Risk
NICC MONTREAL – In order to make overland flood insurance work in Canada, government must be involved – in some way – in pre-planning, but Canada cannot necessarily copy from any other nation’s flood program, Insurance Bureau of Canada’s chief executive officer suggested last week. “Some insurers began offering their own flood insurance products this […]
By Canadian Underwriter | October 4, 2015
3 min read
While large-profile cyber breaches tend to dominate the news headlines, sometimes it’s the smaller ones that are being overlooked, panellists suggested on Thursday at the National Insurance Conference of Canada in Montreal. Although people tend to look at the large, high profile breaches, “smaller companies are actually having incidents,” said Phil Baker, president of Creechurch […]
By Canadian Underwriter | October 2, 2015
NICC MONTREAL – The insurance industry needs to be more responsive to emerging risks so carriers can remain relevant to policyholders, industry executives suggested Thursday at the National Insurance Conference of Canada. “The challenge for the industry is, how do we react to the new risks that our clients are experiencing, arising from changing technology?” […]
By Canadian Underwriter | October 1, 2015
Canada could see a “moderate” 3% economic growth in the third and fourth quarters of this year and 2% next year, Swiss Re’s chief economist suggested during a presentation at the National Insurance Conference of Canada (NICC) in downtown Montreal on Thursday. The growth during the second half of this year will help compensate for […]
NICC MONTREAL – Canadian insurers could be hit with regulations in personal property pricing and underwriting, so the industry needs to do an even better job of explaining property risk to consumers, speakers suggested Thursday at the National Insurance Conference of Canada. “Ultimately the big losers are going to be the consumers, if the product […]
The potential benefits of usage-based insurance (UBI) – including safer driving behaviour – have long been touted, but survey results released Wednesday by Allstate Insurance Company of Canada show consumers have not necessarily bought into the value of a UBI program. Conducted by Leger on behalf of Allstate Canada, the online survey found that significant […]
4 min read
"Mass personalization" has become a distinct trend in sectors ranging from retail to manufacturing to e-commerce. Today's consumers increasingly expect companies to tailor offers, products and pricing to their unique situations and preferences. Property and casualty insurers in Canada are slowly finding ways to tap into the power of personalization.
September 30, 2015
13 min read
Specialty insurance markets are having a big impact on Canada's biggest industries. For example, identifying how best to insure drones - use of which looks poised to take flight in a number of industries - is adding to the complex liability of already-complex Canadian industries.
6 min read
The digital world has created unprecedented possibilities for assembling and exchanging messages. Brokers must be ready to provide "omni-channel" communication to meet customer wants on their terms in this new digital world.
Awareness is growing among Canadian insurance companies that cyber risks are on the rise and associated costs can be high. But steps can be taken to creatively improve cyber defences that help guard against fraud and reputational harm.
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