Operations
After a bit of a lull in M&A announcements in the Canadian property and casualty space since the beginning of the year, it looks like the market for P&C brokerages and employee benefits solutions remains strong. Deals seem to be announced around the beginning of the month. There were a handful of transactions at the […]
By Jason Contant | March 6, 2020
3 min read
HR
With the number of coronavirus cases increasing in Canada and “coronavirus anxiety” now a reality, there are some strategies insurance professionals can take to ensure their teams continue to collaborate effectively and maintain momentum in the business. Among those strategies is to spell out goals and roles, emphasize personal interactions and to normalize new work […]
Tech
OTTAWA – Canada and the United States are working together to make their high-tech military equipment less hackable, top defence officials said in Ottawa Thursday, but they have a lot of work to do. Speaking to the Ottawa Conference on Security and Defence, Ellen Lord, the U.S. undersecretary of defence for acquisition and sustainment, suggested […]
The convergence of healthcare and technology could have a knock-on effect for the Canadian property and casualty insurance industry, a specialty insurer said recently. “For healthcare providers, they can largely model what the risks have been for the last 100 years because they haven’t changed,” Tim Boyce, healthcare team leader with London, U.K.-based CFC Underwriting […]
By Jason Contant | March 5, 2020
2 min read
Recent advances in cybersecurity, driven in part by a spike in venture capital funding, are helping insurers price cyber more accurately, an insurance industry consultant suggests. “There is a huge advancement around the use of artificial intelligence and advanced analytics techniques to better identify, detect, and prevent cyber intrusions,” said Keegan Iles, national insurance consulting […]
By Greg Meckbach | March 4, 2020
Brokers who can best balance online distribution with personal advice will reap the benefits in the current merger and acquisition (M&A) environment, a brokerage M&A expert noted recently. “In Canada, brokers have generally been successful in defending against pure direct insurance distribution models,” Mike Berris, a partner with Vancouver-based Smythe Advisory, wrote in a blog […]
By Jason Contant | March 4, 2020
Legal / Regulation
A B.C. broker has been banned from holding a licence for five years and fined $5,000 for committing insurance fraud. The province’s broker regulator, the Insurance Council of B.C., found that Martin Hroch submitted 74 false insurance claims for physiotherapy services through his brokerage’s health and wellness program over a 13-month period. “The amount claimed […]
By David Gambrill | March 4, 2020
A sharp rise in venture capital funding to Canadian fintechs has spawned investments in technology intended to improve property and casualty claims management, the insurance leader with PwC Canada suggests. “There has been a broad-stroke move to have significantly more investment in new distribution channels, opportunities or related technology,” Keegan Iles, national insurance consulting leader […]
By Greg Meckbach | March 3, 2020
Insurance Bureau of Canada (IBC) has issued a series of policy recommendations to help improve the affordability of strata insurance in British Columbia, some of which touch upon suggestions made by the province’s broker association. IBC’s recommendations include: Last month, Canadian Underwriter asked Chuck Byrne, the executive director and chief operating officer of the Insurance […]
By Jason Contant | March 2, 2020
Nathan Rose, a senior underwriter with Burns & Wilcox, shares how emerging trends in cyber will lead to untapped business opportunities.
March 2, 2020
5 min read
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