Risk
Travelers Companies, Inc.'s acquisition of The Dominion of Canada General Insurance Company in early June put an abrupt end to a relatively quiet period for insurance company mergers and acquisitions activity. Analysts say there is room for far more consolidation in the Canadian property and casualty insurance industry, although the pace will be uneven and the targets unpredictable. A growing concentration of larger players dominating the market will affect parties ranging from reinsurers to brokers.
By Craig Harris | June 30, 2013
12 min read
A recent survey of Allianz experts around the globe shows that businesses take some risks very seriously, but widely underestimate others. Among the latter are the risks of power outages and cyber crime.
By Thomas Varney | June 30, 2013
6 min read
It is too early to put firm numbers to the hard reality delivered by heavy rain that produced what some suggest is the worst flooding ever in southern Alberta. The lack of numbers, though, has not dampened calls over the need to make changes.
By Angela Stelmakowich, Editor | June 30, 2013
7 min read
Results from a survey sponsored by Zurich Insurance confirms that companies around the world recognize that natural catastrophes pose potential risks, but that has not necessarily translated into having sufficient mitigation processes in place.
By Leszek Bialy | June 30, 2013
Restoration contractors are dealing with changing times: margins are getting squeezed as costs outpace revenues from insurance claims, a review is in the works to get a fix on using software to estimate project costs, and some contractors are facing increased competition from general contractors.
By Greg Meckbach, Associate Editor | June 30, 2013
5 min read
Sewer back-up claims following urban flooding, a growing problem across the country, can produce considerable insured damages. However, this high toll can be reduced through provincial building and plumbing code interpretation.
By Dan Sandink, Institute for Catastrophic Loss Reduction (ICLR) | June 30, 2013
Moves and Views 1 Crawford & Company (Canada) Inc. recently announced that Pat Van Bakel [1a] is its new CEO, replacing John Sharoun [1b]. Van Bakel, a claims adjuster who was appointed Crawford Canada’s chief operating officer (COO) in 2012, has been with the company for more than 20 years. Before being named COO, he […]
June 30, 2013
There appears to be little argument: mobile devices have become a normal part of everyday life and incorporating their use into the business side of insurance is not only advisable for brokers, it is imperative. But are brokers ready to take a mobile leap toward real-world business applications? And what must be done to successfully ride the wave of customer expectations?
By Angela Stelmakowich, Editor | May 31, 2013
The one-size-fits-all approach of current risk modelling precludes customization for specific books of business. What is needed is a more advanced level of catastrophe risk understanding, which will move risk modelling to true risk management.
By Karen Clark | May 31, 2013
The insurance industry has used predictive analytics for underwriting, rating and claims for years. Now, a growing number of municipalities are using the same techniques for a different purpose: road safety.
By Craig Harris | May 31, 2013
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