Operations
Brokers in British Columbia are temporarily allowed to conduct insurance transactions such as vehicle insurance renewals by phone and email during the novel coronavirus (COVID-19) pandemic. Measures are also being put in place to verify the identity of the customer to combat fraud. Last month, the government of British Columbia said it would institute a […]
By Jason Contant | April 23, 2020
4 min read
HR
Industry leaders should begin preparing right now for the post-pandemic business environment, while still managing the immediate fallout of COVID-19, two partners of a strategy consulting firm said recently. This includes spending time envisioning the future, developing a strategy to “walk back” the envisioned future to today, being prepared to learn and pivot, and rallying […]
By Jason Contant | April 22, 2020
Tech
COVID-19 has sharply increased the demand for telemedicine in Canada, and with it comes emerging risks and possible unexpected gaps in coverage for clients. Telemedicine – or using video, audio and other technologies to deliver preventive, diagnostic and treatment services – allows practitioners and patients to practice social distancing while at the same time ensuring […]
2 min read
Returning to some sort of normalcy is still some time away, according to one economist. And rushing to do so would likely be worse than waiting. It’s best, experts argue, to wait for public health officials to give the green light to return rather than governments forcing businesses to re-open when dangers are still present. […]
By Adam Malik | April 22, 2020
The Canadian property and casualty insurance industry is okay — for now. But the longer the global COVID-19 pandemic drags on, the greater the risk that the economic fallout and financial instability will impact the industry’s financial position, warns MSA Research CEO Joel Baker. “The industry entered 2020 well-capitalized and in strong enough shape to withstand […]
By Adam Malik | April 20, 2020
As the economic fallout from the COVID-19 pandemic continues during a hard market cycle, the solution to consumers’ woes may not be as simple as providing premium relief, one Quebec broker says. “We’re not seeing premium relief from insurers to date, but I don’t think it’s that simple,” said Curtis Killen, president of brokerage KBD […]
By Jason Contant | April 17, 2020
3 min read
Sports equipment maker Bauer made headlines when it announced it would shift its production to making face shields for front line employees deemed essential during the COVID-19 pandemic. Behind the scenes helping to make it possible was its broker, BFL Canada, and its insurer Zurich Canada. The P&C organizations teamed up to make sure Bauer’s […]
By Adam Malik | April 17, 2020
George Hodgson was blunt in his observation of what would happen if fears of a 25% unemployment rate come true in his province. “It’ll be horrendous,” the CEO of the Insurance Brokers Association of Alberta told Canadian Underwriter of the potential that at least quarter of the province’s workforce — half a million people — […]
By Adam Malik | April 15, 2020
Companies developing a business impact analysis (BIA) plan need to understand the amount of time the organization can function without producing a particular product or service, a senior executive with Hub International said recently. “We need to ask and answer some key questions about how long we could go without a particular function or process,” […]
By Jason Contant | April 14, 2020
Your employees may be struggling in a work-from-home environment, so it’s essential to check in with them to make sure they’re adjusting well, say brokerage leaders. Ensuring regular communication can go a long way to keeping their mental health strong. Travis Murray is the chief operating officer of Leibel Insurance Group in Edmonton. He told […]
By Adam Malik | April 13, 2020
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