Industry
OTTAWA – The Bank of Canada is keeping its key interest rate target on hold as it raises its outlook for economic growth this year. The key rate remains at 0.25 per cent where it has held steady for more than a year. The decision came as the Bank of Canada raised its prediction for […]
By Jason Contant | April 21, 2021
3 min read
To provide an excellent customer experience for your clients, data can only take you so far, the digital director of a brokerage said recently during the CIP Society Symposium’s virtual conference. Sometimes brokers simply have to hit the pavement to find out directly what their clients want. “Data might not give you the whole picture,” […]
By Jason Contant | April 20, 2021
Insurance companies are in the crosshairs of a new set of cyberattacks, prompting a cyber leader to ring alarm bells for Canadian insurers. The vulnerability lies in the P&C industry wanting to make life easier for consumers, explained Matt Cullina, Sontiq’s head of global insurance business. Sontiq recently acquired CyberScout. Many insurers these days are […]
By Adam Malik | April 20, 2021
Keeping staff engaged and stimulated when life returns to something resembling the old normal will be a top challenge for property and casualty insurance industry leaders, experts say. After the COVID-19 pandemic, the Canadian P&C industry is expected to implement various individual iterations of a hybrid work model. With a mix of people working from […]
By Adam Malik | April 19, 2021
Pay-as-you go insurance demonstrates that auto insurance clients can’t be grouped into a one-size-fits-all solution, says an insurance company exec. CAA president Matthew Turack believes his company’s MyPace product, in which insurance coverage is based on distance driven, shows that customers want to go beyond standard auto policies because they all have different needs. When […]
By Adam Malik | April 16, 2021
For now, little evidence exists that courts will adjudicate against Canada’s property and casualty insurers in litigation related to business interruption claims stemming from the COVID-19 pandemic, according to an industry executive. At the recent CIP Society Symposium 2021 virtual conference, Alister Campbell, president and CEO of the Property and Casualty Insurance Compensation Corporation (PACICC), […]
A trickle of supply started returning to the country’s real estate sector in March, but it did little to cool off heated markets as monthly home sales hit an all-time record, the Canadian Real Estate Association said Thursday. Sales across the country amounted to 76,259 last month, up 76.2 per cent from 43,283 during the […]
By Adam Malik | April 15, 2021
It appears ransomware victims are less willing to give in to cybercriminals and pay up, according to a recent report by ransomware incident response platform Coveware. Commercial clients are considering the tradeoffs and are increasingly opting not to hand over the cash, Coveware says in its report. The average ransomware payment dropped by more than […]
FREDERICTON — New Brunswick’s premier is urging truck drivers to get vaccinated against COVID-19 as soon as possible, but the head of a regional trucking association says it’s not that simple. Blaine Higgs told reporters Tuesday only about 800 of the 3,500 truck drivers in the province have received a first dose despite the fact […]
By Adam Malik | April 14, 2021
Insurers are between a rock and a hard place when it comes to changing the way they do business, because of the risk of harming broker relationships, investment costs, and, at the end of the day, the current system works, observed a brokerage leader in a recent webinar. Danish Yusuf, CEO and founder of Zensurance, […]
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