Tech
Silent cyber has long been a thorn in the side of some insurers, and it doesn’t look like the issue will be resolved any time soon. Part of the issue is that the cyber market doesn’t exist to cater to traditional assets being compromised by new technologies, said James Burns, cyber product leader with CFC […]
By Jason Contant | January 20, 2020
3 min read
LONDON – Google’s chief executive called Monday for a balanced approach to regulating artificial intelligence, telling a European audience that the technology brings benefits but also “negative consequences.” Sundar Pichai’s comments come as lawmakers and governments seriously consider putting limits on how artificial intelligence is used. “There is no question in my mind that artificial […]
2 min read
Technology could make it easier to start up new managing general agents – which is good news for some and bad news for others, panelists suggested during a recent webinar. “If you [as an MGA] are sitting there thinking, ‘Oh I do this through my 30 years of expertise and the relationships I have built […]
By Greg Meckbach | January 17, 2020
HR
It’s no secret that there is a war for talent in Canada’s property and casualty insurance industry. But before you look outside your brokerage or insurance company for talent, take a look inside, advises Tomas Chamorro-Premuzic, the chief talent scientist at workforce solutions company ManpowerGroup and Jonathan Kirschner, a business psychologist and founder and CEO […]
By Jason Contant | January 17, 2020
Operations
Western Canadian independent insurance brokerage CapriCMW Insurance Services Ltd. announced Monday it has expanded into Yukon with the acquisition of an office from Aon Reed Stenhouse Inc. The longstanding Aon office at 201-9016 Quartz Road in Whitehorse will begin operating as CapriCMW, effective March 2, CapriCMW said in a press release. It is CapriCMW’s 15th […]
By Jason Contant | January 14, 2020
Will cyber insurance products ever become completely standardized? While aspects of cyber insurance, such as language around data breach, have become more standardized, there is still an overall lack of standardization across the line. Canadian Underwriter has also heard suggestions that brokers want standardization, but insurers don’t. So how do brokers approach a sale with […]
As tension continues to rise in the Middle East, brokers might want to start asking clients questions about travel plans – if they aren’t already. “After recent events in Iran and Iraq, Burns & Wilcox has been getting questions from brokers looking to offer war/terrorism risk insurance for clients travelling to areas at high risk […]
By Greg Meckbach | January 14, 2020
With the wind-down of Ontario’s limited Out-of-Country Travellers Program now official, brokers in the province who sell travel insurance have a golden opportunity to make sure their snowbird and other travelling clients are properly covered for trips. “It is certainly an opportunity for brokers to cross-sell to some of their existing book at renewal time,” […]
By David Gambrill | January 13, 2020
4 min read
As society becomes more accustomed to paying its bills using modern electronic methods, how should brokers respond? “For the new consumer, they are so used to paying in many many different ways. We should be allowing customers to engage on their terms. Not on our terms,” said Danish Yusuf, co-founder and CEO of commercial brokerage […]
By Greg Meckbach | January 13, 2020
NFP Corp. has concentrated almost exclusively in Ontario since it first entered into the Canadian property and casualty insurance space about two years ago, but expect that to change in the future. NFP is looking to have “a bigger presence out west, a good presence in Quebec and to move out to the east coast […]
By Jason Contant | January 10, 2020
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