Insurance & Risk, Analysis, Events and Careers
With wildfire losses reaching a whopping $5.6 billion in the past 10 years, there is an urgent need for a solution that can help insurers price the risk accurately, as well as to help municipal and provincial governments know their vulnerabilities so they can take targeted preventative action to protect communities. “Climate change is having […]
By Baxter Hall | July 24, 2018
3 min read
As the U.S. Commerce Department contemplates imposing a 25 per cent tariff on all vehicles imported into the United States, including vehicles from Canada, risk managers are starting to contemplate where all of this heightened rhetoric around protectionism may take their companies in the future. Urs Uhlmann and Dan Riordan of XL Catlin told Canadian […]
By David Gambrill | July 22, 2018
3 min read
Once the new cannabis regulations take effect this October, commercial brokers servicing marijuana-producing clients should ask clients what they are doing to keep their production facilities secure. If a commercial underwriter gets an application for insurance from a cannabis grower, the insurer “will have to do the due diligence” to make sure the client is […]
By Greg Meckbach | July 18, 2018
3 min read
Commercial brokers looking to place insurance for cannabis providers should be paying close attention to the information their clients keep on medical marijuana patients. Cannabis regulations announced last week will supersede the Access to Cannabis for Medical Purposes Regulations once the regulations take effect this October. What may be interesting to cyber insurance providers is […]
By Greg Meckbach | July 17, 2018
2 min read
Norfolk Mutual Insurance Company and Wabisa Mutual Insurance Company in Ontario have voted to amalgamate under the new name “Nova Mutual.” The two mutuals held separate special general meetings Tuesday on the proposed amalgamation, scheduled to take effect January 1, 2019. The amalgamation still requires regulatory approval. If approved, Nova Mutual Insurance Company will become […]
By David Gambrill | July 13, 2018
2 min read
It’s all well and fine if your homeowner clients have backwater valves, but are they alarmed? An alarm that tells occupants that a backwater valve has been activated “can be a very simple way to let people know if the water they’re using in their home is actually running down the drain or not,” Toronto-based […]
By Greg Meckbach | July 12, 2018
3 min read
OTTAWA – The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions. The rate hike was the central bank’s first interest rate move in six months and lifted the trend-setting rate to 1.5 per […]
By Canadian Underwriter | July 11, 2018
4 min read
TORONTO – A raised bit of concrete on a sidewalk. An icy patch on the road. A misstep on the stairs at home. All of these can lead to accidental falls – landing a person not only on the ground, but often also in hospital. Unintentional falls are the most common form of injury across […]
By Jason Contant | July 5, 2018
3 min read
Improving distribution and exploring sophisticated technologies such as artificial intelligence are among the major reasons why insurance CEOs are looking to make deals such as mergers and acquisitions these days. But some of these objectives can be accomplished through other, less elaborate means – through partnerships, for example, or minority share acquisitions. Four in five […]
By Greg Meckbach | July 4, 2018
2 min read
Is the traditional hard market “broken”? Insurance pricing cycles have all but evaporated over the past decade, with premium rates during this period showing an overall decline. The trend is illustrated once again in the 2018 Risk and Insurance Management Society (RIMS) Benchmark Survey, which shows that the total cost of risk (TCOR) for North […]
By David Gambrill | June 27, 2018
3 min read