Insurance Blogs hosted by Canadian Underwriter
Insurance Blogs hosted by Canadian Underwriter
Insurance and insurers have been around for millennia, with modern insurance starting in the U.K. more than 300 years ago. For much of this time, incumbent insurers have been protected from competition by four big barriers: regulation, the law of large numbers, the trust nature of insurance, and, last but not least, the inertia of […]
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Nine provinces and one territory in the country have formal disaster assistance programs designed to help homeowners, renters, small business owners, not-for-profits and local governments recover after a loss event. Prince Edward Island, Yukon and Nunavut do not currently have…
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In some years, it’s water. In others, it’s wildfire or hail. This year, it was extreme wind that stood out as a major driver of insured catastrophic loss in Canada. Indeed, just two events – the May 4 Southern Ontario/Quebec…
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The following letter to the Editor was submitted to the St. John’s (Newfoundland) Telegram in response to a column on auto insurance on November 21 by Brian Jones. Amanda Dean, Vice-President, Atlantic, for Insurance Bureau of Canada offered this response…
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It is somewhat understandable why most Canadians seem to know virtually nothing about how building codes work in this country. After all, a person might only really be exposed to code-related issues if they were having a new home built…
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I’m rarely flabbergasted reading the industry trade press these days. After so many years in the business, insurance news doesn’t quite float my boat in the same way as it used to. However, Mark Geoghegan’s post this week in Insurance Insider, “Unspeakable Truths” stirred me right out of a post summer stupor. As most will be aware Mark is a seasoned commentator on the London …
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One of the biggest challenges of educating people about natural hazard risk is having to first cut through the myths and misconceptions that envelope essentially every hazard, from earthquake to flood and – yes – tornado. Stop me if you’ve…
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As announced in my preview post last week, the IBM Institute for Business Value has just released our main insurance study for 2018, titled “The platform fueled-future: New ways to differentiate in a changing insurance industry.” This study is based on a global survey of 1,000 insurance executives, with questions centering on insurance platforms about […]
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Next week, we will be releasing a new IBM Institute for Business Value study on the insurance industry. Titled “The platform-fueled future,” we surveyed 1,000 insurers across 35 countries on various questions of interest around insurance platforms – on their disruptive impacts, benefits, downsides and how much or how little participation they are envisioning. We […]
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A letter from Amanda Dean, Vice-President, Atlantic Canada, Insurance Bureau of Canada: Saint John City Council recently enacted the Fire Protection Fees By-Law, which establishes fees to be paid by property owners or occupants to cover the city’s costs of…
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I recently hosted an industry table at a charity dinner. As always choosing the guests was one of those chores underlining just how few senior women there are in the market. It is utter misery to be surrounded by all or mostly blokes at these events, never mind the lousy message it sends about insurance to the other diners from more progressive parts of the …
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For new general insurance brokers, one of the biggest challenges is to learn and remember their products and coverages from multiple insurers. All of the insurers offer a similar base product with a variety of optional add-on coverages and limits. Although, additional coverages are optional but extremely important to have as a part of the […]
The post Know what you sell; Product Knowledge appeared first on Ehsan Rasul.
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How we define value. Value is emotional not logical. Each individual has his/ her own standards, expectations, needs and wants to determine the value of a product. If a client believes that she has made a profitable exchange and received more in return for what she paid for, the product becomes more valuable to her. On […]
The post Adapt to change & Offer great value (Part 2) June 20, 2018 appeared first on Ehsan Rasul.
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Canadian Brokers understand that Contingent Profit Commissions (CPC) are a device that insurance companies use to reward good front-line underwriting, volume of premium business placed and some good claims luck. In simple terms, the better your loss experience and the…
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