Canadian Underwriter

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Insurance


The McDougall Creek wildfire in West Kelowna, BC.
News CatastrophesClaimsClimate ChangeInsuranceRestoration

Night once brought firefighting reprieve, but no longer, Canadian study shows

March 13, 2024 Brenna Owen - The Canadian Press

BRITISH COLUMBIA — The darkness of night has traditionally signalled reprieve for wildland firefighters, but a new Canadian study shows that’s changing, and drought is the driving force. The availability of bone-dry fuels is the key mechanism promoting extreme fire

insPRESS Insurance

Expand Your Horizons with FIRST Canada at the 2024 P&C Insurance Day

March 13, 2024 FIRST Insurance Funding of Canada (FIRST Canada)

Voir français ci-dessous TORONTO, ON, MARCH 13, 2024/insPRESS/ – Expand your horizons with innovative payment solutions from FIRST Insurance Funding of Canada (FIRST Canada). Enhance your offering with flexible payment options, elevate your client experience, and enhance your value proposition.

Hourglass, stopwatch and clock floating in blue water
News ClaimsCommercial LinesInsuranceLegalRisk

Paid the claim? No need to re-appraise after limitation period, court says

March 12, 2024 by Alyssa DiSabatino

An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled.  “An admission of liability to pay on the part of an insurer

The Fraser Valley in B.C. after flooding on Nov. 21, 2021
News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Federal disaster aid for Fraser Valley floods, landslides taking too long: B.C. MP

March 12, 2024 Mia Rabson - The Canadian Press

The federal government estimates it will need to pay almost $3.4 billion for its share of the disaster recovery bills for flooding and landslides that devastated British Columbia’s Fraser Valley in November 2021. But more than two years after that

Good listener boss, listen and accept all opinion, suggestion or customer feedback concept, smart businessman
News InsuranceLegislation / Regulation

FSRA board director defends principles-based regulation

March 12, 2024 by David Gambrill

Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed

Quantum computing could be a game changer for the insurance industry
News InsuranceTechnology

What quantum computing could mean for insurance

March 12, 2024 Jason Contant

What will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such

Rideshare driving checking on his app to get a new customer
News BrokersClaimsInsuranceLegal

Do gig-driver clients have the right auto coverage?

March 11, 2024 Philip Porado

With accident claims up sharply post-pandemic, transportation network companies (TNCs) like Uber, Lyft and others are aggressively managing the insurance coverage they offer to gig drivers to ensure they have a handle on fraud. “You’re going to get some claims

News BrokersInsurance

Why your clients may want to change their auto coverage now

March 11, 2024 by Alyssa DiSabatino

There’s a 37% chance your clients are making changes to their driving routines, and that means they may need to update their auto coverage, according to a recent survey by RatesDotCa.   Canadians who are planning to make changes to

Discussing financial results
News ClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / CoveragesTechnology

How Aviva Canada is handling personal lines’ pressures

March 8, 2024 by Jason Contant

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up

Two companies signing an agreement to merge
News BrokersInsurance

Two firms complete Ontario acquisitions

March 8, 2024 Philip Porado

BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides

Home with truck outside
News CatastrophesClaimsInsuranceRisk

What insurers can expect from FSRA’s review of home insurance claims

March 8, 2024 by Alyssa DiSabatino

Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm.  Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,

insPRESS Insurance

30 Forensic Engineering Recognizes International Women’s Day 2024 – Inspire Inclusion

March 8, 2024 30 Forensic Engineering

TORONTO, ON, MARCH 8, 2024 /insPRESS/ –  International Women’s Day (March 8) is a global day celebrating the social, economic, cultural and political achievements of women. As stated by the IWD, “Collective action and shared ownership for driving gender parity is what