Risk
Will the insurance industry be ready to effectively respond to the rise of social media, big data and other megatrends? Results of a recent global survey from Towers Watson indicate that while new challenges are emerging, the insurance industry is lagging behind.
July 31, 2013
4 min read
1 RSA Canada announced in July that Julie Pingree [1] is the property and casualty insurer’s new vice president of commercial insurance. Pingree’s mandate will be to grow RSA’s small to medium commercial book profitably, while enhancing the company’s broker service model and evolving ePolicy, its electronic trading platform, notes a statement from RSA. Starting […]
5 min read
Travelers Companies, Inc.'s acquisition of The Dominion of Canada General Insurance Company in early June put an abrupt end to a relatively quiet period for insurance company mergers and acquisitions activity. Analysts say there is room for far more consolidation in the Canadian property and casualty insurance industry, although the pace will be uneven and the targets unpredictable. A growing concentration of larger players dominating the market will affect parties ranging from reinsurers to brokers.
June 30, 2013
12 min read
A recent survey of Allianz experts around the globe shows that businesses take some risks very seriously, but widely underestimate others. Among the latter are the risks of power outages and cyber crime.
6 min read
It is too early to put firm numbers to the hard reality delivered by heavy rain that produced what some suggest is the worst flooding ever in southern Alberta. The lack of numbers, though, has not dampened calls over the need to make changes.
7 min read
Results from a survey sponsored by Zurich Insurance confirms that companies around the world recognize that natural catastrophes pose potential risks, but that has not necessarily translated into having sufficient mitigation processes in place.
Restoration contractors are dealing with changing times: margins are getting squeezed as costs outpace revenues from insurance claims, a review is in the works to get a fix on using software to estimate project costs, and some contractors are facing increased competition from general contractors.
Sewer back-up claims following urban flooding, a growing problem across the country, can produce considerable insured damages. However, this high toll can be reduced through provincial building and plumbing code interpretation.
Moves and Views 1 Crawford & Company (Canada) Inc. recently announced that Pat Van Bakel [1a] is its new CEO, replacing John Sharoun [1b]. Van Bakel, a claims adjuster who was appointed Crawford Canada’s chief operating officer (COO) in 2012, has been with the company for more than 20 years. Before being named COO, he […]
There appears to be little argument: mobile devices have become a normal part of everyday life and incorporating their use into the business side of insurance is not only advisable for brokers, it is imperative. But are brokers ready to take a mobile leap toward real-world business applications? And what must be done to successfully ride the wave of customer expectations?
May 31, 2013
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