Operations
With the May long weekend just around the corner, many Canadians will be packing their bags and heading up to the cottage, but a post-pandemic surge of demand may mean a lot of cottage rentals, and some important points of coverage — such as exclusions for damage caused by renters — may easily be overlooked. […]
By Alyssa DiSabatino | May 17, 2022
3 min read
During ‘The Great Resignation,’ industry leaders would be well-advised to focus on retention instead of focusing on recruitment,
By David Gambrill | May 16, 2022
Legal / Regulation
Ontario Liberals want to bring down auto insurance rates but not via percentage targets, as envisioned by the New Democrats. “We will also work tirelessly to bring down auto insurance rates,” said Ontario Liberal Party press secretary Andrea Ernesaks. She noted that will include “creating a neutral independent assessor [and] modernizing ‘territory ratings’ for accuracy and fairness.” Plus, […]
By Phil | May 13, 2022
2 min read
Mergers and retirements create underwriter crisis for insurers
By Phil | May 12, 2022
Brokers are justified in believing independence is shrinking due to increased consolidation in the P&C industry: broker exec
By David Gambrill | May 10, 2022
The industry’s heavy reliance on outdated legacy systems may be holding it back from modernizing, panellists note during a Canadian Underwriter webinar — and this could be a problem for attracting IT talent. “Legacy platforms are a big challenge for our industry,” says Trevor Wall, vice president of sales and distribution of business insurance at […]
By Alyssa DiSabatino | May 6, 2022
To reduce Ontario auto insurance rates substantially, fairer rating systems and offering usage-based insurance (UBI) may be most effective, says one industry observer. The Ontario government is proposing measures to reduce the cost of auto insurance. Among them, it is discussing developing a new framework for ensuring fairness in rates that would replace outdated guidance, […]
By Alyssa DiSabatino | May 4, 2022
Telematics, which allows insurance companies to measure client driving behaviour, has largely been used by carriers in the underwriting process, but it may prove to be equally as useful for claims, says one telematics provider. Claims telematics can be used to detect crashes in real-time, a step up from how the current claims process is […]
By Alyssa DiSabatino | May 2, 2022
HR
Employee development may be key to increasing worker satisfaction and increasing talent equity, suggests one panellist during the Insurance Institute of Canada’s Pivot with Purpose webinar. Instead of viewing employees as assets, companies should see them as investments, explains Trevor Buttrum, director of operations at TalentEgg. “We actually got the accounting wrong when […]
By Alyssa DiSabatino | April 29, 2022
Managers must develop different management skills for the post-COVID world, say panellists at the Insurance Institute of Canada’s Pivot with Purpose webinar. As many organizations begin their transition to a hybrid work model, companies have a responsibility to adapt their work environment to accommodate the needs of employees, suggests one panellist. “There’s a corporate […]
By Alyssa DiSabatino | April 28, 2022
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