Facing increasingly difficult market conditions means now’s the time risk managers can prove their true worth, one expert told a recent panel. Steve Pottle, director of risk management at Thompson Rivers University in Kamloops, B.C., said that as renewal costs go up and new challenges arise, risk managers have to stand tall in the face […]
By Adam Malik | September 24, 2019
3 min read
From the breathtaking forests in British Columbia, to the natural resources of the Prairies, to the high-tech sector in Montreal and Toronto, Canada is a vast country with diverse risks. For the insurance industry, Canada represents an array of attractive opportunities, though emerging risks present some challenges to the continued growth of the nation’s […]
September 24, 2019
3 min read
TORONTO – Violent unrest in Hong Kong is the latest geopolitical threat prompting Canadian companies to review their safety measures for overseas employees, security experts say. “It’s forced companies to kind of look at their policies and procedures around travelling to higher risk countries where there may be instability,” says Patrick Doyle, American Express Global […]
By Greg Meckbach | September 23, 2019
3 min read
Will future risk management professionals be prepared to meet challenges of the business by 2025? It depends widely on who you ask in the field. A RIMS poll of 1,170 people, including 845 risk management professionals, found that for risk professionals with 20 or more years of experience there was an even 50-50% split between […]
By Jason Contant | September 23, 2019
2 min read
While it feels like cyber threats have been around for some time, they’re still at the top of the list of emerging and ongoing risks for some industry professionals. But there are others that are grabbing the attention of insurance professionals. At the recent RIMS Canada Conference in Edmonton, a panel of young insurance professionals […]
By Adam Malik | September 23, 2019
3 min read
Amplified by the speed and global breadth of social media, it takes seconds to shred a good corporate reputation. Corporate boards are worried. Can insurance help?
September 1, 2019
8 min read
A relatively new attempt to lower the risk of injury in a collision has been panned by a safety group. The Insurance Institute for Highway Safety (IIHS) recently reviewed knee airbags – something that has grown in popularity of the last decade with about half of all vehicles in 2017 being equipped with at least […]
By Adam Malik | August 12, 2019
2 min read
Is insurance a good investment? No, according to one risk manager. “I believe that insurance is the worst investment you can make,” said Stéphane Cossette, senior director of risk management with Quebecor Media Inc. in Montreal. “I actually tell people if you think insurance is an investment, let me remind you of something: for every […]
By Jason Contant | August 6, 2019
2 min read
Risk managers should stop “trading dollars” with an insurer and consider increasing their deductibles and assuming some of the risk, suggested Stéphane Cossette, senior director of risk management with Quebecor Media Inc. “Get rid of the noise, get rid of all that trading dollars,” Cossette said in an interview last week. “It’s not about giving […]
By Jason Contant | July 29, 2019
3 min read
The hardening market is even affecting risk management in post-secondary institutions. One risk manager in Calgary said the challenges he is seeing are less about tightening of conditions in an insurance contract than underwriting unique exposures. The post-secondary environment has a pretty varied spread of exposures – from typical retail/dining operations to medical practices, daycare […]
By Jason Contant | July 24, 2019
2 min read