A client’s personal information is gold to the P&C industry, which relies on data collection and analysis to make a profit. A report on how brokers and insurers are working together to safeguard the industry’s hot new currency — data.
February 1, 2020
9 min read
An Ontario resident approached a direct writer for an auto insurance quote in March 2005. A new customer, the man gave the insurer his name, date of birth, vehicle information and property information. Upon receiving the quote, he took his auto insurance business elsewhere. Little did he know, the insurer would retain his data for […]
By David Gambrill | February 1, 2020
9 min read
If you are placing commercial cyber coverage, pay attention to what the various insurers’ policies say about war and terrorism, a commercial broker advises. “I would not say it’s an obscure little corner of your insurance policy,” Tom Srail, executive vice president of the cyber risk team at Willis Towers Watson, said Thursday of war […]
By Greg Meckbach | January 31, 2020
3 min read
Risk managers accustomed to a buyer’s market for commercial cyber insurance might discover soon the party is over. “We are starting to see rates harden,” Lindsey Nelson, U.K. and International Cyber Team Leader for CFC Underwriting, said Thursday. She was speaking as a panelist on Quarterly Cyber Risk Trends: 2019 Wrap-up, a webinar hosted by […]
By Greg Meckbach | January 30, 2020
2 min read
Here’s a crazy thought: What if customers bought or leased vehicles directly from an insurer instead of going to an auto dealership? Insurers are exploring such a scenario right now, Sven Roehl, co-founder of Cookhouse Labs in Toronto, told Canadian Underwriter in an interview Monday. Founded in February 2017, Cookhouse Labs is an open innovation […]
By Jason Contant | January 29, 2020
2 min read
VICTORIA – Vancouver is poised to join most major cities in Canada in offering ride-hailing services with the long-awaited approval Thursday of licences for companies Uber and Lyft to operate in British Columbia’s Lower Mainland and Whistler. The independent Passenger Transportation Board said the next steps for Uber and Lyft before getting vehicles on the […]
By Jason Contant | January 24, 2020
4 min read
Cyber insurers need to get a firmer handle on cyber claims response to be able to add value to their policies, a specialist insurer said recently. James Burns, cyber product leader with London, U.K.-based CFC Underwriting, said that the industry has seen lots of innovation in the area of wordings and what the actual coverage […]
By Jason Contant | January 23, 2020
3 min read
This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Author: Victoria Lemieux, Associate Professor, Archival Science and Founder & Co-Lead of Blockchain@UBC, University of British Columbia Just before the new year, approximately 15 million Canadians […]
By Jason Contant | January 23, 2020
5 min read
Brokers looking for a relatively cheap way of upping their game online should check some of the hundreds of insurtechs on the market, but it’s important to know what those insurtechs do and do not provide. If you are a broker shopping for technology offered by insurtechs, you have something on the order of 1,000 […]
By Greg Meckbach | January 22, 2020
2 min read
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