Risk
Darin Scanzano will be the new CEO of Everest Insurance Company of Canada effective this summer, Everest Re Group Ltd. announced Wednesday. Scanzano will be based in Toronto and report to David Sandler, head of the Everest Insurance Risk Management Group. Scanzano was previously executive vice president and chief agent for Axis Capital in Toronto. […]
By Greg Meckbach | June 6, 2018
2 min read
Five years after massive flooding caused more than $4 billion in uninsured losses in Alberta, more than a dozen insurers representing about three-fourths of Canada’s property insurance market are now covering overland flood. Sixteen insurers representing 77% of the market now offer overland flood coverage, Craig Stewart, vice president of federal affairs for Insurance Bureau […]
By Greg Meckbach | June 5, 2018
Ontario’s political parties have all expressed a desire at some point this year to eliminate territory as a rating factor for insurance premium, but none of the parties have been clear about how they would actually do it, an insurance expert warns. Prohibiting insurers from using territory as a factor in pricing auto insurance would […]
By David Gambrill | June 4, 2018
3 min read
If a violent attack occurs on your business client’s premises, there is a good chance the insurance company will somehow be involved. If a random person walks into a restaurant or retail store “without warning and undertakes some violent criminal act that no one could have foreseen,” that innocent business owner could end up being […]
By Greg Meckbach | June 1, 2018
Cyber threats are becoming “more difficult to detect,” a major Canadian retailer suggested Tuesday. Indigo Books and Music Inc., whose holdings include the Chapters and Coles book chains, “may be required to expend significant additional resources” to protect against threats such as cyberterrorism, phishing and computer viruses, the firm said Tuesday in its management discussion […]
In the wake of a threatened bombing in Stratford, Ont., and a restaurant bombing near Toronto, landlords of office towers may want to review their security systems to reduce their risk of liability. In general, owners of multi-tenant buildings have some duty to provide security for their tenants, Gary Hirst, CEO of managing general agent […]
By Greg Meckbach | May 30, 2018
With equipment breakdown and other new coverages available from homeowners’ insurance carriers, brokers need to make sure their clients or prospective clients are aware of their options, a Regina-based broker warns. “There are so many new products” available in homeowner lines, Dave Pettigrew, president and CEO of Harvard Western Insurance, said in an interview. He […]
By Greg Meckbach | May 19, 2018
A controversial proposal touted as a way to help railways manage risk has put the Canada’s transport minister at odds with the Senate. If passed into law, Bill C-49 would make voice and video recorders mandatory in locomotives in Canada. This measure will “increase opportunities to mitigate risks and prevent accidents from occurring,” Transport Minister […]
By Greg Meckbach | May 15, 2018
What are some of the hottest trends in Canadian P&C commercial lines right now? Insurtechs in the SME [small and medium sized enterprise] customer segment is a key driver in today’s commercial market, says Jim White, chief sales officer and executive vice president of general commercial insurance at HUB International Ontario. There are also been advances in the […]
By David Gambrill | May 11, 2018
Exposure to Ontario’s regulated auto market is one factor leading to the “unsatisfactory” financial performance at Economical Insurance, CEO Rowan Saunders suggested to mutual policyholders attending the company’s annual general meeting, held Monday at the Bingemans Centre in Kitchener, Ont. “By the nature of our being an Ontario-based mutual company, we have an overweight position […]
By Greg Meckbach | May 9, 2018
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