Industry

What reinsurance renewals looked like in July: Willis Re

Anyone expecting the global pandemic to cause a dramatic reduction of global capital during 2020 Q2 renewals on July 1 were in for a pleasant surprise, as suggested in a recent report by Willis Re. “Q2 2020 has witnessed a remarkable recovery in the capital base of the global reinsurance market as investment markets rebounded […]

By David Gambrill | July 20, 2020

3 min read

Industry

Tour company investigating Alberta glacier bus crash that killed three

COLUMBIA ICEFIELD, Alta. – The president of the company that runs the bus tours at the Columbia Icefield between Banff and Jasper said changes will be made, if necessary, after a rollover on the glacier killed three people and sent two dozen to hospital. The cause of the accident hasn’t been determined. The off-road bus […]

By Greg Meckbach | July 20, 2020

3 min read

Industry

How COVID affected the digital journeys of Aviva Canada and Marsh Canada

The pandemic could permanently change the way brokers and insurers take advantage of digital services. “I think the interesting thing about COVID that we have seen – not just in the insurance industry but in the broader context – is that more people in demographics who typically did not use digital solutions are now using […]

By Greg Meckbach | July 17, 2020

3 min read

Industry

Two ways your clients are most likely to get hacked during COVID-19

Cybercriminals are showing much better success with phishing and social engineering attacks while everyone is working from home during the COVID-19 pandemic, says a recent report. In fact, in a highly-publicized incident just days ago, Twitter confirmed it was the subject of a social engineering attack that targeted employees who had access to internal systems […]

By Adam Malik | July 17, 2020

3 min read

Storm causes damage but Edmonton Oilers arena structurally sound: mayor

Edmonton’s mayor says a preliminary assessment shows storm damage to Rogers Place is not structural and the arena will be able to hold upcoming National Hockey League games. Don Iveson says photos of Thursday night’s flooding and damage to the arena’s roof are concerning. “They have completed a preliminary assessment of the building and the […]

2 min read

How pandemic is making a common marine risk problem worse

The pandemic is making it difficult for shipping companies to get spare parts and technical professionals aboard to perform essential maintenance and repair, a new report from Allianz Global Corporate & Specialty suggests. For the insurance industry, the most common cause of shipping incidents over the past 10 years has been machinery damage or breakdown, […]

2 min read

Your commercial clients are preparing for long road back to normal

If brokers and insurers wonder when the next opportunity might be to sell more commercial premium, it could be at least another six months. That’s when about half of Canada’s small businesses expect to return to normal profitability, according to a Canadian Federation of Independent Business (CFIB) survey. CFIB represents more than 110,000 Canadian small […]

By Adam Malik | July 16, 2020

3 min read

Maurice Tulloch steps down as Aviva CEO

Maurice Tulloch has stepped down from his role as Aviva Group CEO and retired from his position on the Aviva plc board, citing “family health reasons,” Aviva plc has announced. Tulloch joined Aviva in 1992, shortly after graduating with a B.A. degree from the University of Waterloo. He was Aviva Canada’s CEO from 2009 to […]

2 min read

How many claims the Calgary hail storm caused

The industry is dealing with more than 70,000 claims arising from last month’s hail storm in Alberta, but it’s not clear yet how much of the bill will get picked up by reinsurers, the Insurance Bureau of Canada reports. The June 13 storm cost the industry nearly $1.2 billion, IBC reported July 8, quoting Catastrophe […]

3 min read

Bar reopenings going ahead in Ontario as Quebec links cases to bars in Montreal

OTTAWA – Canada’s deputy public health chief says going inside a bar to have a drink with friends remains a high-risk activity in the era of COVID-19. Dr. Howard Njoo’s reminder Tuesday came just days before Ontario starts to allow indoor dining and drinking at restaurants and bars as much of the province, and as […]

4 min read