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Insurers will be forced to make tough decisions about how they offer cyber coverage, thanks to claims going through the roof this year and losses piling up across the board, a cycler expert recently told Canadian Underwriter. Insurers will have to decide whether they’ll respond to the spike in cyber claims by reducing capacity or […]
By Adam Malik | November 27, 2020
3 min read
In keeping with actions previously taken by Canada’s auto insurers, Northbridge General Insurance Company will start treating driving while using a hand-held communication device as a major conviction for the purpose of setting insurance rates in Nova Scotia. The change takes effect Jan. 4, 2021 for new business and Feb. 4, 2021 for renewal business, […]
By Greg Meckbach | November 27, 2020
Prime Minister Justin Trudeau pushed back against critics of his government’s COVID-19 vaccination plan with assurances most Canadians would be inoculated by September 2021, with a former NATO commander leading distribution. Trudeau announced Friday that Maj.-Gen. Dany Fortin will lead the nation’s vaccine distribution efforts, overseeing logistics that include cold storage requirements, data sharing, and […]
2 min read
Improving diversity and inclusion (D&I) in insurance companies has a positive impact on the business above and beyond compliance and the reputation of the organization, speakers said recently at a virtual industry event. Some of the benefits include better talent and promotion opportunities, and greater innovation and employee engagement. Strong D&I data can even have […]
By Jason Contant | November 26, 2020
There’s a need for experts capable to handle complex and large loss investigations and provide unbiased views, says the Canadian head of global forensic engineering firm Haag, which has opened up shop in Canada. The Dallas, Tx.-based company expanded north of the border in September, with former 30 Forensic co-founder Chris Giffin at the helm […]
By Adam Malik | November 26, 2020
TORONTO – Ontario is set to cap the fees third-party delivery apps impose on restaurants in regions where indoor dining is prohibited, in a bid to protect what profits restaurants can still make during the COVID-19 pandemic. The Progressive Conservative government will table legislation today that would give the province the authority to temporarily limit […]
If that restaurant server’s customer service stood out to you, maybe they’d be successful working in insurance. That’s one suggestion a brokerage leader gave at a recent convention as a way to find talent from other industries to fill needs in the industry. It’s time to think outside the insurance box, said Johanna Allen, president […]
By Adam Malik | November 25, 2020
Insurance companies are used to collecting data, but they need to do a better job of using data around race and gender to build diversity and inclusion in their senior ranks, speakers said Tuesday at KPMG’s 2020 Insurance Conference. Insurers may collect data on gender, but the intersectionality around race and gender data (for women […]
By Jason Contant | November 25, 2020
HAPPY VALLEY-GOOSE BAY, N.L. – A two-day snowstorm that began Monday has buried central Labrador under a record-setting blanket of snow. Environment Canada meteorologist David Neil said today the 75 centimetres of snow covering Happy Valley-Goose Bay is the second-largest two-day snowfall ever recorded in the town. The record stands at 91 cm, recorded over […]
1 min read
External attacks on companies result in the most expensive cyber insurance losses, but internal failures like employee mistakes and technical problems are the most frequent generator of claims by number (albeit with a lower financial impact), a new report says. Allianz Global Corporate & Specialty (AGCS) analyzed more than 1,700 cyber claims worth US$770 million […]
By Jason Contant | November 24, 2020
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