Industry
With insurers’ returns on equity lower than normal, it’s anyone’s guess how much longer your clients are going to see price increases. “Through 2020 we will see rate increases,” said Jim Auden, Chicago-based managing director of North American Insurance at Fitch Ratings, in an interview on Thursday. How long price increases continue depends on whether […]
By Greg Meckbach | November 21, 2019
2 min read
If your client is a commercial real estate building owner or manager in Canada, there are some major retrofits they can take to improve their flood resilience. While many of the measures – such as elevating and flood-proofing critical equipment, isolating electrical circuits and electrical panel upgrades – may be cost-prohibitive to implement post-construction, they […]
By Jason Contant | November 20, 2019
3 min read
Being a commercial broker in today’s environment is presenting unique challenges as some markets are feeling the effects of a difficult cycle more than others, says one broking leader. The current market isn’t a hard one in a traditional sense, said Paul Croft, who was recently named a CIP Society’s National Leadership Award winner and […]
By Adam Malik | November 20, 2019
Barbara Bellissimo, former chief agent and senior vice-president of State Farm Canada and chair of the board of the Institute for Catastrophic Loss Reduction, is retiring from Desjardins at the end of this year. She is currently senior vice-president of the Desjardins Agent Network, a position she has held since Desjardins acquired the Canadian operations […]
By Greg Meckbach | November 20, 2019
Many drivers in British Columbia are not taking proper precautions to get their vehicles ready as winter weather hits, despite admitting they’re nervous about driving in icy and snowy road conditions, according to a new survey. The British Columbia Automotive Association’s (BCAA) Winter Driving Survey found that 43% of respondents said they’re worried about being […]
By Adam Malik | November 19, 2019
Toronto’s top cop has admitted that having fewer traffic officers has led to an increase in collisions and deaths on city streets. Insurance industry data backs that up, and Insurance Bureau of Canada (IBC) hopes a concerted effort that includes education on top of a new enforcement initiative will help in reducing crashes that are […]
By Adam Malik | November 18, 2019
It doesn’t matter if you’re a broker, adjuster or underwriter, specialization will be essential for anyone working in the insurance industry going forward, says one industry expert. With the growth of the shared and gig economies, new challenges are emerging that can’t be handled in a ‘jack-of-all-trades-but-master-of-none’ manner, Ernest Mashingaidze, who works in property claims […]
By Adam Malik | November 16, 2019
Commercial property, umbrella, and public company directors and officers (D&O) lines are expected to see the most widespread rate hikes of 20% and higher, in addition to capacity withdrawals, according to Willis Towers Watson’s Insurance Marketplace Realities 2020 report. The report, released Wednesday, offers property and casualty industry analysis and rate forecasts for North American […]
By Jason Contant | November 16, 2019
TD is enhancing its digital offerings to consumers and putting greater emphasis on the customer experience as a way to increase its footprint; to do that, providing relevant advice will play a key role in building trust, the company says. TD wants to “instill customers with the right trust and confidence that they are getting […]
By Adam Malik | November 13, 2019
Ontario’s new financial services regulator plans to issue a revised guideline on fair treatment of customers over the next few months to help counter confusion over which guidelines to follow. Last year, the former provincial regulator, Financial Services Commission of Ontario (FSCO), released guidance on fair treatment of customers around the same time that guidance […]
By Jason Contant | November 12, 2019
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