Risk
A relatively new attempt to lower the risk of injury in a collision has been panned by a safety group. The Insurance Institute for Highway Safety (IIHS) recently reviewed knee airbags – something that has grown in popularity of the last decade with about half of all vehicles in 2017 being equipped with at least […]
By Adam Malik | August 12, 2019
2 min read
Is insurance a good investment? No, according to one risk manager. “I believe that insurance is the worst investment you can make,” said Stéphane Cossette, senior director of risk management with Quebecor Media Inc. in Montreal. “I actually tell people if you think insurance is an investment, let me remind you of something: for every […]
By Jason Contant | August 6, 2019
Risk managers should stop “trading dollars” with an insurer and consider increasing their deductibles and assuming some of the risk, suggested Stéphane Cossette, senior director of risk management with Quebecor Media Inc. “Get rid of the noise, get rid of all that trading dollars,” Cossette said in an interview last week. “It’s not about giving […]
By Jason Contant | July 29, 2019
3 min read
The hardening market is even affecting risk management in post-secondary institutions. One risk manager in Calgary said the challenges he is seeing are less about tightening of conditions in an insurance contract than underwriting unique exposures. The post-secondary environment has a pretty varied spread of exposures – from typical retail/dining operations to medical practices, daycare […]
By Jason Contant | July 24, 2019
Lack of alignment with the business is one of the three main reasons innovation labs fail, according to Simone Bhan Ahuja, an author, speaker and founder of innovation advisory Blood Orange. The lack of metrics to track success and lack of balance on the team are the two other reasons, Ahuja wrote Monday in a […]
By Jason Contant | July 22, 2019
Brokers should see open banking as more of an opportunity than a threat, a partner with EY Canada suggests. Open banking is a system in which consumers could consent to sharing their banking transaction data with other financial services providers, such as fintechs. “I do not particularly think it’s a threat (to brokers or property […]
By Greg Meckbach | June 21, 2019
Keep it simple. Take small bites. Don’t put your career at risk. With that as a starting point, insurance companies can start to hack their culture, said Richard Natale, senior director analyst at research and advisory firm Gartner during its recent IT Symposium/XPO in Toronto. People are creatures of habit, especially when it comes to […]
By Adam Malik | June 17, 2019
Zurich, Switzerland-based PERILS AG announced Monday that it has acquired Catastrophe Indices & Quantification Inc. (CatIQ). Established in 2014, CatIQ is widely recognized as the most reliable source of catastrophe loss and exposure information in Canada. PERILS, a subsidiary of Marsh & McLennan Companies, is an independent organization that provides industry-wide natural catastrophe exposure and […]
By Jason Contant | June 17, 2019
Ontario’s new property and casualty insurance regulator is up and running. Effective June 8, the Financial Services Regulatory Authority of Ontario (FSRA) took over regulatory duties from both the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO). Insurers are hoping FSRA will take a more flexible approach than FSCO […]
By Greg Meckbach | June 11, 2019
The Canadian marine insurance market could get a lot more interesting in the next year-and-a-half as major infrastructure projects get underway. “There are more large infrastructure projects on the drawing board and it could be a very interesting 18 months for the Canadian market,” said Capt. Andrew Kinsey, senior marine risk consultant with specialist insurer […]
By Jason Contant | June 4, 2019
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