HR
Ontario’s recent minimum wage hike up to $15 per hour ruffled a few feathers within the business community, but the new legislation didn’t raise much of a fuss within the property and casualty (P&C) insurance sector. “On this particular issue, we reached out to member companies when the legislation was first proposed, and we were […]
By Jason Contant | November 26, 2017
2 min read
Tech
Verifying the number of hours a driver uses ridesharing services such as Uber and Lyft could be problematic for underwriters and adjusters, one adjuster told Canadian Underwriter on Wednesday. “In the course of their investigation, an adjuster can ask, ‘How many hours a week have you used your vehicle for ridesharing?’” said Marie Gallagher, branch […]
By Jason Contant | November 24, 2017
While it remains to be seen whether or not the industry’s anticipated move to automate “paper pushing” roles over the next decade will spawn major job losses, the industry may have an easier time attracting youth to the more advanced roles that emerge. “Certainly, there has been much anticipation that technology will start to eliminate […]
Given the “fairly fluid coverage situation” in the cyber insurance market, it’s imperative for brokers to educate themselves about the array of available cyber products to establish the right limits of cover for their clients. “I think brokers struggle with the concept of who needs it, who will even think about buying it, and their […]
By Jason Contant | November 23, 2017
Given Lyft’s promised arrival in Canada by the end of the year, insurance coverage for the ride-sharing service remains a big question mark. “I am concerned because I have not yet heard that Lyft has contracted with anyone to provide similar arrangements” as Uber has done, Eric Grossman, a lawyer with Toronto-based Zarek Taylor Grossman […]
By Jason Contant | November 21, 2017
3 min read
Continuing Education (CE) for brokers will likely make its way onto mobile devices in the short term, with the world of Virtual Reality classrooms to follow over the longer term — perhaps in the next five to 10 years, says an award-winning contributor to Canadian broker education. Greg Mansfield, education department manager at the Insurance […]
Brokers placing coverage with Economical Insurance wanted the insurer to “clearly articulate [its] appetite and become competitive in specific areas,” so the insurer has created new core segments in small business, agriculture and transportation, and specialty lines. Matthew Buchalter, vice president of regional product pricing and underwriting, told Canadian Underwriter that these new segments “will […]
Toronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data integration in commercial lines, which is somewhat behind personal lines in coming up with a […]
By Canadian Underwriter | November 19, 2017
Brokers are excited about the potential of artificial intelligence (A.I.) to help streamline interactions—not just between brokers and consumers, but also between brokerages and insurance companies. Chatbots are often cited as an A.I. tool to help brokerages automate and streamline their online interactions with clients. But chatbots can also act as “advisors” internally at brokerages, […]
By Jason Contant | November 19, 2017
Economical Insurance has hired a new personal lines EVP, while The Guarantee Company of North America’s former chief executive officer is now a senior fellow for the C.D. Howe Institute. Economical welcomes MacDonald to the team Economical Insurance announced Tuesday that Paul MacDonald will join Waterloo, Ontario-based Economical as executive vice president of personal insurance […]
By Canadian Underwriter | November 17, 2017
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