Risk
Contingent business interruption (CBI) insurance is on the rise in Canada, with an increase in both demand and higher limits, says the CEO and chief agent for Allianz Global Corporate & Specialty (AGCS) Canada. “This is one of the most difficult risks to underwrite as you are basically trying to understand the complexity of the […]
By Jason Contant | January 16, 2019
2 min read
After nearly three months of recreational marijuana being legal in Canada, insurers are still trying to wrap their heads around a sector with no track record and lots of uncertainty. For specialist insurer CFC Underwriting, there is still some caution around certain lines. “Cannabis went live, as it were, on Oct. 17 and for now, […]
By Jason Contant | January 9, 2019
The Ontario government is inviting drivers and consumers to share their views on how to lower the province’s auto insurance rates, part of a broader initiative on auto insurance reform. “The previous government’s failed system of stretch goals on auto insurance is clearly broken,” Ontario Minister of Finance Vic Fedeli said in a release addressed […]
By David Gambrill | January 9, 2019
4 min read
Did you know, medical cannabis has been legal in Canada since 1999? Since then there have been numerous amendments to the laws, as well as a significant increase in Canadians who have purchased medical cannabis. According to Health Canada – approximately 167,000 Canadians were recipients of medical cannabis during the last quarter of 2016/2017. […]
By Ad Ops | January 9, 2019
3 min read
Are you an insurance company looking to build up your direct-to-consumer capabilities without alienating the broker channel, on whom you rely for your core business? Here are three tips for you, as outlined by bloggers Ned Calder, Shahriar Parvarandeh and Michael Brady, all three from the growth strategy consulting firm Innosight. Their blog is published […]
By David Gambrill | December 14, 2018
EDMONTON – Two security guards were injured in an explosion during an overnight armed holdup at a Scotiabank branch in northeast Edmonton. Police at the scene said the guards – a man and a woman employed by GardaWorld – suffered significant head and facial injuries in the blast that occurred around 2 a.m. Thursday. They […]
By The Canadian Press | December 13, 2018
Federal regulations requiring liability insurance for boats that carry passengers take effect Jan. 11, Transport Minister Marc Garneau announced Wednesday. It is estimated the industry will make $24.8 million more, over 10 years, than it otherwise would have, the federal government said in a regulatory impact analysis. With the new rules, operators of vessels carrying […]
By Greg Meckbach | December 12, 2018
As business risks become more global, interconnected and less tangible, brokers and insurers should expand their dialogue with clients about loss mitigation or loss prevention, the chief executive of CNA Canada says. “An insurance policy today isn’t really enough,” CNA Canada president and CEO Nick Creatura told Canadian Underwriter Thursday in an interview. “We need […]
By David Gambrill | December 6, 2018
TORONTO – Canadians have started receiving emails from Marriott International, informing them of a recent breach of customers’ personal data held by their Starwood hotel properties. The U.S.-based hotel giant, which is also behind brands including W Hotels, St. Regis, Sheraton and Westin, says in the email that the breach may have impacted up to […]
By Jason Contant | December 6, 2018
1 min read
Recent backlashes against Statistics Canada and Facebook have prompted Ontario lawmakers to make it harder to share consumer banking information. “Financial data is especially vulnerable to hacking,” Stephen Crawford, Ontario MPP for Oakville, said Thursday at Queen’s Park in Toronto. “In the past 10 years, the number of attacks has increased greatly, including a data […]
By Greg Meckbach | November 30, 2018
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