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Commercial bond demand prompts new hire at AXA XL

August 22, 2022 Canadian Underwriter Staff

Continued demand among Canadian businesses for commercial bonds prompted AXA XL to appoint Cedric Franklin as vice president and regional director for Canada, the company said. “Commercial bonds are in high demand from companies seeking alternative financial solutions at a

A blue car bumper is smashed
News BrokersClaimsInsurance

Do new cars reduce fatality for women in accidents?

August 19, 2022 by Alyssa DiSabatino

Women are safer driving newer cars, a new report by the U.S. National Highway Traffic Safety Administration suggests. Female fatality risk compared to male fatality risk is significantly reduced in newer vehicles, starting with model year 2000, the report finds.

Smoke and fire burns through a dense evergreen forest
News BrokersClaimsClimate ChangeInsuranceRisk

Why B.C’s heat dome puts the industry on alert for wildfires

August 18, 2022 by Alyssa DiSabatino

A heat wave building across western Canada and the Prairies could worsen wildfires, which have already burned more hectares this year over last despite fewer fires to date, one industry expert observes. This week, Alberta, British Columbia and Saskatchewan will

Father handing son car keys
News BrokersInsuranceLegislation / Regulation

B.C. broker suspended one year for misrepresenting principal driver of her car

August 18, 2022 by David Gambrill

A B.C. broker’s license has been suspended for one year after a regulatory investigation into her processing her own ICBC Autoplan transactions uncovered that she had misrepresented the principal driver of her personal vehicle on several ICBC policies. “Council found

Marketing financial products to women
News BrokersEmploymentInsuranceProfessional Development

Are brokers and agents marketing effectively to women?

August 18, 2022 Canadian Underwriter Staff

More than 60% of women don’t have an insurance agent, compared with fewer than half (48.1%) of men, according to a new study from Zelros, a Paris-based insurtech with offices in Montreal and New York. The survey includes data from

High cost of housing repairs are fueling rising insurance claims costs
News BrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRestoration

Deloitte report: How microeconomic factors will impact claims costs

August 17, 2022 Philip Porado

Yes, overall inflation is high. One trip to the grocery store demonstrates that faster than a macroeconomics refresher lecture. So will a glance at Canada’s June 2022 Consumer Price Index, which jumped 8.1% over the prior year to mark its

Man at gas pump can't bear to look at the price he'll pay to refuel.
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProducts

As inflation and supply chain concerns ease, will insurers adjust pricing?  

August 16, 2022 Philip Porado

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor,

Three wooden blocks stacked on one another, each with the words "equity," "diversity," "inclusion" on them on after another.
News BrokersInsurance

How P&C companies can improve their DEI outlooks

August 11, 2022 by Alyssa DiSabatino

Although many in the industry understand the value of diversity, equity and inclusion (DEI), companies that aren’t sold on the value proposition may nevertheless benefit from viewing DEI as risk management, suggests The Canadian Association of Black Insurance Professionals (CABIP).

News BrokersInsuranceMergers and Aqcuisitions

Navacord makes its largest deal of the year

August 10, 2022 by Alyssa DiSabatino

Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022.   Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock,

Piggy bank textured with Canadian flag isolated on white background.
News BrokersInsuranceProducts

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

Illustration of a woman opening the door of a small business with light fixtures hanging on the inside of the window and a bike and other floral decor on the outside
News BrokersInsurance

Why some small business owners don’t have insurance

August 9, 2022 by Alyssa DiSabatino

Almost 40% of small business owners say they don’t have a business insurance policy, and another 25% say they don’t think they need it, finds a recent survey of 222 small business owners and self-employed professionals in Canada.   The

Big forest fire and clouds of dark smoke in pine stands. Flame is starting to damage the trunk. Whole area covered by flame
News AdjustersBrokersCatastrophesClaimsClaims CanadaInsurance

Newfoundland’s largest wildfire in 60 years: what the P&C industry needs to know

August 8, 2022 by Alyssa DiSabatino

A long-burning forest fire in Newfoundland has charred over 10,800 hectares, but one claims professional says they’ve yet to see any claims come through, since the affected areas are not densely populated.  The fire has been burning for close to