HR
The biggest obstacles to creating data-based businesses aren’t technical, they’re cultural, said David Waller, a partner and head of data science and analytics for Oliver Wyman Labs. “It is simple enough to describe how to inject data into a decision-making process,” Waller wrote in 10 Steps to Creating a Data-Driven Culture, a blog published on […]
By Jason Contant | February 14, 2020
3 min read
Operations
While the Insurance Brokers Association of Canada (IBAC) is encouraging homeowners to contact brokers about earthquake and overland flood risk, it is not aiming to shock or scare the living daylights out of consumers. “We consciously chose not to use devastating images, for example – so no photographs of people traumatized in their basements waist-high […]
By Greg Meckbach | February 13, 2020
2 min read
Insurance should be mandatory for all condo unit owners in the condo corporation, an executive with the Insurance Brokers Association of B.C. (IBABC) told Canadian Underwriter Monday. “Strata/condo building managing councils should encourage their member unit owners to vote in favour of their bylaw changes to make unit owners insurance mandatory for all owners in […]
By Jason Contant | February 12, 2020
One broker association is calling for consultation among all key stakeholders to discuss owner liability in condo corporations, with a focus on proposed achievable legislative action. As condominium (strata) insurance premiums and deductibles continue to rise across the country, the Insurance Brokers Association of B.C. (IBABC) is recommending two key reforms to the Strata Property […]
By Jason Contant | February 11, 2020
Legal / Regulation
The government of British Columbia’s recent announcement that it will be removing lawyers and legal costs from the system to reduce insurance premiums by about 20% and increase care benefits has been met with approval from the provincial brokers association. However, there is a downside to the plan to reduce premiums so drastically by May […]
By Jason Contant | February 10, 2020
Tech
TORONTO – A U.S. cybersecurity company says criminal groups are exploiting fears over the new coronavirus to attack the global shipping industry. California-based Proofpoint says it has detected a new email campaign that uses Microsoft Word attachments designed to trick recipients into installing a type of malware known as AZORult. Proofpoint says criminals have been […]
1 min read
Brokers looking to achieve better connectivity with their insurer partners should focus on two core areas of their business
February 6, 2020
A startup based in Winnipeg is using near-miss data from intersections in an attempt to proactively, rather than reactively, help reduce traffic fatalities. “Up until now, traffic engineers have focused on using historical crash data that involve a fatality to program interventions,” Craig Milligan, road safety engineer and CEO of MicroTraffic, told Canadian Underwriter Friday. […]
By Jason Contant | February 6, 2020
In addition to using modern data analytics, commercial brokers can use traditional, proven risk assessment tools to help business clients understand and cope with price increases in today’s hard market, says a veteran of three hard markets. Inspections have been around for hundreds of years to help P&C insurers price correctly for commercial property risk, […]
By David Gambrill | February 4, 2020
Ransomware and privacy breaches may be among the top cyber threats on your radar, but are you aware of all of the connected manufacturing and other industrial control systems that may be at risk, a commercial insurer warns. “These production environments are highly vulnerable, in that they simply weren’t built with security in mind,” Jeff […]
By Greg Meckbach | February 4, 2020
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