Industry
WASHINGTON – Canada is not yet prepared to confront the challenges inherent in reopening the shared border with the United States, Prime Minister Justin Trudeau said Wednesday, stopping short of confirming that a ban on non-essential travel will be extended to June 21. The federal government has asked to extend the current ban, which is […]
By Greg Meckbach | May 13, 2020
4 min read
Matt Wolfe has been appointed the new president of Reinsurance Solutions in Canada, Aon plc announced Friday. “In his new role, Matt will lead the Canadian Reinsurance solutions team and bring unmatched analytics and insights to clients across the country,” said David Sloan, CEO of Reinsurance Solutions in Canada. “He will also drive change and […]
By David Gambrill | May 8, 2020
1 min read
Between the industry’s digital disruption and now the practicing of social distancing related to COVID-19, the processes of a catastrophe response, both field and desk adjusting, are undergoing significant changes. Newly adopted changes have been beneficial to the industry by reducing costs and shortening cycle times. Some, however, have had a negative effect. The indemnity […]
May 7, 2020
3 min read
Business continuity plans should consider four main areas while preparing for the P&C industry workforce to return to work in an office setting, KPMG told Canadian Underwriter in an interview Friday. These four areas include: Where we are at now COVID-19 is the disease caused by the novel coronavirus. It has been a global pandemic […]
By David Gambrill | May 6, 2020
5 min read
By selling a good chunk of its runoff business to one of Canada’s largest pension plans, Fairfax Financial Holdings Ltd. is allowing that business to buy discontinued Lloyd’s books while still allowing Fairfax to invest in its other insurers, CEO Prem Watsa suggests. During the first quarter, Toronto-based Fairfax closed the sale of 40% of […]
By Greg Meckbach | May 5, 2020
2 min read
As the P&C industry plans to return to the office safely while remaining socially distant, perhaps the greatest challenge lies in accommodating anxious, digitally-empowered employees and clients who aren’t yet ready to return to traditional workplaces while the pandemic is ongoing. “Some people may be comfortable coming back to work, and others may not, and […]
By David Gambrill | May 5, 2020
P&C veteran Jeff Hart heads up Vailo Insurance Services Ltd., a recently-launched managing general agency
May 4, 2020
As we optimistically look forward to at least the beginning of the end of the COVID-19 virus, our industry should start to prepare for the “pandemic of litigation” that will undoubtedly follow. Our property and business interruption policies will be under attack, and so will our policyholders and their liability policies. One of the by-products […]
By Adam Malik | May 4, 2020
TORONTO – The C.D. Howe Institute’s Business Cycle Council says Canada has entered a recession due to the economic devastation caused by the COVID-19 pandemic. In a report released Friday, the council said the economy peaked in February before the steps taken to slow the spread of the coronavirus brought the economy to a standstill. […]
By Greg Meckbach | May 1, 2020
Consumers are afraid. They are deeply concerned about their health, jobs, the economy, social cohesion, and sometimes their supply of toilet paper. The current situation presents a defining opportunity for the insurance industry to reinvent itself and emerge from the crisis, stronger, more relevant and better equipped for a digitized world. We have the benefit […]
By David Gambrill | April 28, 2020
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