Operations
Brokers in British Columbia are temporarily allowed to conduct insurance transactions such as vehicle insurance renewals by phone and email during the novel coronavirus (COVID-19) pandemic. Measures are also being put in place to verify the identity of the customer to combat fraud. Last month, the government of British Columbia said it would institute a […]
By Jason Contant | April 23, 2020
4 min read
Returning to some sort of normalcy is still some time away, according to one economist. And rushing to do so would likely be worse than waiting. It’s best, experts argue, to wait for public health officials to give the green light to return rather than governments forcing businesses to re-open when dangers are still present. […]
By Adam Malik | April 22, 2020
The Canadian property and casualty insurance industry is okay — for now. But the longer the global COVID-19 pandemic drags on, the greater the risk that the economic fallout and financial instability will impact the industry’s financial position, warns MSA Research CEO Joel Baker. “The industry entered 2020 well-capitalized and in strong enough shape to withstand […]
By Adam Malik | April 20, 2020
As the economic fallout from the COVID-19 pandemic continues during a hard market cycle, the solution to consumers’ woes may not be as simple as providing premium relief, one Quebec broker says. “We’re not seeing premium relief from insurers to date, but I don’t think it’s that simple,” said Curtis Killen, president of brokerage KBD […]
By Jason Contant | April 17, 2020
3 min read
Sports equipment maker Bauer made headlines when it announced it would shift its production to making face shields for front line employees deemed essential during the COVID-19 pandemic. Behind the scenes helping to make it possible was its broker, BFL Canada, and its insurer Zurich Canada. The P&C organizations teamed up to make sure Bauer’s […]
By Adam Malik | April 17, 2020
George Hodgson was blunt in his observation of what would happen if fears of a 25% unemployment rate come true in his province. “It’ll be horrendous,” the CEO of the Insurance Brokers Association of Alberta told Canadian Underwriter of the potential that at least quarter of the province’s workforce — half a million people — […]
By Adam Malik | April 15, 2020
Companies developing a business impact analysis (BIA) plan need to understand the amount of time the organization can function without producing a particular product or service, a senior executive with Hub International said recently. “We need to ask and answer some key questions about how long we could go without a particular function or process,” […]
By Jason Contant | April 14, 2020
Your employees may be struggling in a work-from-home environment, so it’s essential to check in with them to make sure they’re adjusting well, say brokerage leaders. Ensuring regular communication can go a long way to keeping their mental health strong. Travis Murray is the chief operating officer of Leibel Insurance Group in Edmonton. He told […]
By Adam Malik | April 13, 2020
Some brokers will be getting their commission payments sooner from Travelers Canada, the company announced just before the Easter weekend. The move is being applauded by the Insurance Brokers of Canada (IBAC). Those who are on an annual payment system as outlined in their contract will be getting a percentage of their payments ahead of […]
2 min read
Brokers advising clients on cyber insurance during the COVID-19 pandemic will want to make sure there is an appropriate loss of income coverage under the policy, similar to other lines of insurance, a specialist insurer said recently. “If we were to say any time is the right time to buy a cyber policy, now would […]
By Jason Contant | April 8, 2020
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