Topic
Earnings / Ratings
Board finds insurance reserves regulation “invalid”
December 9, 2019 by Jason ContantManitoba’s Public Utilities Board (PUB) has found a recently enacted insurance reserves regulation to be “invalid.” The Reserves Regulation sets out the manner of determining the amount to be maintained by the Manitoba Public Insurance (MPI) Corporation in its reserves…
Market outlook
December 6, 2019 David Gambrill, Editor in ChiefCanadian Underwriter fearlessly predicts the end of the hard market
Trade conflicts and uncertainty remain a key risk: Bank of Canada
December 4, 2019 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, noting that while global recession concerns are waning, trade conflicts and related uncertainty continue to remain a key risk. The central bank’s overnight rate target has…
You think the auto market is bad? Check out personal property…
October 10, 2019 by Jason ContantThe hard market is showing no signs of abating, with all provinces posting premium rate increases in personal lines in the latest quarter, according to Applied Systems’ most recent rating index. Personal property premiums increased on average by 13.6% compared…
Where Q2 personal auto premiums increased the most in Canada
July 17, 2019 by Jason ContantThe hard market continues in personal lines in Canada, with personal auto in Quebec seeing a significant increase in average premiums in Q2 2019, according to Applied Systems’ latest rating index. Last week, the insurance software vendor released its most…
What is costing Alberta auto insurers the most
June 13, 2019 by Jason ContantThird-party liability coverage continues to be the bane of Alberta auto insurers’ existence, the province’s Automobile Insurance Rate Board (AIRB) revealed in its 2018 annual report. Provincial auto insurers collect 53% of every dollar for third-party liability coverage, but are…
How Fairfax’s Allied World acquisition is working out
May 10, 2019 by Greg MeckbachOld medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based…
Is the reserve release tank running on empty?
April 15, 2019 by David GambrillThe Canadian property and casualty industry saw its reserve releases contract in 2018 to their lowest level in seven years, according to MSA’s Q4 2018 Quarterly Outlook. Expressed as a percentage of loss development margin, reserve releases last year amounted…
All bets are off on timing of interest rate increase
March 8, 2019 Andy Blatchford - THE CANADIAN PRESSOTTAWA – A weak data report “surprised” the Bank of Canada ahead of its decision to cast doubts about future interest-rate hikes and to warn Canadians the ongoing slump could prove to be unexpectedly stubborn, says one of the bank’s…
What it will take for another interest rate hike
February 21, 2019 Andy Blatchford THE CANADIAN PRESSOTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor…
By how much did your clients’ auto rates increase last quarter?
January 24, 2019 by David GambrillOntario auto insurance rates increased by an average of 3.35% in the fourth quarter of 2018, with several companies receiving approval for double-digit rate increases, the province’s regulator reported. Overall, 23 insurers representing approximately 51% of the market based on…
All provinces saw rate increases in Q4 2018: Applied
January 10, 2019 by Jason ContantEvidence of a hard market in personal lines in Canada was apparent in Applied Systems’ latest quarterly Applied Rating Index, released Tuesday. The Q4 2018 index found that average premiums for personal auto and personal property lines increased by more…