Industry
CALGARY – A class-action lawsuit alleging the defendants acted recklessly and unreasonably has been filed against the operators of a tour bus involved in a fatal rollover at Jasper National Park’s Columbia Icefield. Three people were killed and 14 others suffered life-threatening injuries on July 18 when the red-and-white, all-terrain Ice Explorer lost control while […]
By Jason Contant | August 25, 2020
4 min read
Being able to distinguish between personal and commercial usage is one of the biggest unique differences with underwriting for the sharing economy, but the abundance of data available makes a hybrid insurance model possible, Economical Insurance said recently. “You can use that data to easily de-mark what is commercial and what is personal, but that […]
By Jason Contant | August 24, 2020
3 min read
After a sharp drop, people are starting to feel a bit more positive towards the insurance industry. As the COVID-19 pandemic grew, the insurance industry’s image as a whole suffered. But, says a recent report, things are trending upwards once again, albeit slightly. “Extremely negative” news coverage around the insurance industry — from travel insurance […]
By Adam Malik | August 24, 2020
When renewing a client’s policy, personal lines brokers rated themselves as more successful in finding the right coverage for the right price than did commercial lines brokers, according to Canadian Underwriter’s latest Trusted Advisor Survey. In Part 2 of our Trusted Advisor series, we asked Canadian P&C insurance brokers to rate themselves on dimensions related […]
2 min read
Brokers admit they could do better when it comes to comparing options for their clients, according to the Trusted Advisor Survey. In Part 2 of the Canadian Underwriter Trusted Advisor series, we asked Canadian P&C insurance brokers to rate themselves on dimensions related to advice, choice and advocacy. Generally speaking, commercial and personal lines brokers […]
VIRDEN, Man. – James Blacksmith closes his eyes and goes back to the moment he saw a pine tree viciously uprooted from the earth and topple onto his Jeep’s roof. Within seconds, the windows burst from the force of a deadly tornado and the Manitoba man struggled against wind and spiralling glass to hold his […]
There is no shortage of pride when it comes to brokers reflecting on the work they do for their clients, especially given the workload they recently endured. After Canadians were side-swiped by an economic recession following the novel coronavirus pandemic, brokers plenty of calls from clients requesting premium relief. One broker told Canadian Underwriter that […]
Customers are looking to their brokers for more information about how to reduce their losses, according to Canadian Underwriter’s Trusted Advisor Survey. Risk is indeed top of mind in the policy renewal portion of the survey, which sought opinions from 653 personal insurance customers and representatives of 159 businesses, customers rated their brokers below average […]
Customers are looking for brokers to give them a heads-up about upcoming rate increases. When Canadian Underwriter asked business and personal customers if they got an advanced warning of a rate increase, and an explanation of why it happened, only 56% of commercial and 49% of consumer clients either agreed or strongly agreed. Obviously, clients […]
Clients would clearly like to see their brokers more often compare and provide multiple quote options to them when first purchasing insurance. Customers scored brokers “below average” on comparing the coverage of different insurers and presenting multiple quotes to the consumer, according to Canadian Underwriter’s Trusted Advisor Survey, Part I. (The baseline average agreement for […]
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