Industry
Brokers dealing with claims management should explore ways to hone their client skills in several categories, say business respondents to Canadian Underwriter’s Trusted Advisor 2021 survey. Only 36% of respondents – commercial clients of the brokers – said they were satisfied or very satisfied that their broker “helped me through the claim process to clear […]
By Phil | October 26, 2021
3 min read
Black swans are normally seen as improbable events (the dot-com bubble or 2008 meltdown) affecting the financial industry. But organizations must also consider the black swans that could be swimming among their many risk exposures. “It’s reasonable to expect a loss to occur, but it’s not reasonable to expect a catastrophic loss that would change […]
By Phil | October 25, 2021
Canada’s managing general agent association will unveil a ‘smart and self-regulatory’ regime in early November, the association’s managing director told Canadian Underwriter Monday. “This is something the association has been working on since earlier this year,” Canadian Association of Managing General Agents (CAMGA) managing director Steve Masnyk said. “It’s been a long road as we […]
By Jason Contant | October 25, 2021
Louis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S announced the completion of their acquisition of London, U.K.-based RSA plc. As part of the […]
By Jason Contant | October 22, 2021
PORT ALBERNI, B.C. – The council that advocates for 14 First Nations on Vancouver Island is demanding Transport Canada review the laws, regulations and policies governing harbour activity in Tofino, B.C., after a second float plane crash in less than three months. The Nuu-chah-nulth Tribal Council says in a written statement that the situation is […]
2 min read
Manitoba Public Insurance (MPI) has adjusted its general rate application and is requesting a 1.2% rate decrease along with a $335 million rebate to customers. MPI recently applied to the Manitoba Public Utilities Board (PUB) for a provisional 2.8% rate decrease in Basic insurance premiums for the 2022/23 insurance year. The public auto insurer routinely […]
By Jason Contant | October 21, 2021
Personal auto premium average dropped 2.7% in 2021’s third quarter compared with the same period a year ago but rose 9.4% when compared to second quarter 2021, according to the latest Applied Rating Index, which reports Canada-wide personal auto and property insurance premium trends. For personal property premium, the Q3 2021 average increased 4.9% versus […]
By Phil | October 21, 2021
1 min read
OTTAWA – Business groups in Canada are warning that ending federal pandemic-relief programs too soon could send shock waves through the economy. Cutting off wage and rent subsidies as planned on Saturday will force many businesses to reduce their hours, lay off staff or shut down for good, they say. “It would be absolutely devastating,” […]
Had any insurance coverage requests for an alien abduction or a zombie attack lately? Maybe if you’re a broker in the U.S., but probably not here. “I think in Canada, we don’t get as many ‘out there’ requests because our population is smaller,” says James Turner, team lead at Bryson Insurance. Still, Turner has seen […]
By Jason Contant | October 20, 2021
If your clients are carrying cargo, they should take a comprehensive and layered approach to protecting these goods, a transportation expert from Travelers said recently. This comprehensive approach consists of three layers — good processes, procedures and practices; “hard security” devices such as locks; and technology-tracking devices, said Scott Cornell, national practice leader, transportation, with […]
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