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Emerging risks: The dangers of the economic recovery

By Hubert Roy | July 20, 2021, 9:34 a.m.

Photo: Freepik

Swiss Re has identified a series of pitfalls for insurers as the post-COVID-19 recovery gets underway.

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Finances are one of the biggest stressors for newly married couples

Digital framework: Bill 64 is passed

Montreal firm acquired by Hub International

Headlines

Two new high net value insurance products emerge back-to-back

Mutual fund and exchange traded fund sales pull back in September

Agent sanctioned in British Columbia for not disclosing Ontario disciplinary history

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Flash

Two new high net value insurance products emerge back-to-back

Mutual fund and exchange traded fund sales pull back in September

Agent sanctioned in British Columbia for not disclosing Ontario disciplinary history

Assumption Life expands its simplified issue insurance line

Directors and Officers

Hospitality: New premium increase in sight

COVID-19 claims: Uncertainty lingers in commercial insurance

Insurers must continually evaluate risk given COVID-19 and its impact

P&C insurers must institute changes if they want to survive past the current pandemic

P&C Insurance

Regulator publishes health service provider supervision plan

As autonomous vehicles gain momentum, insurers face new challenges

Saskatchewan agency fined for errors and omissions lapse

Montreal firm acquired by Hub International

Civil liability

Inflation could push up claims for property and casualty insurers

SUM and Morin Elliott acquired by an American broker

Social inflation: A challenge for liability insurance

SWISS RE

Natural remedy: Biodiversity generates billions in healthcare savings

Insurers can expect a more vigorous post-pandemic recovery than after previous crisis

Strong demand for insurance will mitigate impact of inflation

Natural disasters: Insured losses rise as economic losses fall

Special risks

Uninsurable risks: Canadian insurers more exposed than their peers

Major brokerage firm appoints Canada cannabis specialty leader

Moody's to acquire RMS

Association seeks to equip Canadian wholesalers to handle growth

Technology

Cyber threat concerns at an all-time high among Canadian executives

Insurers will need to leverage digital and analytics to underwrite risks

Manulife poised for new growth

Intact’s spells out ambitions

Cyberrisks

Financial fraudsters are taking advantage of the pandemic

Companies must start taking cybercrime more seriously

Half of small businesses don’t put money aside for cyber security

Peter Routledge aims to address climate and digitalization challenges

Climate changes

Regulators propose climate disclosure requirements for comment

Incorporating climate in decision making: A risk not to be underestimated

Property and casualty underwriting: What risks lie ahead?

Institutional investors placing greater emphasis on sustainability due to pandemic

Analytic

U.S. life application activity flat in September

Table: Life and health insurers’ market shares in Canada in 2020

Table: P&C insurers’ market shares in Canada in 2020

Life insurance apps drop 13.2 per cent in September

Economy

Plan health improves, but risks loom

Inflation is near its peak, says economist

Small and medium-sized businesses hopeful of near-term prospects

AM Best returns Canadian life and annuity business rating from negative to stable

Indemnisation

Severe weather hits Intact’s bottom line

Claims paid out due to COVID-19 deaths surpassed $150 million last year

Ontario: Mother Nature caused millions in damage on September 7

Hurricane Ida’s track could cost insurers up to $25 billion

Claims

AM Best publishes global reinsurance outlook

Empire Life: Net income reduced by one third

Forest fires in British Columbia: Intact unveils its field efforts

Winter disasters reigned supreme in the first half of 2021

Fraud

Former agent fined $110,000 for theft and fraud

Regulator issues fraud alert

Broker loses license following fraud charges

Regulator warns investors about fake financial websites

COVID19

Insolvency experts say COVID-19 is eroding affordability and living standards

Pandemic is changing Canadians’ planned retirement timelines

Mental health issues can no longer be ignored

Record earnings for reinsurers in first half of 2021

Emerging risks: The dangers of the economic recovery

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