Catastrophe Adjusting with a Purpose

Being an independent catastrophe adjuster is not easy. You get phone calls in the middle of a family celebration and are asked to drop what you’re doing, pack your equipment and head 4,500 km to work field claims in a…

Disaster loss trends and the burden of proof

When illustrating the general trend in disaster losses just a handful of graphs tend to get used the most. When showing the international trend, the most frequently used exhibits are those published by Swiss Re and Munich Re. For the…

Why broker training & mentoring is crucial for success

Becoming a general Insurance broker is relatively easier and quicker than any other professional career in Canada. We just have to meet the minimum educational requirement, study couple of books and pass the entry level exam in order to become a licensed general insurance broker in a particular province or territory. But our real test […]

The post Why broker training & mentoring is crucial for success? appeared first on Ehsan Rasul.

Why Cybersecurity Risk Is a Top Priority: Facts and Figures

Chief risk officers and heads of operational risk responded to a survey held by Risk.net and identified their top risk concerns. Their number one concern was IT disruption, while their second highest concern was data compromise. Why is cybersecurity risk…

The challenges of being a small regional insurer

In a recent article, Traci Boland, chair of the Insurance Brokers Association of Ontario, commented that ‘the sophistication of technology for rating overland flood could conceivably lead to smaller insurers ending up with a disproportionate share of flood risks’. As…

AI – The 4th revolution, are we ready?

In human history, we have seen three major revolutions. Agricultural, Industrial and communication revolution which includes computers and internet. Now we are standing at the cusp of 4th revolution which is Artificial Intelligence, beyond analogs and computers. What we are facing now is a whole new ball game that we have never seen before.   […]

The post AI- The 4th revolution, are we ready? appeared first on Ehsan Rasul.

Insurance system in Alberta, fix it please

History tells us when ever we mix politics with business, results are nothing but economic devastation and complete collapse of free enterprise. This experiment was done many times in the world’s history when governments jump into running factories, food chains, phone companies, banking and even insurance, but failed again and again. It happened in Soviet […]

The post Insurance system in Alberta, fix it please appeared first on Ehsan Rasul.

Arbitrator: Intact has uber, uber, Uber Priority

Does Uber’s fleet policy with Intact provide primary accident benefits coverage to passengers who do not have their own auto insurance policies? The first arbitration decision on this issue says “yes”. Background In July 2016, FSCO approved a new standard…

At the crossroads (The art of being a General Insurance Broker)

We, as Insurance brokers wear many hats. Sales person, underwriter, entrepreneur, and above all, an insurance professional. We often find ourselves at the crossroads when our business interests collide with our professional obligations. We have to make difficult but crucial…

Wells Fargo Ad Campaign Misses the Mark: Overcoming Failure with Better Risk Management

This week, Wells Fargo launched a new ad campaign called Re-Established. The goal is to gain back customer trust after their repeat failures in risk management. It won’t work. I’ve talked a lot about the see-through economy, and one of…

Loyalty, we demand

We demand and expect loyalty in every segment of our lives. Whether it’s business or personal relationships, loyalty is a virtue that is always appreciated and demanded. In insurance business, where products are intangible and quite similar in many ways, competition is tough and only few clicks away, it’s difficult to attract and retain clients. […]

The post Loyalty, we demand appeared first on Ehsan Rasul.

The See-Through Economy: New Technology and Risk Management

Year over year, scandals like Wells Fargo, Equifax, Chipotle and so many others have dominated news headlines as they wreak havoc on consumers, investors, and awaken industry and government regulators. What is driving this trend? Consumers have entrusted corporations with…

The Wheels on the Bus, and other Regular Use Rhymes

Is a school bus company making a bus available for an employee driver’s regular use “at the time of the accident”, if she is not allowed to use the bus at the time of an accident? In TD Insurance v. Dominion,…

Wells Fargo’s Failures in Risk Management Cost $1 Billion Settlement

Wells Fargo has suffered the consequences of repeat scandals since 2016. This week, the bank agreed to a $1 billion settlement with federal regulators who have cited their lack of effective risk management practices as the root cause of their…