Industry
Market conditions have led to broken talent pipelines which, in turn, have had a negative effect on companies being able to have a proper diversity, equity and inclusion (DE&I) program, a financial executive told a group of risk managers recently. The market implosion, a byproduct of pandemic-induced business lockdowns, is at least partially responsible for […]
By Adam Malik | May 20, 2021
3 min read
Employers in the Canadian P&C insurance industry must shift their role to supporting employees and their families following more than a year of working from home to prevent the spread of COVID-19, Hub International speakers said during a webinar Wednesday. “We know that if employers take care of their employees, the employees will take care […]
By Jason Contant | May 20, 2021
Economical Insurance has “overwhelming support” from policyholders to demutualize. This is the result of the third and final policyholder vote, held Thursday. “We expect to be a public company by the fall of this year,” Economical Insurance CEO Rowan Saunders said in an interview with Canadian Underwriter after the vote. This means that Waterloo, Ont.-based […]
By Greg Meckbach | May 20, 2021
4 min read
When acquiring talent, organizations should consider using employee data to glean insights into the best internal hires for their teams, one tech vendor suggests. There has been some debate within the Canadian P&C industry about whether to look outside the company — or even the entire industry — to acquire talent. But ZL Technologies Inc., […]
By Jason Contant | May 19, 2021
Liberty Mutual Canada veteran Rob Marsh will become the company’s new president, effective next week. Marsh will succeed Garth Pepper, who will be moving up the company’s ladder to take the role of president of global risk solutions for the North American middle market. Reporting to Pepper, Marsh officially takes over his new role on May […]
By Adam Malik | May 19, 2021
2 min read
TORONTO – A new report says North American manufacturing companies are increasingly targets for cybercriminal gangs that use malicious software to shut down businesses if they don’t pay a ransom. Research from Toronto-based eSentire says that six known criminal gangs hit at least 292 new victim organizations globally in 2021 so far, including Montreal-based Bombardier. […]
By The Canadian Press | May 19, 2021
1 min read
The number of customers looking to insure an electric vehicle (EV) is rising, which is having a ripple effect on auto carriers due to the increased cost to insure these vehicles, according to a recent report from LowestRates.ca. Year-over-year, there was a 146% increase in the number of car insurance quotes for electric vehicles in […]
By Jason Contant | May 18, 2021
Intact’s market share could approach 30% before it potentially runs into resistance from domestic competition regulators, a senior executive suggested Tuesday. After the closure of the three-way deal for Intact and Tryg A/S to acquire RSA plc, Intact will have “just north of 20% market share” in the Canadian P&C market, said Darren Godfrey, senior […]
By Greg Meckbach | May 18, 2021
PRINCE ALBERT, Sask. – Dry conditions and strong winds caused a large wildfire to grow Tuesday near Saskatchewan’s third-largest city even as firefighters fought the flames. “The fire continues to rage,” said Prince Albert Mayor Greg Dionne. The city of about 40,000, about 140 kilometres northeast of Saskatoon, is no stranger to wildfires, but Dionne […]
By The Canadian Press | May 18, 2021
Brokers exploring new ways to protect their commercial clients should be making “malicious attack” coverage part of the conversation, a risk expert advises. But it can be a tricky conversation for brokers to have. Clients may think they can’t afford insurance for what they perceive as rare incidents that could shut down their business, said […]
By Adam Malik | May 17, 2021
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