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The Insurance Institute is now on social media. We will be using this space to profile videos, photos and from time-to-time guest blogs that showcase the Institute's commitment to education and professional development in the insurance industry.

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Latest Updates

  • The Heart of the Fire

    ""Forest fires are a common occurrence in Canada. But on May 1, 2016, when a fire southwest of Fort McMurray, Alberta took hold, few could have imagined that two days later it would trigger the largest evacuation in Alberta and an unprecedented catastrophe (CAT) in Canadian insurance history – to the tune of $3.6 billion. The emergency response plans for the province as well as at insurance companies across the country and at Insurance Bureau of Canada (IBC) were invoked, but from the beginning, it was clear this CAT was different.

    IBC and insurers were there from the beginning to help influence and proactively guide decisions that would result in better outcomes for the industry, consumers and policyholders. Years from now, we may look back on it as a positive step towards a more coordinated and collaborative emergency strategy that put the insurance industry in the heart of the emergency operations and smoothed the way to recovery. This early industry participation is a first in disaster management in Canada and is likely to become a best practice for future responses.

    This fall, the CIP Society is offering a two-part webinar series examining the landscape of wildfires in Canada, and specific examples of how the industry prepared, responded, and changed the way the industry responds to emergencies when the next disaster strikes.

    Part 1: A Social media case study

    Discusses the critical role of social media during a catastrophic event, like the Fort McMurray wildfires. No longer just a tool for one-way communication, this webinar will show the various social media platforms can be an effective tool for customer service and empathy with examples before, during, and after the Fort McMurray evacuations. 

    Register today for this October 13th webinar!

    Part 2: Emergency & industry response case study

    Reviews the changing risk of wildfire, including causes, prevention, and risk management. It also discusses the industry’s strategy for a proactive and timely response during emergencies and disasters of this caliber, and how the industry can build from these experiences for future disaster management planning.

    Register today for this November 17th webinar!

    These webinars are presented by representatives from the Insurance Bureau of Canada (IBC) and the Institute for Catastrophic Loss Reduction (ICLR), who were actively involved with the Fort McMurray wildfires either onsite or through social media.

    Space is limited – register for these webinars today!

    Related: ADVANTAGE Monthly Trends Paper – Wildfires in Canada

     

    Posted by CIP Society on 9/26/2016

  • Tackling the Risks in the World of Sports

    Rio 2016 Olympic logo

    Insurance in the world of sports has been attracting a lot of attention, especially as the 2016 Olympic Games commence in Rio. As the country battles a recession, contaminated water, the Zika virus and concerns over terrorism, there’s much to be concerned about as the International Olympic Committee battle through the press. Thankfully, most exposure to risk is held by a handful of large reinsurers, and insurance would cover a number of losses.

    While we typically associate sports insurance as a niche product intended only for professional athletes, much discussion around concussions and other risks that affect recreational athletes have scored some recent attention as well.

    There are a number of health related risks in the world of sports, from the Olympic level to close to home. In Canada, concerns over concussions at the professional and recreational level have led to a national concussion strategy aimed for 2017. Meanwhile, the NFL, CFL and NHL are facing separate legal battles between the league and the players regarding head injuries.

    A new risk for athletes comes in the shape of ground up car and truck tires that is used on soccer fields called crumb rubber. Recent studies are showing that this material may be toxic and most of the particles are either carcinogens or irritants, which can cause respiratory issues including asthma.

    There’s much to be learned in the world of sports insurance and the types of coverage available for athletes of all levels.

    Read this Trends Paper to get the full outlook of sports insurance.

    Sports Insurance Trends Paper

    Posted by CIP Society on 8/5/2016

  • Top 5 reasons to get your FCIP

    ""

    Are you a CIP grad looking to take your p&c knowledge to the next level?

    Consider this: About 80 FCIP grads over the past three years were once in your shoes. They were CIP grads wondering whether to take the Insurance Institute’s Fellow Chartered Insurance Professional (FCIP) designation, the pinnacle of education in Canada’s p&c industry.

    What made them go ahead and take the plunge?

    FCIP grads have told us at least 100 individual reasons why they did it. That’s a pretty long list, so we’ve decided to condense it down into their Top 5 reasons to get your FCIP >

    Posted by Insurance Institute of Canada on 7/6/2016