Preparing in advance for how a cyber-related business interruption loss may play out can help transform the claims process, speakers said earlier this month at NetDiligence’s Cyber Risk Summit in Toronto. A lot of the “claims frustration” can be avoided…
Brokers 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…
Parametric insurance can help fill a gap in some policies by covering non-damage business interruption, a speaker said Tuesday at AXA XL’s Fast Forward LIVE event in downtown Toronto. Caused by a variety of factors, including severe weather conditions, non-damage…
Speed is one of the main benefits of parametric insurance compared to traditional forms of insurance, with the underwriting process taking just several days to two weeks, speakers from AXA Global Parametrics in France said Tuesday. Parametrics is index-based insurance,…
Marilyn Horrick, a former executive with The Guarantee Company of North America, is now executive vice president and chief operating officer of MSA Research Inc. The appointment took effect Friday. Toronto-based MSA’s reports include financial information on most of Canada’s…
Consolidation could potentially wind up regenerating Canada’s broker channel generally and managing general agents (MGA) specifically, a senior executive told delegates attending the 2018 MGA Symposium in Toronto on Tuesday. Organized by insurance-canada.ca, the event featured a panel of MGA…
TORONTO – Canada Post publicly admitted to a privacy breach involving thousands of Ontario’s online cannabis customers on Wednesday after the province’s only outlet for legal recreational marijuana notified clients of the problem. The postal service said in a statement…
As the hype around blockchain continues and it looks increasingly like the technology is here to stay, insurers are taking a closer look and seeking to create coverages to respond to this evolving market. Blockchain currently has a variety of…
As the U.S. Commerce Department contemplates imposing a 25 per cent tariff on all vehicles imported into the United States, including vehicles from Canada, risk managers are starting to contemplate where all of this heightened rhetoric around protectionism may take…
Look for consolidation to continue within the Canadian property and casualty insurance industry, senior industry executives predicted at a recent conference. Also, expect insurers to take on a greater role in distributing the products. Speaking about consolidation, Adam Mitchell, the…
Usage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers…
The spectre of a Netflix-esque disruption of the property and casualty insurance sector is producing mixed reaction among Canadian executives. The Canadian P&C sector “may be” disrupted in a manner similar to how Netflix disrupted the movie rental industry or…