Tech
Efforts to manage mobile transformation continues to be a struggle for some interviewed enterprises, with almost a third reporting they are not investing in mobile technology, notes a new study released Thursday by SOTI Inc. Commissioned by SOTI and conducted by Arlington Research, the study is based on interviews conducted using an online methodology amongst […]
By Canadian Underwriter | July 7, 2017
4 min read
Cyber risks should be on the radar of every type of business. Manufacturing has lagged other sectors in buying insurance, revealing vulnerabilities that have not, until recently, been fully appreciated, but could lead to enormous costs. Considering all vulnerabilities is essential to building towers of coverage that provide meaningful protection.
By Jimaan Sane, Cyber Underwriter, Beazley; and Rhea Turchinetz, Cyber Underwriter, Beazley Canada | July 6, 2017
6 min read
Many brokers are taking the bull by the horns and embracing digital transformation, with or without the help of insurers, a speaker suggested last week at the Insurance Analytics Canada Summit in downtown Toronto. Greg McCutcheon, president of Markham, Ont.-based Opta Information Intelligence, noted in his presentation that insurers are not able to embrace every […]
By Jason Contant | July 4, 2017
Taking a multi-layered approach to cyber security – including authentication – is likely the most important single thing to help combat access that then results in data breaches, David Ostertag, global investigation manager for Verizon’s investigative response unit, advised last week during a media briefing in downtown Toronto. Ostertag is often asked about the single […]
By Angela Stelmakowich | July 4, 2017
There are “all sorts of insights” that an insurance brokerage can get from customer data, but that data needs to be trustworthy, the head of an online commercial insurance brokerage told attendees at a recent conference. “If you don’t have data, go capture the data,” said Sam Natur, president and chief executive officer of Mississauga, […]
By Jason Contant | July 3, 2017
HR
The insurance industry has been very incremental in dealing with disruption and needs a drastic shift from historical analysis to predictive, future risk models, a speaker suggested on Wednesday at the Insurance Analytics Canada Summit. “You cannot disrupt with incrementalism,” Pranav Pasricha, chief executive officer at Intellect SEEC said at conference, held at the Toronto […]
By Jason Contant | June 30, 2017
3 min read
Manufacturing is witnessing a significant hike in internal cyber threat actors linked to nation state schemes to disrupt operations and allow chosen businesses to gain competitive advantage and market share, David Ostertag, global investigation manager for Verizon’s investigative response unit, suggested Wednesday during a media briefing in downtown Toronto. Not only is the development concerning, […]
By Angela Stelmakowich | June 30, 2017
Aviva Canada said earlier this week that is urging the Government of Quebec to maintain the 20% ownership limit of insurance brokerages by insurers in order to “reduce the potential for any conflict of interest and to enhance consumer confidence in the insurance industry.” The 20% rule has enabled Quebec to create a robust and […]
By Canadian Underwriter | June 29, 2017
2 min read
Legal / Regulation
Ontario brokers and insurers need to know about upcoming changes to the definition of road-building machines. Certain machines will no longer be included in package, inland marine or other coverage forms, meaning they must now be registered/licensed and insured under an Ontario auto policy. Should an injury occur involving a machine that is not so insured, losses could exceed limits.
By Daniel Strigberger, Partner, Samis+Company; and Ken Parsons, Consultant, Everest Canada | June 29, 2017
Customers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for Study of Insurance Operations (CSIO) webinar Tuesday. Clearly, “customers are in the driver’s seat now,” […]
By Angela Stelmakowich | June 29, 2017
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