Air Canada Flight Attendants Give Strike Notice
The Canadian Union of Public Employees (CUPE) announced late Sunday the rejection of a tentative agreement that had been reached with Air Canada on September 20th. Members of the union voted against the deal with a 65.2 per cent vote in favour of rejection.
This announcement also serves as a notice of intention to strike, which could occur starting at 12:01 am on October 13th. This is the second tentative agreement that the union has rejected amongst Air Canada negotiations. The union’s previous rejection occurred in late August.
“We ask the federal government, in the strongest possible terms, to respect our right to collective bargaining and not intervene unilaterally in this dispute”, says Jeff Taylor, President of the Air Canada Component of CUPE.
Air Canada plans to continue operations regularly, but is unhappy with the strike notice. "We are perplexed and disappointed that two tentative agreements negotiated in good faith with and unanimously recommended by the democratically elected representatives of our flight attendants have failed to be ratified," said Duncan Dee, Executive Vice President and Chief Operating Officer. "Air Canada remains hopeful that a disruption can be avoided."
SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:
- Air Canada and the CUPE Reach Tentative Deal
- Air Canada and CUPE Continue Negotiations as Strike Looms
Air Canada is instituting a flexible rebooking policy to quell customer uncertainty, allowing customers who have booked flights in the next six days to change dates free of charge until December 15th, 2011. The company is also planning ahead in case of work disruption, announcing it will implement a partial schedule. More information will be released about such a schedule before implementation.
The office of Canada’s Labour Minister Lisa Raitt also reacted to the CUPE’s rejection and strike notice announcement. Previously stating that they would intervene if a strike did occur back in September, it seems the office is still prepared to take action should the strike take effect.
"The government will be considering its options, however we will be clear that a work stoppage is unacceptable in this time of fragile economy," said an official statement.
The CUPE represents 9,500 members in air transport including employees at Air Transat, Calm Air, Air Canada, Canadian North, CanJet Airlines, Cathay Pacific, First Air and Porter.
CB Insights: US Insurtechs Compete In A Now Global Market
In the first half of the year, insurtech companies around the world have raised US$7.4bn, nearly doubling their funding in Q2. According to Digital Insurance, insurtechs have raised US$4.8bn in Q2—an 89% increase in funding from Q1. But US firms are no longer the sole beneficiaries.
What Are the Stats?
Out of the 15 Q2 mega-rounds—those that top US$100mn—only eight included American firms. Pretty good, you might say. That’s over half! But US companies only made up 38% of the deals, which marks a 10% drop from Q1 and a 12% drop from 2020. Technically, therefore, US insurtechs are less influential than they’ve been in the past. But who says this is a bad development?
Despite my American citizenship, I’d argue that a more globally diverse insurance market is only for the best. Many of the world’s citizens who could most benefit from improved insurance services live outside of the States—and deserve local, tech-savvy services.
Why Does This Matter?
You’re always going to see the typical insurtech contenders from Western countries. For instance:
- German-based wefox: US$650mn Series C
- UK-based Bought By Many: US$350mn Series D
- US-based Collective Health: US$280mn Series F
But it’s critical that we address risk across the world. American insurtechs might be some of the most technologically skilled firms in the industry, but it’s not their first goal to address floods in Southeast Asia, crop destruction in China, and COVID complications in South Africa. That’s why we should celebrate that the recent Q2 round included insurtechs from 35 different countries.
According to CB Insights’ Q2 2021 Quarterly InsurTech Briefing, this was the first time that they’d observed insurtech activity in Botswana, Mali, Romania, Saudi Arabia, and Turkey. And ‘from a product, service, distribution, and underlying risk perspective, we—as a society and as an industry—are moving at an unprecedented speed’, says Dr. Andrew Johnston, Global Head of Willis Re InsurTech.
Just ask CB Insights. InsurTech value propositions have resonated with the world.