Global events have delayed the career development of young insurance professionals and the P&C industry needs to figure out how to help, risk manager execs said during the recent RIMS Live 2021 virtual conference. Colleen Zitt, chief risk officer at Zurich North America, referred to the affected group of young insurance pros as the ‘pandamennials’ […]
By Adam Malik | May 5, 2021
3 min read
The global COVID-19 pandemic has taught risk managers to be prepared for any threats, no matter how unlikely or far-fetched they may seem, industry experts said at a RIMS conference webinar panel. The risk of a pandemic has been on the World Economic Forum’s radar since 2006, so no risk manager can say they were […]
By Adam Malik | April 23, 2021
3 min read
New commercial auto clients may suffer an unfair disadvantage if they operate small truck fleets, an Ontario broker suggests. In Ontario, individual truck drivers who decide to start their own trucking firm may have no option but to have their fleet insured through the Facility Association, said Scott Cober, BFL Canada’s Hamilton, Ont.-based national practice […]
By Greg Meckbach | April 13, 2021
3 min read
Today’s hard market is different not only because of COVID-19 but also because insurers are more granular in their approach towards specific segments within the commercial market, experts suggested Monday during a Canadian Underwriter webinar. “In some industries [i.e. commercial classes of business], it is extremely hard even just to get the capacity, or just […]
By Greg Meckbach | April 12, 2021
3 min read
Even if insurance products were available for pandemic risk specifically, several businesses say they wouldn’t anticipate becoming more dependent on risk financing or insurance as a result, according to the results of a global survey from Aon. Few companies have filed an insurance claim related to the COVID-19 pandemic, even though doing so “could have […]
By Jason Contant | February 25, 2021
4 min read
Risk managers globally are scrambling to respond to a number of financial risks related to the pandemic and the related economic meltdown, making credit risk one of their chief concerns for 2021, as reported in a new study by Deloitte. But are non-financial risks potentially falling through the cracks? Risk managers surveyed in the Deloitte study […]
By David Gambrill | February 1, 2021
3 min read
Garth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered to make certain decisions. Underwriters also need to continue to exhibit appropriate empathy and flexibility. […]
By David Gambrill | January 25, 2021
2 min read
With the pandemic entering its 11th month, industry leaders are hearing from workers who want more flexibility as to where they work. “We’ve got the majority of [workers] telling us, ‘We would like to spend some time in the office, we like being productive at home … and we like that freedom. Is there a […]
By Greg Meckbach | January 25, 2021
3 min read
TORONTO – A Toronto strip club where as many as 550 people may have been exposed to COVID-19 last week was not following public health guidelines, officials said Friday. Toronto Public Health said the Brass Rail strip club in the city’s downtown was not following proper distancing guidelines during an inspection, and was not properly […]
By Jason Contant | August 14, 2020
2 min read
OAKVILLE, Ont. – Ford has issued two recalls affecting 63,367 vehicles in Canada, citing safety issues with the brakes and coil spring. The largest recall covers 62,876 Ford Edge vehicles with 2015 through 2018 model years, and Lincoln MKX vehicles with 2016 to 2018 model years built at the Oakville Assembly Plant between mid-2014 and […]
By Jason Contant | August 13, 2020
1 min read