Canadian Underwriter


Employees working on construction site,
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One key difference between a builders’ risk policy and a liability policy

August 30, 2022 by David Gambrill

Starr Insurance & Reinsurance Limited does not have to defend its insured in a Quebec construction case, because its builders’ risk policy is essentially a property policy, not a liability policy, Quebec’s Superior Court has ruled. In construction, a builders’

Tanker carrying liquified natural gas from Canada
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Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?

August 26, 2022 Philip Porado

Canadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need

Top View of Architects and Engineer Workers With Blueprints discussing at a construction site
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Trial required to assess Zurich’s right to rescind surety bonds: Appeal Court

August 25, 2022 by David Gambrill

As a matter of legal principle, Zurich can rescind performance and payments surety bonds based on fraud or misrepresentation, even if that would affect the rights of innocent third parties in a construction dispute, Ontario’s Court for Appeal has ruled.

Multi-level highway through a mountain canyon.
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Court orders Travelers to defend “your work” exclusion case in Quebec

August 17, 2022 by David Gambrill

Quebec’s Court of Appeal has rejected Traveler’s challenge of a Wellington-style motion that requires the insurer to defend a construction contractor in a “your work” exclusion case against Quebec’s attorney general. The appeal court also rejected Tuesday Traveler’s motion to

High cost of housing repairs are fueling rising insurance claims costs
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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.
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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,

Construction hoarding and danger sign to keep people off a building site
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Why the basics count in construction loss prevention

August 9, 2022 Philip Porado

Inflated materials costs, and a need for brokers and insurers to see to it that valuations for commercial structures closely track replacement costs, are frequently mentioned in conversations about risks for the building sector these days. But site safety is

Dangerous staircase at a business to represent insurer risk
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Inflation creates opportunities for brokers to revisit risks with clients

August 8, 2022 Philip Porado

Recent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada

Coins being squeezed by vice grip pliers
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Will inflation reboot the P&C hard market?

August 5, 2022 Philip Porado

Although the commercial insurance market shows signs of gradually shifting toward more stable conditions, the hard market isn’t yet in the rear-view mirror and a soft market hasn’t arrived. “I would say we are more in a transitioning market [and]

Stack of 45-rpm hit records
News BrokersCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

P&C industry’s 2021 results: A one-hit wonder?

July 28, 2022 Glenn McGillivray

Last year was generally the most favourable for Canada’s insurers in a while – since 2006 as a matter of fact – with the industry’s return on equity (ROE) coming in at a solid 17.2% (against 11.2% in 2020). ROE

Prospector panning for gold in the old west.
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How the pandemic changed broker prospecting for new business

June 30, 2022 David Gambrill

High workloads during the pandemic had an impact on brokers’ ability to prospect for new business, Canadian Underwriter‘s 2022 National Broker Survey found. The survey asked more than 250 brokers nationwide in February about challenges to the broker distribution channel.

Fire Debris of Houses in a small town with smoke in sky.
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Why it’s taken a year to get Lytton, B.C.’s post-wildfire rebuild underway

June 29, 2022 by David Gambrill

To the naked eye, not much has changed since Lytton, B.C. was razed by a June 30, 2021 wildfire, causing an estimated $100 million in insured damage. Coming up on the fire’s one-year anniversary, debris-removal work has finally begun for