Risk
The property and casualty industry in Canada has some work to do to determine the complex liability and coverage issues that are likely to unfold with the anticipated increase in use of drones. Globally, however, Canada is leading the way in permitting commercial drone and mandating that insurance protection be purchased.
January 31, 2015
6 min read
Talk of "claims transformation" in the property and casualty insurance industry is hardly new. Talk has already turned to action for some, businesses that have updated people, process and technology to answer the evolving and inevitable demands being fuelled by customer experience. However, is transformation now a business imperative to be relevant in the future?
December 31, 2014
17 min read
Lightning strikes somewhere in Canada more than two million times each and every year. While the frequency of homeowner claims for lightning-related damage is low, occasionally, these bolts from the blue cause large losses as a result of fire and electrical surge.
An outbreak of a disease - such as Ebola, SARS, tuberculosis or measles - can put companies at risk of business interruption and lawsuits. Although property and business interruption policies generally have not covered such outbreaks, the Ebola epidemic in Africa has spurred some insurers to move forward with new coverage and others to retreat with specific related exclusions.
November 30, 2014
5 min read
Surveyed consumers in the United States and the United Kingdom are already collecting more data about themselves - and many are willing to share in exchange for a benefit. Beyond discounts, though, are consumers ready for a different kind of engagement and to collect new data for data-driven models?
The forecast for the coming winter may not be as harsh as the reality of 2013, but that does not mean businesses should sit back and expect things to be fine this year. Precautions need to be taken and plans must be in place to ensure conditions do not get the best of business properties.
Anne Chalmers – recipient of the Donald M. Stuart Award – sees risk management as a journey, one that continuously evolves and transforms. Journeys – whether personal or professional – can take many different paths and begin in many different places. Anne Chalmers’s risk management journey began on a bus. Chalmers, recipient of the Donald […]
Several Canadian communities have started incorporating land use planning tools, such as development permits, into their wildland fire management strategies. The idea is that these permits, which can be used to combine management of zoning and site planning, can help reduce potential future losses associated with wildfires.
October 31, 2014
Civil unrest in various regions has raised awareness in Canadian C-suites about the need for robust credit and political risk insurance protection. It is vital that Canadian corporations with an international footprint fully understand the full spectrum of risk associated with pursuing opportunities in these regions.
A number of markets have recently commenced underwriting onshore energy in the Canadian property market. While the energy business in Canada has historically been quite profitable, current conditions make risk selection and placement position critically important.
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