Industry
Properly segmenting data within an “ocean” of information can make the difference between champ and chump, speakers suggested at KPMG’s recent insurance conference. “I think the biggest change that most people are grappling with is the amount of data that has become available,” Colm Holmes, president and CEO of Aviva Canada, said Dec. 6 during […]
By Greg Meckbach | December 10, 2018
2 min read
Impaired drivers need more than just speculation to prove that a breathalyzer test may not be valid – they must put forward evidence to prove it, the Supreme Court of Canada has ruled. The decision is of interest to the insurance industry in part because it raises the standard for impaired drivers to challenge their […]
By David Gambrill | December 7, 2018
3 min read
CORRECTION: An earlier version of this story incorrectly stated that A.M. Best had changed its outlook for the global reinsurance sector from ‘Stable’ to ‘Negative.’ In fact, the outlook changed to ‘Stable’ from ‘Negative.’ Canadian Underwriter apologizes for the error. A.M. Best has changed its outlook for the global reinsurance segment to stable from […]
The number of people employed by property and casualty insurers in Canada has dropped slightly over the past 10 years but increased from 2016 to 2017, a study released Tuesday says. The total number of people working for P&C carriers in Canada was 112,466 last year. This was up 11.5% from 100,847 in 2016 but […]
By Greg Meckbach | December 4, 2018
Alister Campbell, a 30-year industry veteran, has been appointed president and CEO of the Property and Casualty Insurance Compensation Corporation (PACICC), effective Feb. 4, 2019. Campbell’s appointment marks the retirement date of PACICC’s long-time president and CEO, Paul Kovacs, who will continue to serve as executive director of the Institute for Catastrophic Loss Reduction (ICLR). […]
By Jason Contant | December 3, 2018
When it comes to workplace diversity, Canada’s property and casualty insurance industry could use a bit of a boost. Statistically, the industry is lagging behind other Canadian workplaces when it comes to diversity. What would it take to bring more international recruits into its ranks? Not as much as you might think. Canadian Underwriter recently […]
December 1, 2018
9 min read
Consolidation could potentially wind up regenerating Canada’s broker channel generally and managing general agents (MGA) specifically, a senior executive told delegates attending the 2018 MGA Symposium in Toronto on Tuesday. Organized by insurance-canada.ca, the event featured a panel of MGA executives who were asked for their views about consolidation in the Canadian property and casualty […]
By David Gambrill | November 27, 2018
Would directors’ and officers’ liability costs be lower if Canada had a national securities regulator? D&O liability insurance kicks in when shareholders go to court alleging a company misrepresented the true state of its financial affairs at the time they bought their shares. Shareholders’ misrepresentation lawsuits are often filed against the same defendants in multiple […]
By Greg Meckbach | November 26, 2018
Eileen Mercier, a member of the board of directors of Intact Financial Corporation, was named one of Canada’s 100 most powerful women this week by the Women’s Executive Network. Mercier, 70, has been on Intact’s board since 2004. The 100 winners are “proven achievers who are strong contributors to their organizations, their fields of endeavour […]
By Greg Meckbach | November 23, 2018
TORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an in-house “red team” of ethical hackers _ cybersecurity professionals who attempt to hack a computer […]
4 min read
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