Relectronic-Remech Inc.

10/16/2024

Record-high claim counts, at a time when the industry is grappling with a well-documented labour shortage, have P&C industry professionals concerned about their mental health, according to a recent study conducted by a Canadian Underwriter. Competition or, more specifically, concerns about ‘appearing weak’ to peers or managers — is a major worry and also a major reason why industry employees are not talking about – or taking time off – to address their mental health issues.

Competition in the Canadian P&C industry is a major reason why industry professionals are keeping mental health concerns to themselves.

10/14/2024

Warmest Thanksgiving greetings to you and your family from all of us at Relectroinc-Remech. We appreciate your constant trust in our company and wish you abundance and joy this holiday season.

10/09/2024

A recent study shows that small- and medium-sized businesses (SMBs) represent about 45% of the cyber market exposure. A notable increase of 45% over the last five years. In contrast to the overall SMB segment, the report found that those with cyber insurance coverage had strong security postures. This meant that incorporating the security posture gap into cyber modelling analysis is vital to accurately quantify the appropriate aggregation risk for the portfolio.

It is a notable increase seen in the last five years

10/09/2024

Thoughts and prayers are with Flordia residents as they flee Hurricane Milton. Milton targets communities still reeling two weeks after Hurricane Helene flooded streets and homes in western Florida along its devasting march that left at least 230 dead across the South. Forecasters predicted the storm will retain hurricane strength as it crosses central Florida on Thursday on a path east toward the Atlantic Ocean.

TAMPA, Fla. (AP) — Hurricane Milton churned Wednesday toward a potentially catastrophic collision along the west coast of Florida, where some residents insisted they would stay after millions were ordered to evacuate and officials warned that stragglers would face grim odds of surviving.The Tampa ...

10/09/2024

Canadian regulators have been called to help address the urgent need for claims adjusters after a record-breaking summer of natural catastrophes.
A coalition of property and casualty (P&C) industry insurance associations penned an open letter to the country’s two main regulatory agencies – the Canadian Insurance Services Regulatory Organizations (CISRO) and the Canadian Council of Insurance Regulators (CCIR) – expressing concern over the “sheer volume” of homes and businesses impacted by four consecutive catastrophic events within a short period.

"Decisive action is needed"

10/09/2024

It's RISK AWARENESS WEEK, a global celebration recognizing the power of informed and intelligent risk management. A reminder that being risk-aware is not about being afraid of the future. It’s about being prepared, making informed decisions, and embracing the opportunities that come with calculated risk-taking.

Each year, Risk Awareness Week aims to promote better ideas in decision-making and raise awareness about proper risk analysis for better risk management.

10/09/2024

Repost from OIAA ***Tickets and Sponsorships*** ON SALE ON TUESDAY, OCTOBER 1 at 10:00 AM for the 2024 OIAA HOLIDAY PARTY & PAST PRESIDENT'S NIGHT! The theme is "Black & Gold Speakeasy".

10/09/2024

Evaluations of some insurtech startups have fallen over the past year. This has led some of companies to self-doubt their insurtech efforts and the priority (and budget) assigned to the innovation initiatives. However, companies that lessen their efforts may risk falling behind competitors that continue to invest in digital transformation.

We have seen the evaluations of the listed insurtech startups falling more and more over the past year. The HSCM Public InsurTech Index (HPIX)™ presented to the market…

09/13/2024

Ontario’s financial services regulator has found a “significant variation” in the amount of time it takes different insurers to settle home insurance claims, partially attributable to supply chain disruptions, catastrophic events and a shortage of skilled labour.

FSRA has found a “significant variation” in the amount of time it takes different insurers to settle home insurance claims.

09/13/2024

Autonomous AI assistants are coming. Here are four ways insurance organizations can begin using this tech right now. https://www.propertycasualty360.com/2024/07/30/how-autonomous-ai-can-expedite-commercial-insurance-underwriting/?slreturn=20240913162239

09/02/2024

Enjoy the weekend! Happy labour day weekend! hashtag

08/15/2024

An increasing number of AI-driven technologies are designed for underwriters, claims professionals, and property restoration contractors and technicians.

This post is part of a series sponsored by CoreLogic. Over the last couple of years, Artificial Intelligence (AI) has changed how everyone lives, works,