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With much focus placed on commercial cyber insurance, not enough attention has been directed to personal customers and making sure they’re protected — and know what to do — when a cyber event hits them. And insurers are the key to moving this forward. Businesses have been wrestling with cyber risk management and how to […]
By Adam Malik | January 12, 2021
3 min read
Canadian customers may have been slower to adopt to digital options when it comes to insurance in the past but one insurer executive expects the tables to turn rather quickly, predicting half of its customers buying insurance online in the next few years. The Canadian Council of Insurance Regulators issued a report close to the […]
2 min read
REGINA – A report from Saskatchewan’s privacy commissioner says more than 500,000 files with personal information could have been exposed in a ransomware attack on the province’s electronic health information network. The office started an investigation into the December 2019 cyberattack about a year ago. It says the attack resulted in one of the largest […]
By Jason Contant | January 12, 2021
Auto insurance rates on the whole have softened thanks to the COVID-19 pandemic. But as vaccines offer a glimmer of hope of a return to something resembling pre-crisis normal, it’s up in the air as to what will happen to auto premiums going forward. In the fall, LowestRates.ca co-founder and CEO Justin Thouin told Canadian […]
By Adam Malik | January 11, 2021
TORONTO – The superintendent of one of Canada’s financial regulators won’t consider allowing banks and insurers to hike dividends, offer share buybacks or increase executive compensation until COVID-19 lockdowns have subsided. Jeremy Rudin from the Office of the Superintendent of Financial Institutions says he won’t permit any of those measures until Canada has more clarity […]
By Jason Contant | January 11, 2021
1 min read
Continue to show patience and understanding, while keeping communication open, Hub’s Canadian leader is telling her fellow leaders as COVID-19 case counts continue to rise throughout Canada. “I had this conversation with our family dinner table — just this whole notion around with respect to communication,” said Tina Osen, president of Hub International Canada. “I […]
By Adam Malik | January 8, 2021
Ontario’s insurance regulator is looking for feedback from the public on a proposal to relax the rules prohibiting unfair or deceptive acts, allowing insurers to offer rebates and incentives to consumers under certain circumstances. “If you talk to insurance companies and look at the restrictions that you have under the current Unfair or Deceptive Acts […]
By Greg Meckbach | January 8, 2021
MONTREAL – A group of seniors at one of the first long-term care homes in Quebec to receive COVID-19 vaccines have threatened to sue the provincial government if they don’t receive their second doses in the coming days. A formal notice sent to Quebec’s premier and health minister dated Tuesday said residents of Montreal’s Maimonides […]
By Jason Contant | January 8, 2021
The most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party claims opens the door to effective subrogation, which leads to two major benefits serving both […]
By Adam Malik | January 7, 2021
Large Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced in the new year. Gallagher and Navacord brokerage Waypoint Insurance also announced deals this week. […]
By Jason Contant | January 7, 2021
4 min read
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