Industry
Intact Financial Corporation, Trisura Guarantee Insurance Company, and brokerages NFP and Westland Insurance Group all announced changes at the senior executive level over the past week. Patrick Barbeau, Intact Patrick Barbeau will become Intact Financial Corporation’s executive vice president and chief operating officer effective May 31, Canada’s largest insurer announced last week. He is currently […]
By Jason Contant | May 17, 2021
3 min read
MONTREAL – A large library in Montreal will be closed until Tuesday morning in the wake of a hacking attack on Quebec’s public daycare registration website. Quebec’s Treasury Board Secretariat issued a recommendation on Friday evening urging all government bodies using software developed by the same company as the daycare registration site to immediately suspend […]
1 min read
CAA
Having a social media strategy is a proven approach that supports numerous business objectives such as growth, engagement, brand loyalty, SEO, and more. And with 25.35 million users in Canada, it makes sense that people’s buying decisions can be strongly influenced through social media. Are you, as a broker, taking advantage of its full marketing […]
May 17, 2021
4 min read
Wildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting to move from what the insurance industry traditionally thought of as an attritional risk — […]
By Jason Contant | May 14, 2021
Insurance companies, generally risk-averse, are not used to seeing failure — something they need to get used to when they work with insurtechs that are trying to create a better system for them, says one insurtech leader. Insurers come to an insurtech to enhance their offering. Figuring out the best solution means playing around with […]
By Adam Malik | May 14, 2021
TORONTO – Restaurant owners say they are concerned about operations as federal subsidies begin to wind down, even as provinces like Ontario extend stay-at-home or lockdown measures. Restaurants Canada is seeking an exemption from the federal government’s scheduled phase-out of the wage and rent subsidy programs, both of which will gradually be decreased starting in […]
After a two-year wait, Canada’s property and casualty insurance industry is relieved to hear the federal government has finally established its long-awaited Sustainable Finance Action Council, which will advise government on matters such as climate-related financial disclosure requirements across the country. The federal government announced Wednesday the creation of the Action Council, which will include […]
By David Gambrill | May 13, 2021
A corporate diversity, equity and inclusion (DE&I) program is essential because it’s driving business innovation, which is a competitive advantage, risk managers heard during a recent web conference. Carla Harris, vice chairman and managing director of Morgan Stanley, spoke at the recent RIMS Live 2021 virtual event about how companies are competing on innovation. Finding […]
By Adam Malik | May 13, 2021
Canada could potentially see $20-billion loss events from wildfire alone, according to recent simulations by Risk Management Solutions, Inc. (RMS). The odds of that happening would be “extremely rare, on the order of a 1-in-10,000-year return period,” Michael Young, vice president of model product development at RMS, told Canadian Underwriter in an interview Tuesday. “But […]
By Jason Contant | May 13, 2021
TORONTO – Canada’s two largest pipeline companies say they have taken a proactive approach to avoid the type of cyberattack that has disrupted gasoline supplies in the U.S. Southeast and contributed to higher retail gasoline prices across North America. Hackers were able to seize control of computer systems for the Colonial Pipeline, locking access, and […]
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