Insurance & Risk, Analysis, Events and Careers
WIARTON, Ont. – Environment Canada is warning that some parts of southwestern Ontario battered by a record-setting weekend snowstorm could see strong winds this morning and into the afternoon. More than a metre of snow has fallen on parts of the Bruce Peninsula since a snowstorm began Thursday night. Now, the agency says the area […]
By Jason Contant | November 21, 2022
1 min read
Ransomware is out, intellectual property data exfiltration is in. At least, that may be the bigger concern for breached companies these days, cyber experts warned in a Gallagher Talks presentation. Organizations are less likely to pay a ransom when their confidential information has been breached, but are increasingly more concerned —and more willing to pay […]
By Alyssa DiSabatino | November 18, 2022
2 min read
As claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George Longo, president and CEO of Excess Underwriting told a recent Gallagher Talks session. “The concept […]
By Phil | November 18, 2022
2 min read
If you slip and fall on ice within 10-15 feet of your car, the car did not cause your fall, so that isn’t an ‘auto accident’ under the Statutory Accident Benefits Schedule (SABS), Ontario’s Licence Appeal Tribunal (LAT) ruled last week. Although this result may seem like a no-brainer to P&C auto insurers, the caselaw […]
By David Gambrill | November 18, 2022
3 min read
Even when faced with the rising cost of living, 82% of Canada’s motorists believe investing in winter tires is important, said a new survey by the Tire and Rubber Association of Canada (TRAC). However, brokers will be interested to know that, while those saying winter tires are a good idea is at a historical high, […]
By Alyssa DiSabatino | November 17, 2022
2 min read
Dating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A consultant. Anyone who’s sold a brokerage will tell you sorting through the initial bids is […]
By Phil | November 17, 2022
3 min read
As the federal government moves to tighten regulations on methane emissions, new assessments suggest the amount of the potent greenhouse gas escaping into the atmosphere has been significantly underestimated. A recent survey of oil and gas facilities in Canada found widespread methane releases. Satellite imagery saw giant plumes of the gas escaping landfills. And published […]
By Jason Contant | November 16, 2022
3 min read
If there’s one supply chain Canada’s insurers would like to see disrupted, it’s the national, $1 billion business of auto theft rings supplying clients, unscrupulous dealers and chop shops with cars and auto parts. Of the $1 billion auto theft business in Canada in 2019, Canadian car insurers paid out an estimated $542 million in […]
By David Gambrill | November 15, 2022
2 min read
Despite 17 quarters of rate increases, insurers return on equity (ROE) is still below target, and these hard market conditions may not be going anywhere for awhile, a Gallagher executive said during an industry webinar. Broker’s clients may be able to mitigate further increases by preparing for their renewals “like never before,” said Ilan Serman, […]
By Alyssa DiSabatino | November 15, 2022
3 min read
OTTAWA – The federal government still hasn’t provided First Nations with the support they need to respond to emergencies such as wildfires and floods despite warnings almost a decade ago, says a new report from Canada’s auditor general. Karen Hogan audited Indigenous Services Canada’s handling of emergency management, concluding the department was too reactive, instead […]
By Jason Contant | November 15, 2022
2 min read