Industry

Can scientists predict when the next exceptional high tide will occur along the St. Lawrence River?

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. Authors: Cedric Chavanne, Professeur en oceanographie physique, Universite du Quebec a Rimouski (UQAR); Daniel Bourgault, Professeur en oceanographie physique, Universite du Quebec a Rimouski (UQAR), and […]

By Jason Contant | July 13, 2022

6 min read

Industry

Economists expect Bank of Canada to hike key interest rate by 0.75%

OTTAWA – Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. In Canada, inflation hit a 39-year-high of 7.7 per cent in May – well above the two per cent target rate central banks typically aim for. The […]

By Jason Contant | July 12, 2022

4 min read

Industry

Where home insurance premiums are trending upwards in 2022

LaSalle, Ont., has the highest home insurance premiums in the province right now, whereas Ajax, Ont., offers the least expensive home insurance premiums, according to the latest data from rate comparison site RatesDotCa. On average, home insurance premiums in Ontario have increased about 10% since the fall of 2021, compounding homeowners’ cost challenges amid rising […]

By Jason Contant | July 8, 2022

2 min read

Industry

IBC’s thoughts on Premier’s mission to end “unfair” postal code rating

Ontario drivers may soon see the end of “unfair” rating of auto insurance policies based on postal codes, says Ontario Premier Doug Ford, and the Insurance Bureau of Canada agrees it may be time to modernize territorial rating. “I know we’re working on a plan for insurance companies,” Premier Ford said at a press conference […]

By Alyssa DiSabatino | July 8, 2022

3 min read

Lightning starts 136 wildfires over seven days in Yukon: fire information officer

WHITEHORSE – A Yukon information officer says firefighters in the territory have been bolstered by crews and resources from British Columbia to help fight a growing number of wildfires. Mike Fancie says in a news release Wednesday that about 60 firefighters including an airtanker group are in Yukon from B.C., with more resources to arrive […]

1 min read

Where digital transformation goes wrong for the P&C industry

Canada’s P&C insurance industry needs to get back to basics — unmet customer needs — when designing tech-enabled digital strategies and products, speakers said last week during an industry webinar. Too often, carriers or other industry stakeholders get involved in an “iteration cycle,” said panel moderator Bryan Falchuk, founder and managing director of Insurance Evolution […]

3 min read

Canada headed towards ‘moderate’ recession in 2023: RBC economists

TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising interest rates and ongoing labour shortages will push the economy into a “moderate contraction” next […]

3 min read

Why brokers should ask their clients about home renos

Canadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes? Not every renovation made during the pandemic was part of a long-term plan, noted Aviva’s How We […]

2 min read

Behind the upcoming hard market in global reinsurance

Globally, insurance companies’ premiums are on the rise. Inflation and wartime sanctions are cited as two (among other) major factors in why global reinsurers are sliding into a harder market status as of recent July 1, 2022, renewals, according to Arthur J. Gallagher Re. “[At] the last major renewal season of 2022, there were noticeable […]

3 min read

Why career conversations and experiments are key to employee retention

Focusing career conversations on progression, not promotion, may be one way to convince your top producers to stick around. Spotting employees’ strengths and then creating connections for them within the organization to have ‘curious career conversations’ is one solution to retaining employees during dynamic market conditions, two authors wrote in a Harvard Business Review blog […]

3 min read