Insurance & Risk, Analysis, Events and Careers
SIKSIKA, Alta. – A First Nation east of Calgary is working on making roads passable as many rural areas of southern Alberta contend with overland flooding. “Road conditions are showing signs of minor improvement and crews have now begun the task of repairing roadways that have suffered the worst damage,” the Siksika Nation said in […]
By Jason Contant | April 19, 2018
2 min read
The market for property and casualty insurance brokerages continues to be intense, with books of business attracting prices from three-and-a-half to five times commissions – and even more for online business, Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory, said recently. So how do smaller players compete? They just aren’t able to, […]
By Jason Contant | April 16, 2018
3 min read
Businesses wishing to insure their brand reputations against a cyber breach are going to find a hard time finding policies to cover that. “This is a huge area of concern for insurance,” says Catherine Evans, vice president-FINPRO at Marsh Canada Ltd. “Typically, if you are talking about a retailer or a financial institution, they are […]
By David Gambrill | April 14, 2018
2 min read
It will take insurers an “extended period of time” to convince even one-quarter of Quebec property owners to buy adequate coverage, an industry executive suggests. Only three to four per cent of homeowners near Quebec City have earthquake coverage, Edouard Schmid, group chief underwriting officer for Swiss Re, said Tuesday during the reinsurer’s 33rd annual […]
By Greg Meckbach | April 12, 2018
2 min read
Canada is seeing a lot more consolidation in the broker channel as some manufacturers seek to guarantee delivery of their product, an analyst told Canadian Underwriter Monday. “In the Canadian landscape, the broker channel is important to all of the manufacturers, particularly on the P&C side,” said Ron Stokes, partner at Ernst & Young Canada […]
By Jason Contant | April 9, 2018
2 min read
Gallagher has recently strengthened its focus on building national industry practices such as trucking with the acquisition of specialist commercial insurance broker Palmer Atlantic. Gallagher has identified long-haul transportation as a priority market segment, and that made Palmer Atlantic a natural choice for an acquisition, according to Phillip Gaunce, the Atlantic region president and chief […]
By David Gambrill | April 9, 2018
3 min read
Chubb Ltd. is willing to lose customers if they are not willing to pay higher prices for insurance. “We sacrifice market share (though not happily) in order to maintain an underwriting profit,” Evan Greenberg, chairman and CEO of Chubb Ltd., wrote in the Swiss-based insurer’s annual report for 2017, recently posted to its website. “Underwriting […]
By Greg Meckbach | April 7, 2018
2 min read
A guideline on how to treat consumers, released Tuesday by the Financial Services Commission of Ontario, applies to property and casualty insurers, FSCO-licensed agents, and other financial services professionals. Financial service providers should “conduct a thorough needs analysis to fully understand the consumer’s objectives and needs based on the facts and information obtained from the […]
By Greg Meckbach | April 5, 2018
2 min read
A set of lawsuits arising from industrial properties allegedly polluted before the current owners bought them is making its way through the Ontario courts. Risk managers at any organization owning or managing property should be aware of the liability from contamination caused by a previous user of that property, Calgary-based risk consultant Darius Delon told […]
By Greg Meckbach | April 5, 2018
3 min read
Geographic and cultural fit drove London, Ont.-based McFarlan Rowlands‘s decision to acquire DA Kurt Insurance Brokers of Kitchener, Ont., McFarlan told Canadian Underwriter. The deal is expected to close on April 30. “The DA Kurt team prides themselves on providing professional advice and personalized service, which is something McFarlan Rowlands places great emphasis on as […]
By Jason Contant | April 3, 2018
2 min read