Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Most people, at some point in their career, decide to explore their career options. It could be dissatisfaction with the current job, a feeling that it’s time for a change, or simply a desire to see what else is out…
Almost four years after launching public consultations, the federal government has published proposed regulations governing the demutualization of property and casualty insurance companies. The regulations will come into force on the day they are published in the Canada Gazette, Part…
Using the family car to drive for Uber carries the potential for serious consequences in terms of inadequate insurance protection. Until the legal issues surrounding Uber’s business model are resolved, it doesn’t appear likely the industry will come up with a solution.
For anyone waiting for the underwriting market to harden, it would appear they’ll be waiting a little while longer. One of the events that can trigger a tightening of the primary market is a tightening of the reinsurance market. Two…
As insurers face the challenges of legislative and regulatory compliance, there is an argument to be made that large insurers will be in a better position to meet these challenges. As a means of meeting the regulatory requirements they face…
There was a time when the only C-suite title was Chief Executive Officer. Eventually new titles emerged such as Chief Operating Officer, Chief Financial Officer, Chief Marketing Officer, and Chief Information Officer. One of the latest C-suite titles to emerge…
In trying to draft a legislative framework in response to Economical Insurance’s request to demutualize, the federal government finds itself caught between strongly opposing views from the industry. Not unlike sailors trying to navigate a safe course between the mythological…
Two weeks ago, Insurance Thought Leadership (ITL) published an article predicting a surge of merger and acquisition activity in the claims and technology sector. As if on cue, there was an announcement a week later that SCM Insurance Services had…
In its Second Quarter 2014 update, Aon Benfield Securities reported that catastrophe bond issuance hit a record high US$ 4.5 billion – the most of any quarter in the history of the insurance-linked securities (ILS) market. The growth of the…
There has been much discussion about the introduction of vehicle telematics to the Canadian insurance marketplace. The idea of usage-based insurance (UBI) is that a driver’s behaviour is monitored in real time while the person drives. This information is then…
When Ontario’s Lieutenant Governor David Onley granted Premier Kathleen Wynne’s request to dissolve the legislature, it wasn’t only the proposed budget that was put to the sword. Work also stopped on a key piece of legislation designed to reduce automobile…
The Insurance Brokers Association of Ontario (IBAO) has come out in favour of Bill 171, the Fighting Fraud and Reducing Automobile Insurance Rates Act. The IBAO’s position, as quoted in their press release, is that unless Bill 171 is passed…
The impact of natural catastrophes is having an ever-increasing impact on the results of insurers around the world. According to a recent report from Aon Benfield’s catastophe model development arm, natural catastrophes caused roughly $7 billion in insured losses globally…
In 2008, thieves stole approximately $2 million dollars worth of jewellery, including two Stanley Cup rings, from the home of Paul and Judy Bronfman. As it turned out, the couple’s insurance policy contained sub-limits of $10,000 for jewellery and $1,500…