Industry
If there’s a silver lining to the COVID-19 pandemic, it’s that the pandemic might actually aid in talent acquisition – even if that talent comes from outside Canada. It’s no secret there’s an ongoing “war for talent” in Canada’s property and casualty insurance industry. But the pandemic has allowed recruiters to leverage technology spawned by […]
By Jason Contant | October 28, 2020
3 min read
Trusting science to help address climate change, and rebuilding more resilient communities after natural catastrophes are uppermost in the mind of Aviva Canada’s leader these days. “Scientists can tell us more than ever before about catastrophic storms, including precisely when they will hit; exactly what wind speeds they will deliver and for how long; how […]
By Adam Malik | October 28, 2020
2 min read
OTTAWA – The Bank of Canada is keeping its key interest rate on hold as it says the country’s economy won’t fully recover what was lost to COVID-19 until 2022, with the road to there dependent on the path of the pandemic. The central bank is holding its overnight rate target at 0.25 per cent. […]
By The Canadian Press | October 28, 2020
1 min read
An Ontario auto insurer involved in a priority dispute with another insurer should have used a different counsel in that dispute than the one used for the main accident benefits claim with the insureds, the Ontario Superior Court has ruled. The issue came up in the case of The Personal Insurance Company v. Jia, in […]
By David Gambrill | October 27, 2020
An abundance of technology is available to prevent water damage in condo buildings, but panellists of a recent Canadian Underwriter webinar questioned why it’s not being mandated or put to use as condo claims continue to increase. Existing technology such as a water detection system can be installed, observed Jeff Rodin, president and CEO of […]
By Adam Malik | October 27, 2020
OTTAWA – The federal environment commissioner says Transport Canada’s database of where dangerous goods are stored and moved could be missing thousands of locations and contains outdated details on hundreds more. The audit reports released today say the department has made some improvements since the dangerous goods inspection regime was audited before but still doesn’t […]
By The Canadian Press | October 27, 2020
Improvements in healthcare, vehicle safety, and infrastructure design have brought down senior crash fatality rates to the point where younger drivers are now a greater risk to die in collisions than seniors, a new study has found. Historically, people aged 70 years and older were most likely to be involved in a crash and less […]
By Adam Malik | October 26, 2020
TORONTO – Under pressure to address rising commercial insurance rates blamed on the pandemic, Premier Doug Ford promised this week to take action to stop what he called “gouging” by some companies in the sector. Ford twice this week has told insurance firms to rein in what he described as “astronomical” rate increases to businesses […]
By Jason Contant | October 26, 2020
4 min read
When Bob Tisdale started his career about 40 years ago, insurers were more likely to get into financial trouble. “When I first started in this industry in the early days, I was doing commercial underwriting and there were a lot of subscription policies and just a lot of small companies around that would [accept risks] […]
By Greg Meckbach | October 23, 2020
Brokers are advised to factor in the cost of reputational harm for their commercial clients when discussing cyber policy, because that’s typically the most expensive aspect of a breach. Clients typically focus on costs related to notifying clients and forensics, but reputational harm can include greater and more long-term costs such as a drop in […]
By Adam Malik | October 23, 2020
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