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P&C Companies
2024 Executive Outlook | Christian Fournier, Beneva
December 20, 2023 Canadian Underwriter StaffChristian Fournier, executive vice president and leader – property and casualty insurance, Beneva With inflation continuing to affect every citizen and organization, one could say 2024 will be the same as 2023. Consumers will be living on a tight personal…
2024 Executive Outlook | Shawn DeSantis, Navacord
December 20, 2023 Canadian Underwriter StaffShawn DeSantis, president, CEO, Navacord It is clear 2024 will bring a new set of challenges, with several themes influencing the Canadian P&C insurance industry. The economic environment is evolving. Preparing our businesses and successfully managing through the implications of higher interest…
2024 Executive Outlook | Philomena Comerford, Baird MacGregor
December 19, 2023 Canadian Underwriter StaffPhilomena Comerford, president, CEO, Baird MacGregor Technology will continue to change the way we work, presenting both productivity opportunities and oversight challenges for our industry and our workforce. Artificial intelligence (AI) has the potential to vastly improve our industry’s efficiency, allowing us…
2024 Executive Outlook | David Bowcott, NFP
December 19, 2023 Canadian Underwriter StaffDavid Bowcott, co-leader, NFP Construction & Infrastructure Group As we enter 2024, signs exist the Canadian P&C insurance hard market is abating. But clients are nevertheless putting in place measures they hope will sustain them through future hardening. We are beginning…
2024 Executive Outlook | Abraham Baboujian, RRJ Insurance Group
December 19, 2023 Canadian Underwriter StaffAbraham Baboujian, president/co-CEO, RRJ Insurance Group 2024 will see a sense of calm and maturity in our attempts to come to grips with three issues dominating the P&C landscape — cyber, digital/technology transformation, and climate change. Cyber will continue to make…
How insurers can manage losses as NatCat events ramp up
December 18, 2023 Philip PoradoWhatever’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…
Intact Insurance names president
December 15, 2023 by Jason ContantIntact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in…
Do auto clients ask for trouble by hiking deductibles?
December 15, 2023 Philip PoradoDuring the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
Can Canada’s P&C industry catch up to NatCats?
December 14, 2023 Philip PoradoIn 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…
How COVID-19’s wane could change commercial real estate coverage
December 13, 2023 Philip PoradoReal estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that…
MGA acquires Echelon’s surety division
December 11, 2023 by Jason ContantMontreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
How new vehicle tech is changing the auto theft equation
December 11, 2023 Philip PoradoThere’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…