Industry
Allianz Holdings plc has named Colm Holmes, currently CEO of Aviva General Insurance in the United Kingdom, as its new CEO, effective at the end of November 2021. Holmes will be a familiar name to anyone who had dealings with Aviva Canada between March 2018 and June 2019, when Holmes was the CEO of Aviva […]
By David Gambrill | May 26, 2021
2 min read
One cybercriminal recently mused online that hackers are incentivized to launch cyberattacks because companies have cyber insurance coverage, a theory recently debunked by cyber insurance experts. The cybercriminal’s rationale? Since insurance exists for the victims, the hackers will be paid. But there is a fatal flaw to that theory, cyber experts observed during a recent […]
By Adam Malik | May 26, 2021
3 min read
As insurers and brokers increase their efforts to go digital, consumers still say they want an omni-channel and personalized experience, according to Ipsos survey results of more than 13,000 Canadian adults. “The preference to buy directly from the [insurance] company rather than using a broker is prevalent in the purchase phase, and later, the website […]
By Jason Contant | May 26, 2021
Many commercial clients are “hurting” because of COVID-19, but once the pandemic is over, small businesses currently under lockdown could see their insurance rates rise, Intact Financial Corp. executives suggest. “The biggest difference between the environment in which we operate and the post-pandemic environment is [in] the lines of business where there are gaps in […]
By Greg Meckbach | May 26, 2021
The Trial Lawyers Association of British Columbia is asking Canada’s top court to essentially make a “new law” barring a liability insurer from taking an off-coverage position after starting to defend a tort claim if the insurer previously had “presumed knowledge” — as opposed to actual knowledge — of a policy breach. On May 17, […]
By Greg Meckbach | May 25, 2021
5 min read
More than one year into the COVID-19 pandemic, there has been a massive, “overnight” shift in employers’ appetite towards employee benefits plans, Hub International speakers said during a recent webinar. “There’s a fast movement towards wellness, virtual services, virtual health and virtual counselling in this current environment,” Joanne Rose, a senior benefits consultant at Hub, […]
By Jason Contant | May 25, 2021
Municipal insurance rates have been rising significantly and the only way to bring them down isn’t only in the hands of the insurance industry, according to a brokerage leader. It’ll take a team effort from multiple parties. Canadian municipalities have seen rates go up over the last decade in both liability and property areas, said […]
By Adam Malik | May 25, 2021
TORONTO – An Ontario court has ruled that the Iranian military’s downing of a passenger jet early last year was an intentional act of terrorism, paving the way for relatives of those killed to seek compensation from the country. In the decision, Ontario Superior Court Justice Edward Belobaba found on a balance of probabilities that […]
By Jason Contant | May 21, 2021
A new report shows not a whole lot has changed when it comes to how many extra hours people are putting in while working at home during the COVID-19 pandemic. Last summer, virtual private network provider NordVPN Teams reported that Canadian workers were spending two hours more per day working — an increase of almost […]
By Adam Malik | May 21, 2021
Market conditions have led to broken talent pipelines which, in turn, have had a negative effect on companies being able to have a proper diversity, equity and inclusion (DE&I) program, a financial executive told a group of risk managers recently. The market implosion, a byproduct of pandemic-induced business lockdowns, is at least partially responsible for […]
By Adam Malik | May 20, 2021
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