Industry
The property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe, president of Aon Reinsurance Solutions Canada. Ensuring clients have the basics covered off means being […]
By Adam Malik | September 22, 2020
3 min read
Hundreds of productions and thousands of entertainment jobs are on hold because the federal government has yet to intervene and help them get COVID-19 insurance, say two Canadian film and television organizations. The Canadian Media Producers Association and the Association quebecoise de la production mediatique said Friday that they have identified 214 camera-ready film and […]
By Jason Contant | September 22, 2020
2 min read
When a student or recent graduate asks what they’ll be doing if they were to work in the property and casualty insurance industry, it’s important to give them a detailed sense of what any given career in the industry might entail, said John McNeil, program coordinator and full-time professor for Humber College’s insurance management program. […]
By Adam Malik | September 21, 2020
Brokers during the COVID-19 pandemic can expect to see carriers tighten up policy wordings to reduce ambiguity about pandemic cover, but that might cause delays in quota share subscription business as insurers ponder the precise wordings they want to use, a pair of national brokerage leaders warned. “Right now, there’s a focus on policy wordings,” […]
After the COVID-19 pandemic temporarily paused brokerage mergers and acquisitions (M&A) activity in Canada earlier this year, it appears that the deals are once again moving forward at a steady pace. The markets’ reaction to the pandemic has been very interesting, observes Mike Berris, a partner at Smythe Advisory, a B.C.-based property and casualty insurance […]
By Jason Contant | September 18, 2020
Specific industry risk can play a major role in how much capital an insurer is willing to put forward for commercial surety bonds, a speaker said during a recent webinar. Industry risk is a “unique” underwriting consideration, Rob Dempsey, senior vice president of commercial insurance with Gallagher, said during the Sept. 15 webinar Using Surety […]
By Jason Contant | September 17, 2020
At the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a recipe for a long and arduous hard market in real estate insurance lines, according to […]
By Adam Malik | September 17, 2020
TORONTO – North American stock markets climbed amid positive signals in Canada and elsewhere about the strength of a post-pandemic rebound. The good mood started with Chinese retail sales numbers moving back into positive terrain compared with a year earlier. Industrial production accelerated in the U.S., business confidence was stronger than expected in Germany and […]
Insurers should be tailoring their claims payment options to the type of claim a policyholder has, a U.S. payment provider said during a recent webinar. “If it’s a disaster, [a policyholder] may need money immediately to go get a hotel room or to buy necessities,” said Jeff Brown, president of Plano, Tex.-based claims payment provider […]
By Jason Contant | September 16, 2020
Riding the wave of high interest rates years ago, some P&C insurers and reinsurers overlooked their escalating combined ratios, an industry exec recently observed during a webinar. And that’s coming back to bite the industry now that the global COVID-19 pandemic has plunged interest rates to near-zero levels. The decline in interest rates as been […]
By Adam Malik | September 16, 2020
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