Risk
Brooke Hunter, incoming president of the Toronto Insurance Conference (TIC), advises commercial brokers not to limit themselves to just selling insurance. A key TIC objective is to ensure member brokerage firms are well-informed on issues affecting the industry.
October 31, 2013
5 min read
The federal government plans to introduce legislation that will increase the mandated liability coverage for nuclear operators from $75 million to $1 billion. These new requirements may also include a limitation period of as long as 30 years.
How does an insurance professional, who is attending a social function, deal with someone who voices vigorous disenchantment with the industry? One course of action may be for the industry and its professionals to do their best to educate and clearly communicate with the consumer - regardless of the setting.
8 min read
The face of risk around the world and here at home is changing quickly. Being prepared is critically important - not only to answer specific perils, but to also match the evolving nature of risk management.
6 min read
1 Greg Somerville (1) has been named Aviva Canada’s new president and CEO. Most recently executive vice president of broker distribution, Somerville has also served as executive vice president of claims and reinsurance, responsible for the technical and strategic direction of Aviva Canada’s national claims and reinsurance operations. Prior to joining Aviva Canada in 1992, […]
CANADIAN MARKET FSCO publishes bulletin on usage-based insurance The Financial Services Commission of Ontario (FSCO) posted a bulletin in October outlining considerations for insurers planning to offer usage-based auto insurance programs, focusing on privacy issues and data collection. The bulletin notes information gathered by telematics technology, or other devices, for usage-based insurance pricing (UBIP), should […]
The architecture of the security most commonly underlying today's insurer-broker interface, which focuses on insurer-approved and issued passwords, removes direct control over access from brokerages to their employees. A need exists to rethink the approach to return control to brokerages, which have the legal relationship with, and accountability to, the carrier.
September 30, 2013
Finding the right combination to fight insurance fraud requires a mix of conventional rules-based systems and advanced predictive analytics. Achieving this real-time intelligence on potentially fraudulent claims via sophisticated combinations of rules and analytics is the next frontier of significant bottom-line improvement.
Canada's insurance industry is stable, but challenges remain. Consider the ongoing effect of low interest rates, regulatory demands, Ontario auto and, of course, developing technologies.
Vehicle safety features are fast becoming standard equipment on new vehicles. But does a lack of awareness of the features, how they work and what they do threaten to downgrade their potential as crash-prevention tools?
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