Industry
In a new report, Moody’s said the outlook for the reinsurance industry has shifted from negative to stable amid expectations of higher profits and solid capital over the next couple of years. “Healthy price increases will drive stronger earnings through 2022 as the post-pandemic economic recovery and recent significant catastrophe losses fuel fresh demand for […]
By Jason Contant | September 8, 2021
2 min read
In a world where many insurance brokerages offer the same products, trying to stand out can be a challenge. “One of the main things we’ve been trying to do more of — especially in the last year or so — is to have more presence on social media,” said Crista Costen, owner and president of […]
By Melissa Shin | September 8, 2021
Once confined mostly to “hail alley” regions such as south and central Alberta, Texas and Colorado, hailstorms are now doing damage across North America in plenty of regions considered low-risk, says a new white paper from RIMS, the risk management society. “Hail patterns are changing,” said Hail Risk: Assess Your Exposure as Storms Intensify and […]
4 min read
OTTAWA – The Bank of Canada kept its key interest rate target on hold Wednesday as it warned the fourth wave of the pandemic and supply bottlenecks could weigh on the economic recovery. The central bank held its target for the overnight rate at 0.25 per cent, what it calls the effective lower bound, and […]
The ‘Triple As’ of strategic agility — avoid, absorb and accelerate — are distinct ways that successful companies navigated the COVID-19 pandemic, according to a recent blog from Harvard Business Review. Companies such as Airbnb that not just survived by thrived amid disruption did so by being nimble enough to avoid the worst impacts. When […]
By Jason Contant | September 7, 2021
Correction: This article has been corrected to reflect that Coalition Canada has not sub-limited its ransomware coverage. We regret the error. The cyber insurance industry is battling “a perfect storm between widespread technology risk, increased regulations, increased criminal activity and carriers retracting coverage,” a Canadian cyber insurance provider has said. “If the events of the […]
By Melissa Shin | September 7, 2021
3 min read
An intense storm that swept through parts of Regina and elsewhere in Saskatchewan last week has resulted in more than 7,200 claims to date, the province’s government auto insurer said Tuesday. The Aug. 31-Sept. 1 storm brought golf ball-sized hail along with strong winds and rain, said Tyler McMurchy, manager of media relations with Saskatchewan […]
TORONTO – Canadian auto sales continued to struggle last month, falling 11.4 per cent from the prior year, driven by vehicle shortages caused by semiconductor supply issues. According to estimates compiled by DesRosiers Automotive Consultants, Canadian light vehicle sales totalled 146,925 units in August, compared with 165,837 a year earlier. Sales were also down 19.2 […]
By The Canadian Press | September 7, 2021
1 min read
PRESCOTT, Ont. – Two freight trains collided in eastern Ontario on Thursday, leaving one person with minor injuries. Authorities said the collision between two CN Rail trains took place near Prescott, Ont., and also resulted in a minor fuel leak from one locomotive. The Transportation Safety Board said it was deploying a team of investigators […]
By The Canadian Press | September 3, 2021
With more and more property and casualty insurance brokerages moving into the employee benefits (EB) space, there is a need to have an integrated technology solution, tech vendor Applied Systems said recently. “We know our P&C customers are moving further and further into the EB space,” Applied CEO Taylor Rhodes said during the Applied Net […]
By Jason Contant | September 3, 2021
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