Canadian Underwriter


Stressed out person working from home.
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsProfessional Development

Yes, COVID-19 really did boost broker workloads

June 20, 2022 David Gambrill

While the pandemic created extra work for brokers, it also highlighted the value of the broker proposition, which includes, choice, advice and advocacy, according to Canadian Underwriter‘s 2022 National Broker Survey, which asked more than 250 brokers nationwide about challenges

Riot police dealing with a protest and fire on a city street.
News CatastrophesClaimsCommercial LinesConstructionInsuranceReinsuranceRisk

How to help your clients prepare for civil unrest

June 16, 2022 Philip Porado

Strikes, riots and violent protests sparked by inflation pose risks to companies, both in terms of physical damage to buildings and other assets, as well as income loss due to business interruption and an inability to access premises, said a

Retro telephone urging brokers to call their clients
News BrokersClaimsCommercial LinesConstructionInsurance

How to help your commercial clients align coverages with rising insured values

June 10, 2022 Philip Porado

Steep inflation means brokers should consider approaching commercial clients about mid-term adjustments in insured values. “We’re definitely seeing more awareness around inadequate insurance-to-value ratios,” said Paul Gallately, assistant vice president of risk control with Travelers Canada. “It comes down to

House being lifted away by balloon.
News BrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsuranceRisk

Remember 1970s stagflation? Why insurers should pay attention to the World Bank

June 7, 2022 Philip Porado

Lingering impacts of COVID-19 and Russia’s invasion of Ukraine have magnified a global economic slowdown and raised the risk of stagflation – in which long-term, feeble growth combines with high inflation – the World Bank says in its latest prospects

Cars on a robotic assembly line in a commercial facility.
News BrokersCommercial LinesConstructionInsuranceMarkets / CoveragesProductsRisk

Inflation creates need for brokers to revisit coverage levels with their clients

June 3, 2022 Philip Porado

Brokers are typically leading conversations about inflation-driven insurance value adjustments for commercial building owners and builders, said Bernard McNulty, chief agent and head of claims, Allianz Global Corporate Specialty. But, he added, clients also are contacting brokers to inquire about

Shot of a young man and woman going over building plans at a construction site
News ClaimsCommercial LinesConstructionEngineeringInsuranceLegal

Insurers must defend, even if damage falls below the deductible

May 24, 2022 by David Gambrill

Insurers have a duty to defend in construction cases involving policy exclusions for a “work performed” or “own work,” even if the amount of property damage claimed falls under the policy deductible, Ontario’s Court of Appeal has ruled. In GFL

Commercial building being rehabilitated
News AdjustersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRestoration

Brokers beware: High inflation may catch up to claims valuation software

May 20, 2022 Philip Porado

Valuation models in software systems used by insurers to calculate replacement and restoration costs for commercial structures must be checked more often when inflation’s running high. That’s because costs for labour, lumber, drywall, concrete and other construction materials can jump

Map of Canada
News CatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 Canadian Underwriter Staff

P&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively

House framed in new lumber while under construction
News AdjustersCatastrophesClaimsClaims CanadaConstructionEngineeringInsuranceMarkets / CoveragesRestoration

Rising lumber, materials costs lead claims professionals to tweak their approach

May 16, 2022 Philip Porado

With the inflation rate at a 30-year high, specialists handling home reconstruction claims are making adjustments that reflect surging prices for construction components – including lumber, finishing materials and appliances. What started as supply chain problems, some of which were

Gavel representing court decision.
News AdjustersBrokersClaimsClaims CanadaCommercial LinesConstructionInsuranceLegalRestoration

3 lessons about brokers’ obligations to insureds

May 6, 2022 Harmon C. Hayden

A broker has an obligation to help clients understand policy specifics and avoid coverage gaps, and it’s not necessarily going to save them if the client hasn’t reviewed the policy, the British Columbia Court of Appeal found recently in Alvaro

Disco ball.
News ClaimsClaims CanadaCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesProductsRisk

What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising

Luxury new house in suburbs.
News BrokersClaimsConstructionInsuranceProductsRestoration

How guaranteed replacement fits within a world of rising home costs

April 26, 2022 Philip Porado

While federal budget proposals aimed at dampening home-price escalation may modestly help insurers control reconstruction costs for insureds, there’s another side to the conversation. What if it doesn’t work? Beyond price appreciation, lots of factors — like updates to building