Industry
The longer the COVID-19 pandemic drags on, the longer businesses will struggle and the risk that they close their doors for good, an economist is warning, and that spells bad news for the insurance industry. Canada is navigating through a second wave of COVID-19 infections and certain “targeted” regions and business segments are facing yet […]
By Adam Malik | October 16, 2020
3 min read
In the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more than 80 brokerage principals surveyed by Canadian Underwriter during this summer, 71% reported performance-based compensation […]
By David Gambrill | October 16, 2020
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Kevin Kemball, Director – Centre for Boreal Research, Northern Alberta Institute of Technology – THE CONVERSATION Lately, there’s been growing concern over the number […]
By Jason Contant | October 16, 2020
5 min read
Advising clients of parametric options will allow brokers and insurers to enhance their value and open up opportunities to provide more options for risk transfer and solutions to coverage issues that couldn’t be solved under traditional measures, says an insurer executive. Focusing on parametric coverage means giving clients the ability to get more customized coverage, […]
By Adam Malik | October 15, 2020
4 min read
As the COVID-19 pandemic extends into the fall and winter months, with cases continuing to rise throughout the country, it is critical that the industry’s leaders foster a culture of trust within their P&C organizations moving forward, an Aviva Canada executive told Canadian Underwriter recently. In making his point, Danny Davies, chief people officer of […]
By David Gambrill | October 15, 2020
MONTREAL – Former premier Jean Charest is suing the Quebec government for violation of his privacy in connection with an investigation by the province’s anti-corruption unit. The lawsuit filed Friday in Montreal seeks $1 million in punitive damages and $50,000 in moral damages. Charest said in a statement that in recent years, confidential information about […]
By Jason Contant | October 15, 2020
2 min read
A public health emergency such as a pandemic may be an unforeseen “act of God,” but that doesn’t necessarily mean it will make it illegal or impossible for a business to fulfill the terms of a commercial contract with a client, the B.C. Civil Resolution Tribunal (CRT) found recently. While the contract in Grant v. […]
By David Gambrill | October 14, 2020
As the United States nears election day, Canadian P&C insurers and other financial analysts are trying to read the tea leaves for signs of a crisis mitigation strategy south of the border that would address the COVID-19 pandemic and its negative impact on the economy. Because without a plan to tackle the issues, the economy […]
By Adam Malik | October 14, 2020
OTTAWA – The Senate of Canada will pay nearly half a million dollars in compensation to nine employees of a now-resigned senator who say they suffered harassment, including sexual harassment, on the job. The decision today to award $498,000 in compensation plus legal fees comes more than a year after a Senate investigation found a […]
By Jason Contant | October 14, 2020
1 min read
Insurers need to form stronger bonds with various ancillary organizations involved in a car purchase, so that insurance isn’t the last thing on a consumer’s mind at the end of the deal, says an industry consultant. But in seeking out such partnerships, direct insurers may have a distinct competitive advantage over insurance companies that distribute […]
By Adam Malik | October 13, 2020
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