Industry
As the transition date for the new insurance accounting standard IFRS 17 approaches in January 2022, insurers are split on whether or not to use dedicated staff for implementation. A recent study of about 25 insurance clients of PwC found that 56% will take on IFRS (international financial reporting standards) implementation as an additional responsibility […]
By Jason Contant | April 29, 2021
4 min read
When the COVID-19 pandemic swept across the world last year, Airbnb CEO Brian Chesky watched business shrivel up at record speed and his company’s phonelines flood with cancellations, eventually leading him to lay off 1,900 workers. But under that cloud of gloom, the head of the home rental giant noticed bright spots in corners of […]
Deciding to shift your workforce to be more weighted towards a work-from-home environment isn’t as easy as flicking a switch for brokerages and insurance companies, P&C experts on a recent web panel warned. There needs to be real thought put into it, as the future normal hasn’t quite been sorted out yet. For example, companies […]
By Adam Malik | April 28, 2021
3 min read
Although proposed draft reinsurance rules from the federal solvency regulator have not been finalized, the president and CEO of Insurance Bureau of Canada (IBC) is indicating that the regulator and Canadian P&C insurers may be bridging the gap. “I take some solace in how the reinsurance file has played out,” IBC president and CEO Don […]
By Jason Contant | April 28, 2021
Human interaction is still as important as ever despite a global pandemic but the method of having those interactions has changed. Enhancing digital capabilities by getting splintered groups to come together has allowed the insurance industry to maintain those relationships, said an insurer executive during a recent webinar. Many interactions between insurance professionals have historically […]
By Adam Malik | April 27, 2021
Kings Mutual CEO Cara Cameron is not staying on after the Nova Scotia-based insurer merges with Heartland Farm Mutual Inc. If approved by regulators, the Kings-Heartland deal, initially announced on Jan. 18, will take effect June 30. The merger was approved on April 26 by both mutual insurers’ policyholders. It still requires regulatory approval, Waterloo, […]
By Greg Meckbach | April 27, 2021
BFL Canada announced Tuesday it has appointed Brian Parsons as its new president of BFL Canada’s national risk management division. The large commercial brokerage said in a press release Tuesday that it will also announce new appointments in its risk management division in the “near future.” Parsons was previously president and CEO at Willis Towers […]
By Jason Contant | April 27, 2021
2 min read
TORONTO – Ontario plans to increase penalties for speeding, stunt driving and other traffic violations, saying it has seen a spike in the offences since the pandemic hit. The government introduced legislation Monday that would, among other things, increase vehicle impoundment times and lengthen licence suspensions. Transportation Minister Caroline Mulroney said the Moving Ontarians More […]
Take your vacations. Block out time to take breaks during the day. Get away from the computer. That’s some of the advice from human resources leaders in the property and casualty insurance industry during a recent webinar panel discussion. Just because you’re working from home doesn’t mean you have to work harder or longer, said […]
By Adam Malik | April 26, 2021
The use of telematics is expanding beyond traditional vehicles and tracking methods to increasingly focus on contextual risk.
By Jason Contant | April 26, 2021
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