Business changes rapidly, and not all business models can weather the storm — but three models will dominate the future large commercial insurance (LCI) market, KPMG said in a new report. The three models — named the agile global player, innovative specialist and open-source risk manager — are here to stay, KPMG suggested. The agile […]
By Alyssa DiSabatino | August 4, 2022
3 min read
A growing wildfire in British Columbia’s Okanagan area has forced the evacuation of more than 300 properties in the ski resort community. These properties, including the Apex Mountain Ski Resort in Penticton, were ordered evacuated as the fire showed “aggressive and unpredictable growth,” the Canadian Press reported Tuesday. A small, unoccupied cabin was also destroyed. […]
By Jason Contant | August 3, 2022
2 min read
Environment and Climate Change Canada says hail ranging from the size of a pea to a softball fell in central Alberta on Monday. Sara Hoffman, who is a meteorologist with the agency, says although the storm that passed through the Rocky Mountain House and Red Deer areas wasn’t record breaking, the size of the hail […]
By Jason Contant | August 3, 2022
1 min read
A more assertive regulatory landscape may prove concerning for large commercial insurers (LCI) in the near future, especially those with multinational clients, a survey from KPMG suggested. Evolving client and broker expectations, economic uncertainty, technological evolution and environmental, social and governance (ESG) activism also are causing mounting pressures to the LCI sector, said approximately 400 […]
By Alyssa DiSabatino | August 3, 2022
3 min read
YELLOWKNIFE – Electric vehicles are a rare sight in Canada’s North, with challenges such as frigid winter temperatures and limited infrastructure. The Northwest Territories is hoping to change that. The territorial government plans to develop a vehicle-charging corridor between the Alberta boundary and Yellowknife to encourage more residents to buy electric vehicles to reduce their […]
By Jason Contant | August 2, 2022
4 min read
NFP has grown dramatically in Canada over the last three years, with a 110% expansion in revenue, the large national brokerage reported late last month. “NFP in Canada is 20 times larger than it was five years ago,” Scott Saddington, chief operating officer of NFP in Canada, said in a press release July 26. To […]
By Jason Contant | August 2, 2022
3 min read
Manitoba Public Insurance (MPI) is warning consumers about the need to protect their vehicles from catalytic converter theft as reports of this type of crime have significantly increased in recent months. According to MPI claims data, the public insurer has seen approximately 150 catalytic converter theft-related claims reported monthly. In April 2022, that number exceeded […]
By Jason Contant | July 29, 2022
2 min read
Police say they’ve charged 28 people in Ontario and Saskatchewan, including several ServiceOntario employees, following an investigation into the fraudulent modification and sale of hundreds of stolen vehicles. In a news release Thursday, Ontario Provincial Police said they began an investigation in September 2020 after uncovering an alleged auto theft network that they say was […]
By Jason Contant | July 29, 2022
2 min read
One cyber insurance specialist is warning brokers and clients of a ransomware attack method that subverts common cybersecurity controls by tricking victims into phoning a call centre – rather than clicking a link – and instructing them to download malicious software to infect their own computers. “Making the victim do all the heavy lifting is […]
By Jason Contant | July 28, 2022
4 min read
Attracting and retaining IT and digital talent remains the biggest challenge for companies around the world, and it’s an even bigger problem for employers than it was in 2021, according to a recent survey from WTW. IT/digital talent remains the top employee group posing a challenge for attraction (75%) and retention (59%), said WTW’s July […]
By Jason Contant | July 27, 2022
3 min read