Industry
Predicting losses from wildfire is more difficult than for other natural hazards like wind and earthquake, a risk control expert for one insurer suggests. Catastrophe models that predict losses come from research on how wind and ground motion affects buildings, noted Scott Steinmetz, global head of risk control for MidCorp at Allianz Global Corporate & […]
By Greg Meckbach | August 9, 2019
2 min read
Aviva Canada has turned its financial results around over the past year, with a dramatic 7.1% drop in its combined ratio in the first half of 2019 compared to the same period last year. Aviva’s Canadian business reported a 97.5% COR in the first half of this year, compared to a COR of 104.6% over […]
By David Gambrill | August 8, 2019
4 min read
When nearly half of your time is taken up doing mundane – but essential – tasks, one expert believes it’s time to embrace a better way. Carlos Benfeito, Montreal-based head of insurance products at Element AI, noted that about 40% of an underwriter’s job is taken up by manual data entry and evaluation. Think of […]
By Adam Malik | August 8, 2019
Paul Mlodzik has left The Co-operators Group Ltd. to oversee a new division at Saskatchewan Government Insurance (SGI). He is now executive vice president and chief customer officer of SGI’s newly-formed customer, communications and marketing division. It’s his second time working for a provincial crown corporation insurer. The new SGI division will link SGI’s customer, […]
August 8, 2019
VANCOUVER – A wildfire burning in steep and rocky terrain in British Columbia’s southern Okanagan is defying containment efforts and has grown to nine square kilometres in size. BC Wildfire Service maps show flames are moving through an area of cliffs and other challenging terrain on the east side of Highway 97 and officials say […]
By The Canadian Press | August 7, 2019
Say a commercial insurance policy stipulates that a coverage dispute lawsuit cannot proceed unless the client launches it within a year of discovering the loss. What happens if there is business interruption both before and after start of the limitations clock? The question is not whether the client is continuing to suffer a loss or […]
By Greg Meckbach | August 7, 2019
An online-only brokerage is working on an artificial intelligence tool that would alert staff if a client whose situation has changed could now get a better deal on their insurance. Magreth, Alta.-based surex.com Ltd. recently developed a prototype of an AI tool for the renewal process for home and auto customers, said Matt Alston, surex.com’s […]
3 min read
High loss ratios are creating a cascading series of negative effects and its time to do something about it, says one insurance professional. One way is to loosen the tight grip of regulation around auto insurance, said Justin Thouin, co-founder and chief executive officer at LowestRates.ca. It’s clear the industry is suffering and insurance companies […]
By Adam Malik | August 6, 2019
VANCOUVER – A wildfire discovered Sunday evening north of Oliver, B.C., in the district of Okanagan-Similkameen has prompted an evacuation alert for several properties and the Osoyoos Indian Band. The regional district is advising residents to take proactive measures to prepare for an evacuation order in case the blaze, dubbed the Eagle Bluff fire, grows. […]
By Greg Meckbach | August 6, 2019
Peter Weightman, head of Intact’s specialty unit, shows how the company’s 2017 acquisition of OneBeacon created opportunities in the U.S. for Canadian brokers.
By David Gambrill, Editor-in-Chief | August 2, 2019
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