Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
For the vast majority of the existence of Canada’s property and casualty insurance industry, overland flood was deemed to be uninsurable for Canadian homeowners. While commercial entities have been able to purchase flood insurance for decades, it was only eight…
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Insurance needs Real-Time now to benefit from lower costs and immediate confirmation between all stake-holders in the insurance distribution vertical. However, Real-Time transactions are too rare in insurance. The most obvious example is D2C insurers who have stepped up their…
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Passenger vehicles are producing unprecedented amounts of data as more and more ‘connected cars’ hit the road. Whoever controls that data could be destined to control the future of auto insurance as well. Canadian insurers have been looking to profit…
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A perfect storm is an event in which a rare combination of circumstances drastically aggravates an event. We are in a 4th industrial revolution. A technology driven revolution which led to the term “Insurance 4.0”. Insurance 4.0 is defined as…
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Another direct-to-consumer insurance platform has launched in North America claiming that “unmet demand for simple and fast digital insurance services in today’s connected world. Savvy insurance customers want the option to research, compare, and buy easily online”. A growing segment…
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The Ontario Court of Appeal has overturned a lower decision that found an insurer owed a duty to defend an insured in a sexual assault claim, under a commercial general liability policy. The Claim In Southside Muay Thai Academy Corp.…
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The immediate and direct effect of Covid-19 on the insurance industry is obvious and broad reaching. For many reasons, insurers must consider their ability to operate during the pandemic as an indication of their preparedness for the future. From claims…
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To the lay person, it only stands to reason that a business interruption policy would respond to what for many enterprises isn’t merely an interruption in their business, it is quite possibly a death knell. This is certainly the sentiment…
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Someone once asked Ernest Hemingway how he went bankrupt and he responded, “Two ways. Gradually, then suddenly.” This short piece is intended to provide you with strategies to protect your brokerage and position yourself for the recovery that will follow…
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The Ontario government announced last Friday that it was suspending limitation periods while the province was under a state of emergency because of COVID-19. This will have a major impact on loss transfer and priority disputes. Loss Transfer Limitation Periods…
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We have written this piece to share our observations on issues that have an impact on mergers and acquisitions (M&A) activity in the Canadian Property and Casualty (P&C) Insurance Industry. These observations are based on divestiture processes we have been…
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Let me start by saying that some of the best managed and most profitable brokerages in Canada are employee-owned. We believe that every succession planning process should, at the very least, consider this option. When talking about management buy-ins, a…
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Political pressure to keep automobile premiums low is a problem that has bedevilled Ontario insurers for some time now. The problem certainly isn’t new and it isn’t going away. It also crosses party lines. Four years ago, the Liberal government…
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In a recent online article, Canadian Underwriter magazine asked the question, Is the sun setting on auto insurance in Canada? In my view, it may be late afternoon for the automobile insurance market, but I think it will be a…
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