If the Lloyd’s insurance business model is going to survive, it needs to adapt to today’s digitized world, suggests the chief executive officer of a large global insurer. “The Lloyd’s marketplace is important to the industry but it has longer…
Who are the brightest young talents in Canadian P&C today? Each year, Canadian Insurance Top Broker magazine (recently acquired by CU) answers that question with its Top 10 Under 40. Meet the other winners here, and don’t forget to pick…
Lawsuits arising from corporate mergers and acquisitions and “creative theories of liability” are reducing Chubb Limited’s appetite to insure directors’ and officers’ liability. Since 2016, there has been an increase in the frequency of lawsuits against directors and officers, said…
Canadian employees in the insurance industry are about 13% more likely to work remotely than office workers in the United States. One in five U.S. office workers work remotely now, the New York Post reported last week. By contrast, more…
If your mid or large-sized commercial clients are involved in mergers and acquisitions, there are risks involved and insurance to address those risks, but it’s not like selling fire insurance. “It is not a simple case of saying, ‘Fill out…
Jeff Goy elected chairman of Insurance Institute’s board of governors The Insurance Institute of Canada has elected S.J. (Jeff) Goy, president and CEO of Wawanesa Mutual Insurance Company, as chairman of its board of governors. Goy was elected chairman at…
Aviva Canada is considering whether to seek leave to appeal to the Supreme Court of Canada after the New Brunswick Court of Appeal ruled last week that the insurer must pay a Catholic diocese about $3.4 million towards costs of…
Small business clients gravitate to cyber insurance not for the insurance, per se, but for the accompanying services following an incident, a cyber underwriter said recently. “If you think about it in the context of car insurance, they’re buying their…
Cyber insurance needs to be explained using plain language, rather than by “insurance people using insurance-isms,” a large cyber underwriter said recently. “Part of the problem with cyber is the fact that it’s called cyber,” said Andy Holmes, chief underwriter…
Brokers scoping out new leads for selling cyber should consider this new opportunity in the professional class: real estate agents. Real estate agents move large sums of money when houses are selling. There is also typically a time cluster when…
Brokers in Canada have a technology platform available that allows them to customize different insurance coverages, or offer next-day service, through a self-serve app. The app provides a base quote for a customer. The broker can then use sliders to…
National brokerage A.P. Reid Insurance Limited has announced its intention to acquire Wardell Insurance Limited effective Jan. 1, 2019. Following the completion of the transaction, Wardell’s Burlington, Ont. office and A.P. Reid’s office in nearby Waterdown, Ont. will merge into…