HR
Guarantee Company of North America appoints two members to board of directors The Guarantee Company of North America has appointed Bev Wittmack and Dawn Tattle to its board of directors. Wittmack is a director of JEH Enterprises Inc., a privately-owned business consortium with major holdings in commercial and residential real estate in Canada and the […]
By Canadian Underwriter | December 7, 2017
2 min read
More than six in 10 (63% of) risk management professionals in the United States and Canada reported performing functions in addition to risk management in their organizations, according to RIMS’ 2017 Risk Management Compensation Survey. One reason why is because of how much of a risk manager’s time is spent on insurance procurement, says Darius […]
By Jason Contant | December 6, 2017
3 min read
Tech
Technology advancements may seem like a competitive advantage in the broker channel, “but they have the potential to be a neutralizer” as well, the Insurance Brokers Association of Ontario cautioned Tuesday. Some brokers have already dabbled with technology by offering chatbots, paperless solutions and mobile websites, among other items. And real-time data exchange between brokers […]
By Greg Meckbach | December 5, 2017
CALGARY – The Bank of Canada is considering the merits and risks of digital currencies as interest in cryptocurrencies like Bitcoin reaches a fevered pitch. In a research paper released by the central bank Thursday, report authors Walter Engert and Ben Fung said there are merits to creating a central bank digital currency as society […]
By Jason Contant | December 5, 2017
Canadian auto insurers have been using telematics to gather data on driving behaviour for years, with one insurer having billions of miles’ worth of data, but it remains debatable whether pay-as-you-drive technology actually reduces insured losses. Claims costs “could conceivably be reduced” but it will still take time to determine whether or not telematics has […]
By Jason Contant | December 3, 2017
Legal / Regulation
Saskatchewan has introduced legislation allowing for ridesharing services to operate in the province, with an interesting insurance twist. The Vehicles for Hire Act requires the ridesharing company to file written evidence of a motor vehicle liability insurance policy with a minimum limit of $1 million, Saskatchewan Government Insurance (SGI) reported. The company must also insure […]
By Canadian Underwriter | December 1, 2017
Brokers need to be mindful of how they protect their clients’ information in the digital age, particularly when they transfer information to and from their office to work remotely from home. “We recognize that the digital era is upon us, but along with that, none of the rules have changed with respect to protecting clients’ […]
By Jason Contant | December 1, 2017
As fintechs and insurtechs take hold, more than just the tech is changing. Incumbents are joining fintech firms in realizing a digital approach — anchored by strong and agile core systems — is necessary to put customers first. And cultivating that approach from the time customers are young offers promise of customers for life.
By Ron Stokes, FinTech Leader; and Morgan Richardson, Manager, Financial Services Transactions, EY Canada | December 1, 2017
IndemniPro shakes up Quebec leadership IndemniPro, an independent claims adjuster, has announced two organizational changes in Quebec. After a 16-year career with IndemniPro, Suzie Godmer, senior vice president of the company’s Quebec and Atlantic Canada regions, has decided to leave her current position “to join one of Canada’s largest insurers,” effective January 2018. Christopher Tirrell, […]
By Canadian Underwriter | November 30, 2017
Registered Insurance Brokers of Ontario officials are “giving some thought” to how they will make disciplinary committee hearings public, RIBO’s chief executive officer said Thursday. “Just because the hearings are required to be held in camera doesn’t mean that we have not been pretty effective at regulating the profession,” RIBO CEO Patrick Ballantyne said Thursday […]
By Jason Contant | November 30, 2017
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