New bespoke commercial package covers 7 industry segments
September 13, 2018 by Jason ContantCommercial insurance clients in multiple industry segments can now receive tailored core coverages under a single package solution. Core coverages include first and third party cyber, D&O liability, media management crisis costs, event cancellation and currency devaluation. Tailored for seven specific…
The evolution of the commercial broker
August 28, 2018 by David GambrillCommercial insurance brokers will move beyond their sales role in the future and become true advisors on risk, industry executives predict. Signs of a hardening commercial insurance market provide one impetus for brokers to turn to risk advice to add…
Hot opportunity in this Canadian insurance line is linked to M&A
August 24, 2018 by Greg MeckbachRepresentations and warranties (R&W) insurance is becoming a hot market, as commercial clients wonder whether mergers and acquisitions could expose them to unforeseen liabilities. In Canada, the R&W market “has really expanded,” according to Brian Kelly, a Montreal-based managing partner…
Hub’s Top 3 pot risks
August 23, 2018 by Jason ContantAs cannabis comes closer to being legalized in Canada, Hub International told Canadian Underwriter the three major risks the brokerage has faced while writing cannabis insurance for the past four years. One of them is cash-on-hand, meaning pot producers have money…
Why Canada’s railway safety authority is concerned about winter tires on a bus
August 23, 2018 by Greg MeckbachFiguring out which tires should be used in winter is a risk management challenge for many school bus operators, a federal safety organization warned Wednesday. “If school bus operators do not have access to independent and objective assessments of winter…
Hub introduces new cannabis insurance and risk services for Canada
August 15, 2018 by Jason ContantGlobal insurance brokerage Hub International announced Wednesday that it has launched cannabis insurance and risk services for the Canadian market. The offering, under Hub’s agribusiness and farm specialty practice, is also available in the United States. It provides medical and…
Innovation, yes. But don’t forget to manage the risks.
August 10, 2018 by Jason ContantWhile Canadian organizations are investing in emerging technologies and innovation, few of them are managing the associated risks, a report from PwC Canada suggests. Jennifer Johnson, a partner and national financial services leader with PwC Canada, says that when she…
After a seven-year, $33K insurance settlement, claimant disputes his $5K legal bill
August 9, 2018 by David GambrillA seven-year lawsuit against a B.C. insurance brokerage that settled for $33,000 ultimately led to a legal dispute between the claimant and his lawyer over a $5,124 legal bill. The claimant, Larry Jones, sued his insurance brokerage, RHC Insurance Agency…
Canada’s fifth-largest brokerage expands with addition of Paisley-Manor
August 7, 2018 by Jason ContantNational commercial brokerage Navacord Inc. welcomes Toronto-based brokerage Paisley-Manor Insurance Brokers Inc., the third broker partner to join Navacord in 2018. Navacord trades under 10 different broker partner brands throughout Ontario, Alberta and British Columbia. Independent commercial insurance brokerage Paisley-Manor…
How Brexit affects this Canadian tech firm’s risk profile
August 7, 2018 by Greg MeckbachA Canadian software company faces risk and uncertainty because Britain is leaving the European Union. “We face risks associated with the potential uncertainty and disruptions that may follow Brexit,” Open Text Corporation said Aug. 2 in a securities filing. Open…
The next steps to making IBAC Data Exchange a reality
August 3, 2018 by Greg MeckbachBrokers who spend too much time typing information into two different computer systems are getting help from the Insurance Brokers Association of Canada, and IBAC is looking for help on some new working groups. IBAC aims to have some working…
Why Canadian companies need to ‘digitally upskill’ their staff
August 2, 2018 by Jason ContantWhile a majority (85%) of Canadian organizations are investing in emerging technologies, few of them are managing the risks associated with technology, such as cybersecurity threats and lack of talent, a recent PwC Canada report has found. The Full Risk…