Canadian Underwriter

Segment
Consumers


Close up of an industrial bricklayer installing bricks to build back on a construction site
News BrokersCatastrophesClaimsInsurance

Should insurers help customers build back better…or not at all?

January 4, 2024 Philip Porado

Increased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to

Kenny Nichols, Western Financial
News BrokersInsurance

2024 Executive Outlook |Kenny Nicholls, Western Financial Group

December 26, 2023 Canadian Underwriter Staff

Kenny Nicholls, president, CEO, Western Financial Group If there’s ever been a time for all industry players to come together and focus on the consumer, it is now. Much of the insurance industry’s focus over the past few years has been on

Insurance losses going down the drain
News CatastrophesClaimsInsurance

How insurers can manage losses as NatCat events ramp up

December 18, 2023 Philip Porado

Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars

Fire, flood, hurricane
News BrokersCatastrophesClaimsInsurance

Can Canada’s P&C industry catch up to NatCats?

December 14, 2023 Philip Porado

In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents

News BrokersInsurance

How insurance premium financing enhances client relationships

December 13, 2023 Jeffrey Psiuk

Canadian brokerages aren’t taking full advantage of an opportunity to arrange premium financing for their clients, particularly for commercial policies covering broad-based risks. In Canada, only 15% of brokered premiums are financed. By comparison, the U.K. rate is 20%, and

Minor car accident
News BrokersClaimsInsurance

How economic woes hike minor accident claims

December 13, 2023 Philip Porado

Current economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds are taking place more frequently, she told CU, with many taking place

Carjacker with gun
News BrokersClaimsInsuranceTechnology

How new vehicle tech is changing the auto theft equation

December 11, 2023 Philip Porado

There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to

Social media hiring
News EmploymentInsuranceProfessional DevelopmentTechnology

Why you should use consumer advertising to recruit talent

December 4, 2023 by Jason Contant

Canadian P&C insurance industry companies may want to consider leveraging existing consumer advertising tactics, including social media channels like TikTok, and apply them to recruitment efforts. It’s no secret the industry continues to face a ‘war for talent,’ particularly as

Businessman using laptop with AI, tech, auto and travel insurance concepts
News ClaimsClaims CanadaInsuranceMarkets / CoveragesProductsTechnology

Why you need to consider embedded insurance

November 23, 2023 by Jason Contant

Embedded insurance not only enhances the customer experience but also provides greater access to data for insurers, speakers said during KPMG’s recent 2023 Insurance Conference in Toronto.  “You unlock a lot of data that will change the way you do

Person getting hurt while riding an e-scooter
News ClaimsInsuranceLegal

Whose insurer pays when e-scooter drivers crash?

November 17, 2023 Philip Porado

News reports about drivers of stand-up e-scooters injuring pedestrians in several Canadian cities are raising questions about insurance coverage for the vehicles — and how injured pedestrians might recover damages. But what about the e-scooter drivers themselves? Can they recover

Winter driving on a slippery road
News ClaimsInsuranceMarkets / Coverages

Why more Canadian drivers are using winter tires

November 14, 2023 by Jason Contant

Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and Rubber Association of Canada

Global cyberattack
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesProductsRiskTechnology

Is it time for a new approach to systemic cyber?

November 10, 2023 by Jason Contant

Systemic cyber risk needs to be tackled with more capacity and ways of dealing with the attritional cyber market, Marc Lipman, president and attorney-in-fact at Lloyd’s Canada, suggested during an industry event last month. “Just like there developed a traditional,