1 Commercial insurance brokerage Nacora Canada announced in August the appointment of Dianna Fioravanti  as its new chief executive officer and managing director. Fioravanti was previously senior vice president of national sales and business development, for SCM Risk Management…
How this legal doctrine impacts the sharing of defence costs between primary and excess insurers.
Cyber insurance coverage is entering the next phase in its evolution from optional add-on product to increasingly important component of a thorough risk management program. As high-profile data security breaches grab top headlines, more organizations are having the “cyber talk” with their brokers and insurance partners. The pace of product adoption, however, is slow grind rather than big bang.
Cyber risks are here – and growing. As technologies become more ubiquitous, cyber risks and the need to protect against these have become increasingly important regardless of an organization’s size, sector or specific offerings.
Looking beyond “non-admitted prohibited,” it is time to focus on how risk is “exported.” Brokers and insurers eager to ensure their clients are in compliance with multinational insurance have traditionally asked whether non-admitted or “unlicensed” insurance is permitted or prohibited in any given country. This is a starting point, but failing to move beyond that point may miss the key part of the analysis.
CANADIAN MARKET Net income up, loss ratios down Financial results for the Canadian property and casualty insurance sector improved during the first six months of 2012 improved over the same period in 2011, new figures from MSA Research Inc. show.…
Hydraulic fracturing (or “fracking”), a process used in natural gas extraction, is raising a lot of questions about long-term environmental risks. Among these questions is whether or not existing insurance programs are up to the task of covering the risk. Some view the area as full of potential for innovative approaches to covering this type of exposure.
Canadian corporations are taking a second look at captives, which can offer a number of creative opportunities for furthering an organization’s business objectives.
I would like to comment on the March 2012 Canadian Underwriter article entitled, ‘How Much is Enough?’ When I look at the question, I want to add: “…to avoid underinsurance and a possible broker E&O claim.” The possibility of an…
The Tax Information Exchange Agreement (TIEA) has immediately reduced the cost for Canadian companies to gain access to cutting-edge risk management products from Bermuda’s insurance centre.
Canada no longer seems insulated from global catastrophes that have shrunk the reinsurers’ pool of capital worldwide over the past two quarters. As a result, primary insurers in Canada may be looking at reinsurance rate increases as of Jan. 1, 2012 renewal season.
Amendments to the federal Bank Act would prohibit banks from selling or promoting insurance on their bank Web sites. This is an extension of the same regulatory regime that applies to banks’ bricks-and-mortar branches. The new online prohibition is an election away from being enacted, representing a victory for consumer protection, brokers say.