RELECTRONIC-REMECH Inc.

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. #pandcindustry #insurance #mentalhealth #propertyandcasualty #canadianunderwriter #mentalhealthissues #mentalhealthstudy #insuranceindustry

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. #thanksgiving2024

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. #cybersecurity #riskmanagement #smbs #cybersecurity #cyberinsurance #riskassessment #insurance #insurancenews

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. #Florida #HurricaneMilton #hurricanepath

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. #claimadjusters #insurancenews #insurance #insuranceclaims #claims #claimsadjusting #pandc #propertyandcasualtyinsurance #extremeweather

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. #riskawarenessweek #globalcelebration #insurance #riskmanagement #riskaware #propertyandcasulatyinsurance #insurancenews

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. #insurtech #insurance #insurancetech #insurancenews

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.  #homeinsurance #insuranceclaims #propertyandcasualty #pandc #insurance #insuranceindustry

Autonomous AI assistants are coming. Here are four ways insurance organizations can begin using this tech right now. #insurtech #ai #insurance #underwriting