Industry

Lessons learned in a year when strategy changed on the fly

Understanding the relationship between your in-person and online communities is a lesson that one brokerage is taking away after 16 months of change when it comes to marketing and attracting new clients. COVID-19 was declared a global pandemic on March 11, 2020. Soon after, many brokerages had sent employees to work from home. At the […]

By Adam Malik | July 16, 2021

2 min read

Industry

How the cyber threat landscape is evolving

Cyberattacks used to traditionally target specific industry sectors like healthcare, but one cyber insurance writer is now seeing a wide range of sectors in the line of fire. “When you look at our 2020 stats, we see a big difference where it’s not just the financial institutions and healthcare organizations getting hit with claims,” said […]

By Jason Contant | July 16, 2021

3 min read

Industry

Ford issues three safety recalls affecting 42,000 Canadian vehicles

DEARBORN, Mich. – Ford Motor Co. has issued three safety recalls affecting 850,000 vehicles in North America, including nearly 42,000 in Canada. The largest recall involves 775,000 Explorers, including almost 33,000 in Canada, for model years 2013 to 2017. The SUVs may experience a seized cross-axis ball joint that can significantly reduce steering control and […]

By Jason Contant | July 16, 2021

1 min read

Industry

Why construction projects are causing headaches for insurers

Bigger and more complex construction projects — especially those in established communities — are giving property and casualty insurance industry professionals in Canada a collective headache, says an industry expert. Construction projects have increased in complexity in recent times due to their size and where they’re taking place. That’s creating new risks for insurers, according […]

By Adam Malik | July 16, 2021

3 min read

What’s selling hotter than real estate these days? Brokerages

Buyers are paying up to double-digit multiples for Canadian commercial lines property and casualty brokerages, while pricing for smaller retail brokerages has softened, a P&C industry consulting firm has observed. “Some of the prices being paid for larger commercial brokerages have been surprising,” British Columbia-based Smythe Advisory said in its 2021 Property & Casualty Insurance […]

3 min read

Wildfire in Lytton, B.C. a ‘wake-up call’ to take precautions: safety board

A wildfire in Lytton, B.C., during historically high temperatures points to a serious need to prevent similar occurrences, says the chairwoman of the Transportation Safety Board, which is investigating the possibility that a freight train could have been linked to the disaster. Kathy Fox said an update on the investigation will be provided in the […]

4 min read

Do webinars have a future, post-pandemic?

Webinars are here to stay, says a brokerage executive. Many organizations turned to webinars following the onset of the global COVID-19 pandemic in March 2020. It was a way to connect, share information, and maintain a foothold in providing expert opinion and research. But after the pandemic passes, once lockdown restrictions ease and in-person events […]

By Adam Malik | July 14, 2021

2 min read

Existing auto insurance system well-positioned to handle autonomous vehicle claims: Travelers Canada exec

Canada’s existing auto insurance structure is well-positioned to resolve claims and provide fair and timely compensation to accident victims when autonomous vehicles (AVs) are involved in a crash, a Travelers Canada executive said Monday. “The current auto insurance framework is the preferred structure, versus consumers having to recover from their vehicle manufacturer, which could be […]

3 min read

Saskatchewan crews ‘fully engaged’ fighting more than 100 wildfires

Provincial fire crews in Saskatchewan are now fighting more than 100 wildfires in the province. The Saskatchewan Public Safety Agency says hot, dry weather forecast for the rest of the week, along with scattered storms producing lightning, is going to keep driving that number up. The agency says fire crews are now “fully engaged” in […]

1 min read

Regulator orders risk reduction measures for B.C. railways following Lytton fire

Following record heat and a wildfire that burned down about 90% of the village of Lytton, B.C., Canada’s transportation regulator has ordered fire monitoring, suppression, and risk reduction measures for railways to protect against wildfire “in the context of extreme weather conditions.” Hundreds of wildfires have been raging in British Columbia for weeks. This includes […]

4 min read