-
2 months ago | 
insurancebusinessmag.com | Nicole Panteloucos
Technology By Jan 27, 2025 Share The insurance industry stands at a pivotal moment. With a rapidly evolving market, the inefficiencies of legacy systems, and the rising costs of outsourcing, back-office modernization has become more than a choice - it’s an absolute necessity. To remain competitive, insurers must adopt innovative solutions that not only reduce costs but also create a solid foundation for long-term success.
-
Jan 22, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Catastrophe & Flood By Jan 22, 2025 Share As the Los Angeles wildfires continue to rage, with strong winds intensifying across the Palisades, Canadian insurers and homeowners are closely examining the lessons emerging south of the border. These fires serve as both a stark warning and a source of valuable insights, offering provinces like British Columbia and Alberta strategies to better prepare for and mitigate the growing threat of wildfires.
-
Jan 16, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Property By Jan 16, 2025 Share Despite progress in containing wildfires across the Palisades, Los Angeles remains on high alert due to continuing strong winds. Adding to the challenges, California officials are now preparing for post-fire risks, such as flooding and landslides. As reported by The Weather Network, wildfires significantly alter the environment.
-
Jan 15, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Motor & Fleet By Jan 15, 2025 Share This month, the Alberta government’s cap on auto insurance rate increases is set to rise to 7.5%, a move that will offer some relief to the province’s strained market. The cap, initially introduced last November to limit rate hikes to 3.7%, was intended to make coverage more accessible and shield consumers from steep premium increases. However, it may have had the opposite effect.
-
Jan 14, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Technology By Jan 14, 2025 Share In the world of Excess and Surplus (E&S) insurance, carriers are well-versed in managing tricky risks, meeting unique client needs, and adapting to ever-changing market conditions. Take the ongoing devastation caused by California wildfires, for example. The E&S market is poised to play an even bigger role as admitted carriers pull back or exit high fire-risk areas altogether.
-
Jan 14, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Technology By Jan 14, 2025 Share In the world of Excess and Surplus (E&S) insurance, brokers are well-versed in managing tricky risks, meeting unique client needs, and adapting to ever-changing market conditions. Take the ongoing devastation caused by California wildfires, for example. The E&S market is poised to play an even bigger role as admitted carriers pull back or exit high fire-risk areas altogether.
-
Jan 13, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Catastrophe & Flood By Jan 13, 2025 Share The US is grappling with wildfires in Southern California, which have already caused an estimated $20 billion in insured losses – and the repercussions are being felt across the entertainment sector. The Critics' Choice Awards, for example, originally slated to take place last weekend in Santa Monica, has been postponed until later this month due to the ongoing wildfires.
-
Jan 13, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Catastrophe & Flood By Jan 13, 2025 Share While the US grapples with wildfires in Southern California, which have already caused an estimated $20 billion in insured losses, Canada is no stranger to devastating weather events and faces similar challenges within its own borders. Last summer, British Columbia and Alberta endured significant wildfire destruction, while storms wreaked havoc.
-
Jan 9, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Catastrophe & Flood By Jan 09, 2025 Share Southern California is battling multiple wildfires, particularly in the Pacific Palisades region of Los Angeles, fueled by dry conditions and powerful Santa Ana winds. “It is safe to say that multiple thousands of structures will ultimately be impacted based on preliminary estimates of what has transpired thus far,” said Josh Darr, global head peril advisory for Guy Carpenter.
-
Jan 8, 2025 | 
insurancebusinessmag.com | Nicole Panteloucos
Construction & Engineering By Jan 08, 2025 Share As the construction industry enters the new year, it faces a complex and challenging landscape. The ongoing labour shortage remains a pressing issue, becoming a significant bottleneck for projects across Canada and causing ripple effects throughout the insurance sector. With the demand for skilled workers outpacing supply, clients are contending with rising costs, extended timelines, and the difficulty of upholding quality standards.
