Operations
The insurance industry set itself up for a public relations disaster when it comes to business interruption claims, and it should be prepared to be called out more often on the name given to the coverage, says one risk researcher. Calling it “business interruption” when the product wouldn’t actually cover some business interruption events was […]
By Adam Malik | May 14, 2020
4 min read
Part One explored why people buy online, and digital advantages. Now we look at whether or not the insurance product has become commoditized. As digital marketplaces continue to commoditize products, it’s time to look at this industry and wonder if insurance is a commodity. In the first part of this analysis, we examined why […]
By Adam Malik | May 13, 2020
3 min read
Hub International Limited announced Wednesday it has acquired Vestas Financial Services Firm Inc., a Montreal property and casualty brokerage whose target markets include architects and engineers. Chicago-based Hub, which was formed in 1998 through the merger of 11 Canadian brokerages, placed fifth worldwide on A.M. Best Company Inc.’s list of brokerages ranked by 2018 revenue. […]
By Greg Meckbach | May 13, 2020
1 min read
In the first of a two-part series, we look at what pushes people to buy online and how today’s digital realities push insurance towards commoditization Insurance markets are betting Generation Z will drive the purchasing of insurance policies online. Gen Z — those born between the last 1990s to the early 2010s — is coming […]
By Adam Malik | May 12, 2020
The novel coronavirus has seemingly put all businesses in Canada, including the P&C industry, in a long-term holding pattern that that is likely to last until a vaccine is available. That could be anywhere from one to two years, according to various published reports. That feels like an awfully long time. It has been “only” […]
By David Gambrill | May 11, 2020
One long-term impact of the novel coronavirus pandemic may be an uptick in the sale of commercial cyber insurance policies, industry experts predicted during a recent Canadian Underwriter webinar. In addition, the pandemic may provide an opportunity for brokers to promote the sale of standalone cyber policies. One webinar panellist noted standalone policies generally provide […]
By David Gambrill | May 8, 2020
Living and working during a global pandemic is new to everyone. The executive team of Edmonton-based Leibel Insurance Group shares their best advice about how to work from home successfully. – As told to Adam Malik Create a routine. That’s the first thing you want to establish when you work from home. The COVID-19 pandemic […]
May 8, 2020
2 min read
Most property and casualty insurance brokers have been working remotely from home for nearly two months, managing a crush of client needs during the novel coronavirus pandemic. In doing so, they have provided a lesson in trust. Serving customers successfully doesn’t come down to where brokers work: They can accomplish just as much at home […]
By Adam Malik | May 7, 2020
How will the deal between Aon and Willis Towers Watson affect brokers in Canada?
May 7, 2020
How the brokers’ pandemic response accelerated their conversion to digital, thereby enhancing their value to consumers
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