Industry

B.C. seeks forfeiture of $2.8M condo owned by alleged COVID-19 violator

VICTORIA – A civil action has been filed in British Columbia Supreme Court that could see the owner of a condo in Vancouver stripped of his property after allegedly violating COVID-19 restrictions. The director of civil forfeiture filed the claim last week against Mohammad Movassaghi. A notice of civil claim alleges the penthouse apartment is […]

By Jason Contant | October 19, 2021

2 min read

Digital service expansion a delicate balancing act

Successful brokers must balance surging demand for online digital services with a clear recognition that clients want to maintain a strong human connection. “If you force all your clients to go to in-person and on-phone service, you are cutting out a massive percentage of the population. And if you make everybody go through your chatbot […]

By Melissa Shin | October 19, 2021

3 min read

Is it time for a public-private partnership for cyber risk?

There will be a point at which a cyber tail event will be too expensive for the insurance industry, as a whole, to cover, a speaker said Thursday during the CatIQ Connect virtual conference. “That’s where we are already starting to think about, ‘Okay, what happens in this instance?’” said Dr. Rachel Anne Carter, director […]

By Jason Contant | October 18, 2021

3 min read

How much are reinsurers underestimating climate change risk?

Global reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings.  “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate risk — could be underestimated by 33%-50%, which is 91% of the sector’s buffer above […]

By Jason Contant | October 18, 2021

3 min read