Operations
COVID-19 has highlighted the concerns associated with clustering suppliers in one region, such as China. Supply chain risk is one area of insurance that will see changes in the post-pandemic world, according to Tracy McLean, senior vice president of global logistics insurance at brokerage NFP. For example, the pandemic really brought to light for supply […]
By Jason Contant | May 1, 2020
3 min read
Tech
Commercial clients are vulnerable to hidden risks when they have large numbers of people suddenly working remotely or from home in a disaster, as we are seeing in the pandemic, experts told brokers listening in to Canadian Underwriter’s latest webinar. “I think we have seen unexpected, hidden cyber risks emerge since this new way of […]
By Greg Meckbach | May 1, 2020
Brokerages need to make sure they’re investing in technology that benefits the brokerage as a whole rather than promoting a silo-type of environment, Steve Whitelaw, vice president of industry and partner relations at Applied Systems, cautioned in a webinar recently. Otherwise, cracks in business continuity may be exposed in a pandemic situation like now, when […]
By Adam Malik | April 30, 2020
Aon Canada employees will see their salaries reduced as part of an effort to ensure that no one at the company is laid off as a result of the economic upheaval created by the COVID-19 pandemic. The brokerage provided Canadian Underwriter with a copy of global CEO Greg Case’s Apr. 27 letter to employees outlining […]
To help serve its auto customers better, a Regina-based brokerage that shut its doors to the public due to COVID-19 plans to start letting clients into its offices. “Our brokerages have been doing what we can without physically seeing the clients, but that is going to change, probably next week, so we will be re-opening […]
By Greg Meckbach | April 29, 2020
Brokerages looking to manage their own cyber risk and advise commercial clients about their cyber risks should look to one major golden rule when employees work from home during the COVID-19 pandemic. “Your family members should not be using your company-issued device,” said Eduard Goodman, Global Privacy Officer of CyberScout. Absolutely, agrees Philomena Comerford, president […]
2 min read
Insurance brokers are facing short-term increased workloads for little — and even negative — reward during the COVID-19 pandemic. But these efforts are laying the groundwork for future prosperity, whether that be in terms of money, trust and recruitment, P&C industry professionals observe. For Joseph Carnevale, president of the Insurance Brokers Association of Ontario (IBAO), […]
By Adam Malik | April 28, 2020
Rural clients should be able to access the Internet at high enough speeds for brokers to offer them digital services, says one Alberta broker. “I would say there is no issue,” said Rob Barros, chief technology officer and chief communications officer for Alberta brokerage Leibel Insurance Group. “A client, provided they’ve got access to the Internet […]
By Greg Meckbach | April 24, 2020
Backing brokers into a corner and forcing them to use just one kind of technology is bad strategy, Joseph Carnevale, president of the Insurance Brokers Association of Ontario (IBAO), warned Wednesday during Canadian Underwriter’s webinar Business Continuity In The Digital Age. Clients live in different parts of the country with different needs and desires, Carnevale […]
By Adam Malik | April 23, 2020
4 min read
The COVID-19 pandemic is putting renewed emphasis on digitizing of insurance processes including payments, claims, applications and signatures, a Canadian fintech venture capital executive suggests. “This is a good opportunity for fintech, because the acceleration of innovation in financial institutions is going to be even more prevalent,” said David Nault, co-founder and general partner of […]
By Greg Meckbach | April 23, 2020
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