Industry
VICTORIA – The B.C. government has eased the eligibility requirements and extended the deadline for small and medium-sized businesses applying for funds under its $345-million pandemic recovery grant program. Businesses with up to 149 employees must now show a 30 per cent drop in revenue in any one month between March 2020 and the time […]
By Jason Contant | March 5, 2021
3 min read
OTTAWA — Health Canada says it won’t require new clinical trial data from vaccine makers on booster shots being developed to target new variants of COVID-19. Instead, the regulator will rely more heavily on lab tests on blood samples, which can show how many antibodies develop following vaccination. Those antibodies are a good indicator of […]
By Adam Malik | March 4, 2021
Leaders in the Canadian property and casualty insurance industry should resist the following two urges: 1) making a hasty decision to return to work; and 2) mimicking high-profile companies that quickly announce plans to embrace remote work permanently. These are two key takeaways in the recent Harvard Business Review blog, A CEO’s Guide to Planning […]
By Jason Contant | March 4, 2021
4 min read
New research shows the influx of video calls brought about by the COVID-19 pandemic is tiring people out. “Zoom” has become a verb to describe videoconference meetings, said professor Jeremy Bailenson, founding director of the Stanford Virtual Human Interaction Lab. Brokers unable to meet with clients in person have turned to “zooming” with them instead. […]
Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says a leading Canadian authority on natural disaster research. “One [area of key messaging] that I […]
By David Gambrill | March 3, 2021
The COVID-19 pandemic forced one insurance association to change how they typically map out their future. The result ended up being a product they believe is better than something that would have been produced in normal times. For many, planning strategy may involve a day or two retreat to hammer out the issues. But a […]
By Adam Malik | March 3, 2021
Canadian brokerage acquisitions continue coast-to-coast with the recent purchases of four brokerages in British Columbia, Saskatchewan, Manitoba and New Brunswick. Navacord, B.C.-based brokerage Waypoint Insurance, Archway Insurance and Westland Insurance Group (which bought two brokerages) all made acquisition announcements at the end of February or the beginning of March. On Monday, Waypoint Insurance said that […]
By Jason Contant | March 3, 2021
The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the tune of about $2 billion in insured damages, with the June hailstorm in Calgary leading […]
By Adam Malik | March 2, 2021
Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial lines underwriting with the company, said that over the past year, the industry has encountered […]
By Jason Contant | March 2, 2021
It would have been difficult for Intact Financial Corp. to only buy RSA’s Canadian operation without buying other parts of London-based RSA plc, a senior Intact executive suggests. “It is difficult to pull [RSA Canada] away from the RSA Group for different reasons,” Intact CFO Louis Marcotte said, referring to the three-way deal announced this […]
By Greg Meckbach | March 2, 2021
2 min read
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