Operations

How brokers in B.C. are handling fraud and auto insurance during COVID-19

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

Economic risks of returning to normal too quickly

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

4 min read

How insurance will be hurt by a lagging economy

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

4 min read

Should the hard market run its course through COVID-19?

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