Industry
The property and casualty insurance industry’s response following the global declaration of the COVID-19 pandemic and how it adjusted quickly in numerous aspects, especially technology, has made the industry more attractive to new graduates, according to a recent report. While the industry has been moving into a more technologically-driven ecosystem over the last number of […]
By Adam Malik | September 9, 2020
3 min read
Whether it’s your personal or commercial clients, neither are feeling too optimistic about their financial situation as the COVID-19 pandemic continues to stress them out, a pair of recent surveys have found. But the head of the national broker association said brokers are ready to respond to the new realities. Nearly half of Canadians (45%) […]
“We’ve always done it this way” are six dangerous words in the construction world, and equally dangerous for those trying to assess or procure adequate insurance for construction projects. “Doing what we’ve always done rarely is OK when we’re facing change,” said Mike Hergott, senior vice president of construction and surety, Ontario region, with Gallagher. […]
By Jason Contant | September 9, 2020
4 min read
The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that, I would argue, COVID-19 is not one of the three driving issues right now in […]
By Adam Malik | September 8, 2020
Canadian brokers considering an upcoming merger or acquisition may understandably be concerned given the economy during the ongoing COVID-19 pandemic, but one property and casualty brokerage M&A expert says his firm’s advice is the same as it’s always been. “That is, make business decisions based on the facts in front of you rather than trying […]
By Jason Contant | September 8, 2020
An increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so far in 2020, A.M. Best suggested in COVID-19 Taking Its Toll on Canada’s Economy and […]
By Greg Meckbach | September 8, 2020
2 min read
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. Extreme weather and climate events causing extensive damage are a fact of the Canadian climate, and this year is no exception. On June 13, a […]
Cost management needs to become a top priority if the property and casualty insurance industry wants to slow down the rise in premiums for the real estate sector. And to do that, an expert explained, both industries — insurance and real estate — need to work together on strategies to examine losses, question development in […]
By Adam Malik | September 4, 2020
The Insurance Brokers Association of Canada (IBAC) has announced the appointment of Tom Reid as the new broker connectivity lead for the association’s Data Exchange (DX) project. “Broker connectivity is a key priority for IBAC, and the pandemic has intensified the need for strong digital solutions across the insurance industry,” IBAC chief executive officer Peter Braid […]
By Jason Contant | September 4, 2020
An international environmental watchdog says there’s convincing evidence that oilsands tailings ponds are leaking. “There is strong scientifically valid evidence of … seepage into near-field groundwater around tailings ponds,” says a report from the Commission on Environmental Co-operation, a body set up under the North American Free Trade Agreement. Federal Environment Minister Jonathan Wilkinson said […]
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