HR
When Matt Alston hires workers for his property and casualty brokerage, he is not looking for a walking encyclopedia of insurance. At Surex Direct, personality “always trumps technical skills and accreditations,” said Alston, Surex Direct’s co-founder and chief operating officer. “When people come and apply and they have their [Canadian accredited insurance broker] level 1 […]
By Greg Meckbach | September 18, 2018
2 min read
Operations
If a US$6.4-billion deal announced Tuesday is approved, commercial brokerages Marsh and Jardine Lloyd Thompson will be owned by the same company. New York City-based Marsh & McLennan Companies Inc. says its board of directors has agreed to an acquisition of Jardine Lloyd Thompson Group Plc of London, England. JLT’s board is also agreeing but […]
Tech
Being able to quickly identify a “true” customer compared to a synthetic identity created by a cybercriminal can help insurers tailor offerings to the right customers early in the account creation process, a security engineer said Friday. “If you know it’s a form of automation… then what you can do is put some blockages in […]
By Jason Contant | September 17, 2018
GENEVA – More than half of all workplace tasks will be carried out by machines by 2025, organizers of the Davos economic forum said in a report released Monday that highlights the speed with which the labour market will change in coming years. The World Economic Forum estimates that machines will be responsible for 52 […]
There are indications the commercial insurance market in Canada is starting to see rate hardening, the president of Hub International Canada told Canadian Underwriter Friday. “It hasn’t all hit yet, so I want to be clear on that,” Tina Osen said in an interview. “The indicators are certainly pointing that way.” Osen said certain lines […]
By Jason Contant | September 16, 2018
Police in Ontario are warning municipalities about a rash of cyberattacks targeting local governments in which hackers demand a ransom in exchange for access to systems. Ontario Provincial Police did not provide firm numbers on the ransomware incidents but say there have been several such attacks on businesses and municipal offices in recent months. One […]
By The Canadian Press | September 14, 2018
1 min read
MONTREAL – Security-minded consumers will soon have access to a free app designed to protect their data from cybersecurity threats. The digital app, called Protection, is designed to help users detect security breaches and scamming attempts in their emails, texts and other apps, as well as give tips to prevent future hacks. Created by a […]
By Jason Contant | September 12, 2018
For its latest acquisition, Quebec’s largest brokerage decided to look outside its traditional stronghold of property and casualty insurance, which represents about 90% of its revenue base. On Aug. 8, Lussier Dale Parizeau announced the acquisition of Trinome Conseils. Patrice Jean, president and chief operating officer of Lussier Dale Parizeau, told Canadian Underwriter Monday the […]
By Jason Contant | September 11, 2018
Legal / Regulation
Legislation on autonomous vehicles needs to be ironed out well in advance of these vehicles becoming mainstream to prevent insurance payout disputes before an injured party receives compensation, an insurance lawyer said recently. Jonathan Grnak, an insurance lawyer with Danson Recht LLP in Toronto, noted in the current auto insurance regime, an insurer will not […]
3 min read
Canadian provinces seeking guidance on addressing liability issues of autonomous vehicles could look to the United Kingdom as an example, an insurance lawyer told Canadian Underwriter Friday. The UK has a bill in the reading stages that, if passed, would implement changes to the equivalent of Ontario’s Highway Traffic Act to ensure autonomous vehicles are […]
By Jason Contant | September 10, 2018
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