Operations
Insurance carriers selling through brokers should share, with competitors, some of the software they make to exchange data with brokers’ computer systems, speakers suggested Wednesday at the Data Exchange (D/X) launch. “We need to communicate more quickly and efficiently with our brokers,” said Marc Lipman, chief operating officer of American International Group Inc.’s Canadian branch. […]
By Greg Meckbach | August 1, 2018
2 min read
Wawanesa Mutual Insurance Company announced Wednesday that that it will sell its insurance products exclusively through independent Quebec insurance brokers, discontinuing direct sales to customers in the province. With this move, Wawanesa will be selling solely through brokers in all of its markets across Canada. The closing date of the transaction is targeted for Oct. […]
By Jason Contant | August 1, 2018
Brokers can aid their clients by raising awareness of the common tactics of cybercriminals, as well as by advising their clients to be careful about with whom they share their personally identifiable information (PII). Zac Cohen, general manager of Vancouver-based identity verification provider Trulioo, spoke to Canadian Underwriter Friday about what can be learned from […]
By Jason Contant | July 31, 2018
Tech
The trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday. “There’s a massive efficiency play there if you can get alignment across the different parties […]
3 min read
Risk managers in the restaurant and bar business need to “mine” for information from potential insureds to make sure they exercise their duty of care in serving alcohol responsibly. “From a risk management standpoint, what’s key is the insured is well-run,” said Lorne Folick, a partner with Dolden Wallace Folick LLP, who specializes in liquor […]
By Jason Contant | July 30, 2018
One of the “disruptive promises” of blockchain is the ability to use it for insurance, and Canada’s largest insurer confirmed recently that it is exploring its potential. Thus far, however, blockchain “is still [a research and development] project” at Intact Insurance, Jean-François Larochelle, director of Intact’s data lab, said during a recent webinar. Software maker SAP AG […]
By Greg Meckbach | July 29, 2018
Intact Insurance has launched its new Commercial Property and Liability insurance Quick Quote, a tool designed to give small business owners an insurance quote on their business in about three minutes. The online commercial property and liability quoting tool follows the launch of the company’s Commercial Auto Quick Quote in May. “The beauty of the […]
By David Gambrill | July 26, 2018
HR
For brokerages considering succession planning, allowing the next generation to “find their own path in the world and then successfully boomerang back into roles in the family business is critical to the future” of the business, according to a new blog published Tuesday in Harvard Business Review. The blog’s authors use the example of “Henry,” who […]
By Jason Contant | July 26, 2018
Courting a new business partner and relying on your counterparty’s insurance coverage to respond to a loss? For a risk manager, it’s a good idea to engage in a form of insurance “prenup” conversation with the potential business partner, says Pamela D. Hans of Anderson Kill, a full-service business law firm based in New York. […]
CALGARY – A crime-scene-type tool is being used by an Alberta university to help investigators looking into the cause of wildfires, arsons and oil spills. Gwen O’Sullivan of Mount Royal University in Calgary said the $550,000 mass spectrometer separates complex mixtures and can detect chemical compounds at very low levels. She says that makes it […]
By Jason Contant | July 25, 2018
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