The big concern among commercial clients about cyber policies
March 15, 2019 by Greg MeckbachSome commercial clients are looking for more consistency across the industry in cyber policy wording. Survey data shows cyber is the Number 1 hot topic for members of Risk and Insurance Management Society (RIMS) Inc., said Jennifer Goodwin, chair of…
How bad financials can affect your client’s insurance rates
March 15, 2019 by Greg MeckbachDo insurers really care about a client’s balance sheet? A former lawyer who represented The Trump Organization recently suggested clients could get a good rate if the broker could be certain that the client could pay the premium. Brokers contacted…
Top court sides with insurer in unidentified vehicle coverage dispute
March 14, 2019 by Greg MeckbachA Supreme Court of Canada decision released today means Wawanesa Mutual Insurance Company does not have to cover a claimant who says he drove off the road to avoid an oncoming vehicle. Andrew Funk was injured after he drove his…
How recreational cannabis has created numerous challenges for insurers
March 14, 2019 by Greg MeckbachCannabis legalization is making things more complex for auto insurers and increasing risk for some commercial property clients, A.M. Best Company Inc. suggests in a recent report. About 25 insurers, most of whom are non-admitted, provide coverage for cannabis risks…
How your client can save money by detecting plumbing problems
March 13, 2019 by Greg MeckbachCanadian property clients could soon get an insurance discount by installing products from water flow sensing vendor Triple Plus Ltd. Triple Plus recently announced a pilot project in which American clients of Berkshire Hathaway GUARD can get lower property insurance…
Zurich Canada names new head of property
March 11, 2019 by David GambrillYvonne Steiner has been named head of property for Zurich Canada. She will be a member of the Zurich Canada executive team and report to Zurich Canada CEO Saad Mered, effective Apr. 15. “We are very excited to have a…
What hard market in liquor liability means for clients
March 11, 2019 by Greg MeckbachClients planning St. Patrick’s Day celebrations may find themselves short on luck when it comes to insurance coverage. It’s becoming more difficult for clients to get insurance for liquor-related losses with the terms they need, one managing general agent observes.…
What surprises this broker about sports insurance
March 11, 2019 Dan Ralph THE CANADIAN PRESSTORONTO – He has played Canadian university football and coached the game, but Todd Smith is waiting before he lets his two sons get on the field. “I’m not in a rush to put my kids into football just knowing…
How to sell commercial coverage to small businesses
March 8, 2019 by Jason ContantBrokers looking to sell commercial coverage to small businesses need to keep it simple, fast and client-specific, industry professionals told Canadian Underwriter Thursday. Sometimes when buzzwords like artificial intelligence, blockchain and chatbots dominate the conversation, the cart comes before the…
Wildfire catastrophe models need improvement: Reinsurer
March 8, 2019 by Greg MeckbachThe world’s second-largest reinsurer is looking for partners in the artificial intelligence space to help the reinsurer get a better idea of how much insured damage future wildfires could cause. Swiss Re is working with the Massachusetts Institute of technology…
Steps to scale innovation at your company
March 8, 2019 by Jason ContantScaling innovation across a business can be a challenge, as most organizations start innovation in a “pocket, team or lab,” a speaker said late last month at the Insurance-Canada.ca Technology Conference. Simon Chan, head of corporate innovation thought leadership at…
Burns & Wilcox Canada acquires specialty MGA
March 7, 2019 by Jason ContantH.W. Kaufman Group and Burns & Wilcox Canada announced Thursday they have acquired Toronto-based TRU Transportation Risk Underwriters Ltd., a managing general agency with unique transportation expertise. TRU will become part of B&W Canada, a flagship organization of Kaufman and…