Industry
Brokers need to pay close attention to the quality of submissions they make on behalf of clients to underwriters because the smallest missing detail can be the difference in whether or not the application is approved. Underwriters are swamped these days, explained Kevin Neiles, chief marketing officer and Western Canada president at Gallagher, so the […]
By Adam Malik | September 24, 2020
3 min read
More than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won’t say when it expects its online services to fully return to normal. A number of services within the CRA’s online portal for individual Canadians remain unavailable, including the ability […]
By Jason Contant | September 24, 2020
2 min read
After early hopes that brokers and insurers might be able to sell more commercial premium early next year as small businesses activity normalizes, a new report finds that it may be upwards of a year-and-a-half on average for a return to typical sales. At the current pace, ranges for a return to normal vary wildly, […]
By Adam Malik | September 23, 2020
Financial data marking the end of the “COVID quarter,” the dreaded 2020 Q2 results, show the Canadian P&C industry digging itself into a deeper underwriting hole than during the same point last year — with loss ratios in cyber and CGL policy lines dramatically on the rise. Canada’s solvency regulator, the Office of the Superintendent […]
By David Gambrill | September 23, 2020
HALIFAX – The centre of post-tropical storm Teddy made landfall in eastern Nova Scotia on Wednesday morning and then trudged across southern Cape Breton, its 100-kilometre-per-hour winds causing power outages – but not much damage. Bob Robichaud, a meteorologist at the Canadian Hurricane Centre in Halifax, said the sprawling, ragged storm came ashore near Sheet […]
By Jason Contant | September 23, 2020
Cyber exposure for your clients has shifted from the obvious operational standpoint of remote working during the COVID-19 pandemic to a data retention standpoint, a Gallagher executive said recently. “Many organizations are collecting personal health information on employees, maybe on customers [or] on guests, that perhaps they weren’t collecting in the past,” Brian Dagg, account […]
By Jason Contant | September 22, 2020
The property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe, president of Aon Reinsurance Solutions Canada. Ensuring clients have the basics covered off means being […]
By Adam Malik | September 22, 2020
Hundreds of productions and thousands of entertainment jobs are on hold because the federal government has yet to intervene and help them get COVID-19 insurance, say two Canadian film and television organizations. The Canadian Media Producers Association and the Association quebecoise de la production mediatique said Friday that they have identified 214 camera-ready film and […]
When a student or recent graduate asks what they’ll be doing if they were to work in the property and casualty insurance industry, it’s important to give them a detailed sense of what any given career in the industry might entail, said John McNeil, program coordinator and full-time professor for Humber College’s insurance management program. […]
By Adam Malik | September 21, 2020
Brokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use, a pair of national brokerage leaders warned. “Right now, there’s a focus on policy wordings,” […]
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