Industry
Forget everything you know about insurance. That’s what the insurance product of the future will look like, says Tim Attia, CEO and co-founder of New York City-based Slice Labs. “Insurance will have to be like Spotify,” Attia said, referring to the audio streaming service. “You just register and you’re protected. You can’t come to the […]
By Jason Contant | August 29, 2019
4 min read
Buffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways to lower variability in our reinsurance business,” BMO Financial Group CEO Darryl White told investors […]
By David Gambrill | August 28, 2019
3 min read
HALIFAX – Preliminary results of an imaging survey near a Nova Scotia town where a sinkhole swallowed part of a park last summer show an extensive belt of hundreds of additional sinkholes stretching for kilometres. Amy Tizzard, a geologist with the provincial Department of Energy and Mines, said the new imaging around Oxford, N.S., clearly […]
By Greg Meckbach | August 26, 2019
Consolidation in the insurance industry is reducing consumer choice and putting more pressure on employees, Steve Smith, president and CEO of Cambridge, Ont.-based Farm Mutual Reinsurance Plan Inc., said during his second last week on the job. “To me it’s kind of a sad thing,” Smith said of industry consolidation – without naming names – […]
TORONTO – Five women and a baby were injured after a vehicle allegedly ran a red light in the heart of Toronto’s downtown core, city police said Thursday. Sgt. Brett Moore of the force’s traffic services division said the resulting three-car pileup sent at least four of those hurt to hospital, with one of them […]
By Greg Meckbach | August 23, 2019
2 min read
So long as a trade war and tariffs being thrown around, recessionary fears will always linger over the head of the economy. But that doesn’t mean it’s all storm clouds. One economist believes Canada is in good shape. The latest chapter in the trade war happened just before the weekend. China announced a tariff hike […]
By Adam Malik | August 23, 2019
A new managing general agency (MGA) offering optional auto insurance has launched in British Columbia, with the goal of moving into homeowners’ insurance within a year. Vancouver-based Stratford Underwriting Agency is the only MGA selling the complete private passenger suite of products for optional coverage, the company’s CEO, Colin Brown, told Canadian Underwriter Wednesday. Optional […]
By Jason Contant | August 23, 2019
VICTORIA – New policies for ride-hailing services in British Columbia will allow companies such as Uber and Lyft to operate a limitless number of vehicles beyond geographical boundaries that are in place for the taxi industry. Chair Catherine Read of the Passenger Transportation Board said Monday the boundaries where passengers can be picked up must […]
By Jason Contant | August 22, 2019
If your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more than 1,700 employees of healthcare organizations in the United States and Canada (including more than […]
By Jason Contant | August 21, 2019
Commercial clients looking for ways of managing wildfire risk should turn their mind at some point to flammable liquid storage. “You wouldn’t want a gas can right up against the building,” said Scott Steinmetz, global head of risk control, MidCorp at Allianz Global Corporate & Specialty, in a recent interview. MidCorp is a division of […]
By Greg Meckbach | August 19, 2019
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