Why your clients may not be covered when there’s an active wildfire
May 21, 2019 by Jason ContantWith wildfire season already underway in Alberta and British Columbia, brokers will be looking at how insurance can help their clients mitigate any losses. But brokers and clients alike may not know that the ability to bind coverage could be…
Why rewards programs are a new cyber threat
May 21, 2019 by Jason ContantIf your client offers loyalty and rewards programs, they may want to keep a closer eye on securing these “non-traditional risk points” from cyber criminals. Earlier this year, several McDonald’s customers in Canada complained that criminals had breached their accounts…
Fairfax chief financial officer died suddenly
May 21, 2019 by Greg MeckbachDavid Bonham, chief financial officer of Fairfax Financial Holdings Ltd., died suddenly this past weekend, the Toronto-based company announced Tuesday. Fairfax is the corporate owner of Northbridge Insurance and several international property and casualty insurers, including OdysseyRe, Brit PLC, Allied…
How this type of client is reducing fraud risk
May 17, 2019 by Greg MeckbachBiometrics and two-factor authentication will become more popular tactics for mitigating cyber crime risk, a British Columbia credit union executive predicts. “I feel like I do a lot of biometrics,” said Marilyn Mauritz, chief transformation and governance officer at Vancouver-based…
Brokers await regulations on bank fintech changes
May 17, 2019 by Jason ContantAs the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018,…
Allstate Canada debuts telematics app
May 16, 2019 by Jason ContantAllstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other…
Flexible schedule tops list of summer wants
May 14, 2019 by Adam MalikWhen it comes to summer perks, Canadian employees want their bosses to give them a more flexible schedule. Almost half (49%) of the 400 respondents to a survey from staffing firm Accountemps said they wanted more opportunities to work from…
How ride-sharing insurance on leased vehicles will change in this province
May 13, 2019 by Greg MeckbachLimiting financial risk to firms that lease out vehicles used for ride sharing is one aim of legislation before Ontario law makers. Right now, the Insurance Act has limits on lessors’ vicarious liability but it “does not account for the…
CU Total Loss Series: Where are the bottlenecks?
May 13, 2019 by David GambrillTotal Loss Series, Part 2: Bottlenecks Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total…
How should employers treat recreational marijuana use?
May 9, 2019 by Jason ContantEmployers should treat marijuana use in the workplace as they would alcohol use, a senior claims professional told Canadian Underwriter Monday. “All of the liability still exists,” said Heather Matthews, senior vice president of Crawford & Company (Canada)’s National Claims…
ICBC plants seed for online auto renewals
May 8, 2019 by Adam MalikA day many British Columbia policyholders have been calling for finally appears to be on the horizon. But it may force some brokers to change how they do business. While hosting an AMA (ask me anything) session on popular social…
Is sinkhole damage covered under a standard home insurance policy?
May 7, 2019 by Jason ContantEditor’s Note: This story has been edited to include additional comments. Is damage from a sinkhole covered under a standard homeowner’s policy? “Earth movement” is typically excluded under a standard policy, but an earthquake endorsement may provide coverage. The…