2018 Outlook: Ulrich Kadow, Chief Agent of Canada, Allianz Global Corporate & Specialty Americas
December 29, 2017 Ulrich KadowAcross all markets, including Canada, pricing levels are generally at historic lows, which in many cases are well below technical pricing recommendations. Globally, recent natural catastrophes have highlighted the increasing frequency and potential severity of major events, potentially leading to…
P&C People: Who’s doing what
December 21, 2017 by Canadian UnderwriterNew CEO for Manitoba Public Insurance The Government of Manitoba has announced that Benjamin Graham will become the new president and CEO of Manitoba Public Insurance (MPI), effective Feb. 1, 2018. Manitoba Premier Brian Pallister made the announcement in a…
The insurance industry’s challenge in recruiting forensic engineers
December 8, 2017 Greg Meckbach, Associate EditorThe challenge for the property and casualty insurance industry in recruiting young engineers is that engineers generally want to make things instead of figuring out why things crashed or burned. “We have had a challenging time servicing our clients in…
Are Canada’s risk managers compensated for wearing many hats?
December 5, 2017 Jason Contant, Online EditorMore than six in 10 (63% of) risk management professionals in the United States and Canada reported performing functions in addition to risk management in their organizations, according to RIMS’ 2017 Risk Management Compensation Survey. One reason why is because…
What’s keeping risk managers up at night?
November 27, 2017 Jason Contant, Online EditorDarius Delon, a consultant and president of Risk Management 101, told Canadian Underwriter Monday what he sees as the top concerns for risk managers. Here are his Top 3 risks: Number 1: Awareness about legislative changes In some instances, organizations…
Fraudulent e-mail a ‘real big deal’ in cyber risk
November 16, 2017 Greg Meckbach, Associate EditorThere is plenty of competition in the cyber insurance market but placing a cyber product suitable for a client “can be a challenge” because different insurers offer different products, the author of a recent report suggested Thursday. International Risk Management…
New policy designed to simplify cyber risk management
November 14, 2017 by Canadian UnderwriterBerkshire Hathaway Specialty Insurance (BHSI) has launched a cyber insurance product in Canada that combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions. “Our new policy simplifies the complex endeavour of managing…
Navacord welcomes Toole Peet Insurance of Calgary as new broker partner
November 9, 2017 by Canadian UnderwriterNavacord Inc. is welcoming its new broker partner, Calgary-based brokerage Toole Peet Insurance. The partnership expands Navacord’s connections “even further with entrepreneurial insurance brokers across Canada,” the insurance and risk management brokerage said in a press release on Nov. 3.…
Supreme Court of Canada hears surety bond dispute
November 8, 2017 by Canadian UnderwriterA construction subcontractor that was not fully paid and whose claim on a surety bond was denied had its case heard Tuesday before the Supreme Court of Canada. In 2009, Langford Electric Ltd. subcontracted directional drilling work to Valard Construction…
Moving dangerous product by rail continues to be popular, despite Lac-Mégantic disaster: speaker
November 6, 2017 Jason Contant, Online EditorDespite the Lac-Mégantic train derailment in July 2013 that claimed the lives of 47 people, destroyed more than 30 buildings and released about 6.3 million litres of oil into the environment, “moving any type of dangerous product by rail continues…
Claims costs in oil and gas industry increasing despite downturn: forum speaker
November 2, 2017 Jason Contant, Online EditorDespite the downturn in the oil and gas industry, claims costs are increasing, a speaker said on Thursday at the Canadian Risk and Insurance Education Forum. “I would suggest that in the upstream oil and gas industry – where most…
Underlying revenue up 3% at Marsh
October 31, 2017 by Canadian UnderwriterMarsh & McLennan Companies Inc. recently announced a 9% increase in revenue at its commercial brokerage subsidiary while total risk and insurance services revenue increased from $1.632 billion in the third quarter of 2016 to $1.752 billion in the three months…