Here’s how to hack your culture
June 17, 2019 by Adam MalikKeep it simple. Take small bites. Don’t put your career at risk. With that as a starting point, insurance companies can start to hack their culture, said Richard Natale, senior director analyst at research and advisory firm Gartner during its…
The other technology risk that’s keeping clients up at night
June 17, 2019 by Greg MeckbachIf you place commercial insurance, you probably have clients who are very concerned about the risk of making large investments in information technology projects. “The failure rate of IT projects is quite high and the returns are often not what…
CatIQ acquired by Switzerland-based PERILS
June 17, 2019 by Jason ContantZurich, Switzerland-based PERILS AG announced Monday that it has acquired Catastrophe Indices & Quantification Inc. (CatIQ). Established in 2014, CatIQ is widely recognized as the most reliable source of catastrophe loss and exposure information in Canada. PERILS, a subsidiary of…
How this cyber breach defendant got a six-figure cost award
June 13, 2019 by Greg MeckbachDefendants who won a class-action lawsuit were recently awarded $166,000 to reimburse them for legal costs, but the plaintiffs are appealing. Casino Rama, located near Orillia, Ont. was the target of a cyber breach in 2016 by an unknown criminal.…
No ‘silver bullet’ for bus passenger safety: Commons committee
June 13, 2019 Teresa Wright - THE CANADIAN PRESSOTTAWA – A committee of MPs who probed bus-passenger safety in Canada has decided not to call for seatbelts to be installed in Canadian school buses, urging further study instead. The House of Commons transportation committee launched an investigation into…
This social media risk lacks a mainstream insurance product
June 12, 2019 by Greg MeckbachWant to place insurance that covers a client whose revenue suddenly plummets because of a disinformation campaign? This might be easier said than done, but one commercial insurer with a Canadian branch is hoping to change this. Right now, there…
FSRA takes over Ontario insurance oversight from FSCO
June 11, 2019 by Greg MeckbachOntario’s new property and casualty insurance regulator is up and running. Effective June 8, the Financial Services Regulatory Authority of Ontario (FSRA) took over regulatory duties from both the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation…
Should cyber insurance products become more standardized?
June 10, 2019 by Jason ContantHow far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There…
Aviva Canada names new CEO
June 7, 2019 by Jason ContantJason Storah will become the new CEO of Aviva Canada on July 1, the company announced Friday. Colm Holmes, who took the helm as CEO of Aviva Canada in March 2018, will return to London, U.K., where he will assume…
Is your client covered from business interruption arising from terrorism?
June 6, 2019 by Greg MeckbachWhat if a terrorist attack interrupts your client’s business, but causes no actual injuries or damage to that client? Some insurers today are covering non-damage costs and loss of attraction. This could come into play if there is a terrorist…
Welcome to the new era of online flood maps
June 6, 2019 by Greg MeckbachThe organization responsible for flood risk mitigation in and near Kitchener, Ont. is contemplating enabling online access to maps that would let some clients see whether they are in a high-risk flood zone. For the Grand River Conservation Authority (GRCA),…
How an insurtech uses pre-fill data to a homeowner’s best advantage
June 6, 2019 by Jason ContantOne insurtech based in the United States is pre-filling data in home insurance application forms to help answer questions that customers may not be able to answer themselves. California-based home insurance company Hippo Insurance uses trusted public data sources like…