Industry
An abundance of technology is available to prevent water damage in condo buildings, but panellists of a recent Canadian Underwriter webinar questioned why it’s not being mandated or put to use as condo claims continue to increase. Existing technology such as a water detection system can be installed, observed Jeff Rodin, president and CEO of […]
By Adam Malik | October 27, 2020
2 min read
OTTAWA – The federal environment commissioner says Transport Canada’s database of where dangerous goods are stored and moved could be missing thousands of locations and contains outdated details on hundreds more. The audit reports released today say the department has made some improvements since the dangerous goods inspection regime was audited before but still doesn’t […]
By Jason Contant | October 27, 2020
1 min read
Improvements in healthcare, vehicle safety, and infrastructure design have brought down senior crash fatality rates to the point where younger drivers are now a greater risk to die in collisions than seniors, a new study has found. Historically, people aged 70 years and older were most likely to be involved in a crash and less […]
By Adam Malik | October 26, 2020
3 min read
Brokers are more satisfied with their jobs now than they have been over the past three years, Canadian Underwriter’s 2020 National Broker Survey reveals. What’s more, they like their bosses better than their bosses think they do (at least, this year they do). Despite the pandemic and the hard market, both of which have left […]
By David Gambrill | October 26, 2020
TORONTO – Under pressure to address rising commercial insurance rates blamed on the pandemic, Premier Doug Ford promised this week to take action to stop what he called “gouging” by some companies in the sector. Ford twice this week has told insurance firms to rein in what he described as “astronomical” rate increases to businesses […]
By Jason Contant | October 26, 2020
4 min read
When Bob Tisdale started his career about 40 years ago, insurers were more likely to get into financial trouble. “When I first started in this industry in the early days, I was doing commercial underwriting and there were a lot of subscription policies and just a lot of small companies around that would [accept risks] […]
By Greg Meckbach | October 23, 2020
Brokers are advised to factor in the cost of reputational harm for their commercial clients when discussing cyber policy, because that’s typically the most expensive aspect of a breach. Clients typically focus on costs related to notifying clients and forensics, but reputational harm can include greater and more long-term costs such as a drop in […]
By Adam Malik | October 23, 2020
TORONTO – A Canadian class action against opioid makers will start the process of getting certified in a hearing next month, a key test on how courts here will handle a case that is making waves in the U.S. The upcoming hearing in Quebec comes after this week’s news that Purdue Pharma, the company behind […]
By Jason Contant | October 23, 2020
With the COVID-19 pandemic drastically reducing the frequency of in-person meetings, the new president of the Canadian Association of Mutual Insurance Companies (CAMIC) plans to meet online with each member to hear their concerns. “I am mapping out a plan to set up [virtual] meetings, whatever works for the member, to spend 20 or 30 […]
By Greg Meckbach | October 22, 2020
Okay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers who want to go one way or another. Danish Yusuf, the founder and CEO of […]
By David Gambrill | October 22, 2020
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