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Help your client overcome the stigma of the “breach” word

April 23, 2019 by Greg Meckbach

Managing cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’”

News InsuranceMarkets / Coverages

Is the industry taking a consistent approach to overland flood coverage?

April 23, 2019 by Jason Contant

Are carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup

News RiskTechnology

Should your clients have a chief security officer on the board?

April 17, 2019 by Greg Meckbach

Your client may or may not not need a chief security officer [CSO] on its board of directors, but cyber risk should nevertheless be high on its radar screen, speakers told insurance professionals Tuesday. “If the board doesn’t say, ‘Cyber

News InsuranceTechnology

Cyber pricing: Have carriers got it right?

April 17, 2019 by Greg Meckbach

Cyber insurance is a good tool to help clients understand their vulnerabilities, but carriers need to do a better job of pricing according to risk, speakers suggested at a recent conference. “There seems to be a lot of spit-balling on

News InsuranceTechnology

The limits of artificial intelligence in insurance

April 11, 2019 by Greg Meckbach

Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement

News BrokersInsurance

Why brokers need to take ownership of data

April 11, 2019 by Jason Contant

Brokers need to take ownership of the data they collect to personalize and improve the customer experience, a speaker suggested Tuesday at the CIP Symposium in downtown Toronto. “For the brokers in the room, how does your client feel if

News ClaimsRisk

The liability risk from climate change

April 9, 2019 by Greg Meckbach

Large companies face liability risk if they emit greenhouse gas emissions, and shareholders are asking directors and officers what they are doing about climate-related risks, a speaker suggested at a recent insurance conference in Toronto. Panelists at the Property and

News RiskTechnology

The downside risk of machine learning

April 8, 2019 by Greg Meckbach

Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying

News Catastrophes

Some earthquake deductibles too high: IBC

April 5, 2019 by Greg Meckbach

Brokers are telling the Insurance Bureau of Canada that for some homeowner clients, the deductible on earthquake coverage is so high that the clients could still end up broke after a major tremor. “Right now, the deductible on some of

News InsuranceTechnology

The case for scaling intelligent automation technologies

April 2, 2019 by Jason Contant

There is a direct correlation between scalability of intelligent automation (IA) technologies and financial performance, a new KPMG International study has found. Based on a survey of nearly 600 business leaders (including 100 top-level executives) across 13 countries, including Canada,

News BrokersInsuranceMergers and Aqcuisitions

Hub acquires personal and commercial lines brokerage in Alberta

April 2, 2019 by Jason Contant

Hub International announced Tuesday it has acquired Del Fisher Insurance, an independent brokerage offering personal and commercial lines. Based in Calgary, Del Fisher Insurance has provided personal and commercial insurance solutions, including home, auto, business and contract bonding to area

News InsuranceMarkets / CoveragesRiskTechnology

How sports hazing and abuse affects insurers

March 26, 2019 by Jason Contant

There seems to be no shortage of hazing and abuse incidents in the news lately. Earlier this month, a Miami University student was allegedly hit “with a paddle with spikes and grooves,” forced to drink large amounts of alcohol and