claims adjusting firm Kernaghan Adjusters said Monday it has relocated its Whistler, B.C. operation and welcomed two new staff members. Michael Unger will be Sea to Sky manager and executive adjuster. He brings…
Now with AI, you can create value for your property inspections
March 26, 2018 by David GambrillArtificial intelligence can now surgically identify Canadian homes and businesses in an insurer’s book that are most in need of inspection, thereby eliminating unnecessary home inspection orders. “Sometimes the industry will pay to have an inspection done based on criteria…
How to build a best-in-class cyber risk plan
March 23, 2018 by David GambrillYour commercial client is looking to put together a best-in-class risk management plan for dealing with a cyber event. What’s the first thing they need to do? “An ideal plan starts with developing a team,” says Ruby Rai, manager of…
How Canada’s data breach reporting law can help brokers sell cyber based on facts, not fear
March 22, 2018 by David GambrillCanada’s forthcoming implementation of mandatory data breach reporting may create an opportunity for the country’s commercial brokers to have conversations with their clients about cyber insurance risk based on concrete data instead of fear, a Marsh Canada broker says. Improved…
For taxi drivers, mum’s the word on reporting losses
March 21, 2018 by David GambrillTaxi cab companies and drivers are not reporting losses promptly (or at all), thereby escalating taxi insurers’ claims costs in Newfoundland and Labrador, according to a taxi claims review submitted to the province’s Public Utilities Board. “The factor identified by…
The meeting that every risk manager should have
March 6, 2018 by Greg MeckbachRisk managers concerned about insurance exclusions should consider asking their brokers to brief senior managers explaining what exactly the insurance covers and what it excludes, a Willis Towers Watson executive advises. Steve Sachs, co-chair of the Willis Towers Watson Real…
Speak the language of senior execs, risk managers advised
March 6, 2018 by Greg MeckbachSuccessful risk managers know how to speak the language of senior executives, which is much different than the language of their peers, say two presenters scheduled to speak at next month’s RIMS conference in San Antonio. “Risk managers, when they…
Aviva combines multiple business segments into one commercial policy
March 6, 2018 by Jason ContantAviva Canada has launched a new commercial product that allows a company’s different business operations to be included on one policy. This consolidation is intended to make it easier for brokers to offer limits and extensions for different segments. In…
Putting the brakes on
March 1, 2018 Emily Atkins, EditorThe second in our two-part series looking at structural problems in Ontario’s and BC’s auto insurance systems.