Canadian Underwriter

Topic
Commercial Lines


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,

Business benefits professional signing a piece of paper on a clear desk
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

What’s new about Westland’s latest deals

November 10, 2023 by Alyssa DiSabatino

Westland Insurance announced its partnership with employee benefits and retirement solutions provider Prime Benefits Group Inc.  Westland said the deal is part of its strategy to enhance its group benefits portfolio and strengthen its position in the Canadian market.   Based

News BrokersCatastrophesCommercial LinesInsuranceMarkets / Coverages

How Intact’s third quarter results shaped up

November 9, 2023 by Alyssa DiSabatino

Intact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and commercial lines in 2023 Q3, and predicts this

Burning hay stacks
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / Coverages

Why hay barn fires catch insurers’ attention

November 9, 2023 by Jason Contant

The massive amount of water and firefighting resources required to put out hay barn fires is just one reason why these blazes are so stubborn, an industry professional said at the Farm Fire Summit last week.  A multi-million-dollar hay barn

Mergers and acquisitions with a technology background
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

What P&C brokerage buyers are really looking for

November 8, 2023 by Jason Contant

Buyers of Canadian P&C brokerages are becoming more selective about the brokerages they will pursue, with an increase in demand for commercial lines-focused brokerages, a new report from advisory firm Smythe LLP says. P&C consolidators continue to diversify their acquisitions,

News BrokersCommercial LinesInsurance

Industry responds to Alberta rate cap extension

November 3, 2023 by Alyssa DiSabatino

Alberta’s promise to cap auto insurance rate increases for “good drivers” in the province will not help consumers achieve affordability and only put further financial strain on auto insurers, property and casualty insurance industry experts warn.  Ultimately, it could lead

Shopping for a new car
News BrokersCommercial LinesInsurance

Alberta UCP announces return of the auto rate cap

November 2, 2023 by Alyssa DiSabatino

Alberta’s United Conservative Party (UCP) is committed to retaining auto rate caps for “good drivers” into 2024, which auto insurers say would amount to keeping the auto rate cap on 80% of the province’s drivers.   The province’s proposed auto

Farm in rural Ontario
News Commercial LinesConstructionEngineeringInsuranceMarkets / Coverages

Will building code changes affect farm fire severity?

November 2, 2023 by Jason Contant

With changes from the National Building Code of Canada (NBC) in the process of becoming law in Ontario next spring, farm insurance experts are raising concerns that the maximum barn size restriction will be removed and Ontario’s Fire Code (OFC)

Concept of secure medical records
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

Ontario hospitals warn stolen patient, employee data may be published  

November 2, 2023 The Canadian Press

Five Ontario hospitals affected by a recent ransomware attack, along with their shared IT provider, are warning patients and staff that their data may be published.   The attack caused an outage of some online services at Bluewater Health, Chatham-Kent Health

Canada and Quebec flags
News BrokersCommercial LinesInsuranceLegalLegislation / RegulationMarkets / Coverages

How Quebec’s language law may affect outside insurance providers

October 30, 2023 by Jason Contant

Quebec’s recently enacted language law is creating concerns that smaller insurance providers may consider pulling out of the province. Bill 96 (Law 14), An Act respecting French, the official and common language of Québec, came into effect June 1. Under

Canadian border with the USA. Canadian customs. Semi-trucks paying at toll booths
News ClaimsCommercial LinesInsuranceLegalMarkets / Coverages

How Northbridge beat the taxman

October 26, 2023 by David Gambrill

Northbridge is allowed to claim GST input tax credits for insurance policies it issued to trucking companies operating in both Canada and the United States, the Federal Court of Appeal has ruled. The decision overturned a Tax Court of Canada

Financial volatility
News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Is it time for a new reinsurer to enter the market?

October 25, 2023 by Jason Contant

Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never