Topic
Earnings / Ratings
Ontario auto insurance rates increased in last quarter of 2017
January 12, 2018 Allison Jones - THE CANADIAN PRESSTORONTO – Auto insurance rates in Ontario increased in the last quarter of 2017, putting the Liberal government further away from its promise to cut rates by 15 per cent. Fourth quarter numbers released today by the Financial Services Commission…
Why insurers don’t want a sudden hike in interest rates
January 8, 2018 by Greg MeckbachInsurers might be happy if lending rates rise by a few percentage points, but a financial executive with one mutual warns a sudden rise in interest rates carries a noticeable risk. The Bank of Canada announced in December it is…
How insurers protect their earnings against multiple catastrophes
January 4, 2018 by David GambrillWith the rise of multiple major catastrophe events in Canada, look for primary insurers to start seeking aggregate reinsurance covers as a means to adapt to climate change-related losses. “It’s the new normal that the companies are going to have…
2018 Outlook: John Taylor, President, CEO, Ontario Mutual Insurance Association (OMIA)
January 3, 2018 John TaylorA lot of time and effort in 2018 will be spent reviewing this past year, which could be characterized as “the year of the water claim.” Almost all Ontario mutuals were exposed to one or more heavy rainfall events in…
Blame auto losses for lackluster 2017 P&C results
January 2, 2018 by Greg MeckbachDespite a “relatively benign” year in Canada for catastrophes in 2017, the industry-wide combined ratio in Canada was still fairly high at 96.8% during the first nine months of last year, with auto results partly to blame, MSA Research reported…
2018 Outlook: Ulrich Kadow, Chief Agent of Canada, Allianz Global Corporate & Specialty Americas
December 29, 2017 Ulrich KadowAcross all markets, including Canada, pricing levels are generally at historic lows, which in many cases are well below technical pricing recommendations. Globally, recent natural catastrophes have highlighted the increasing frequency and potential severity of major events, potentially leading to…
Politicians at odds with industry over territorial rating
December 18, 2017 by Canadian UnderwriterUsing postal codes to determine auto insurance rates could come to an end if the Progressive Conservatives win the next Ontario election. “Geographic discrimination should be eliminated while not raising rates on other parts of the province,” a spokesperson for…
Catastrophes likely to have “muted” effect on Canadian reinsurance pricing
December 4, 2017 Jason Contant, Online EditorReinsurance rates in Canada will likely not decrease and there may be some “upward movement in certain regions” following the historically massive catastrophes in the third quarter, MSA Research president and CEO Joel Baker suggested Monday. The catastrophes – including…
Will nat cats increase product pricing in Canada?
November 28, 2017 Jason Contant, Online EditorIncreases in natural catastrophes and the price of reinsurance could also drive up the price of insurance products in Canada, the federal financial regulator said Tuesday. “Our concern is in the longer run, we’ll see increases in the price of…
Feds looking to tax broker dividend strategy
November 20, 2017 Greg Meckbach, Associate EditorBrokerage owners who pay their young adult children dividends to help with post-secondary education should “reassess” that strategy in light of proposed tax changes, an accounting expert suggested Monday. Among the proposed changes announced in July by Finance Minister Bill…
Cyber influence on insurer ratings mostly gradual: Fitch
November 13, 2017 by Canadian UnderwriterThe influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty…
New Editor-in-Chief for Canadian Underwriter as veteran journalist David Gambrill returns
November 13, 2017 Canadian UnderwriterTORONTO, Nov. 13, 2017 /insPRESS/ – Newcom Business Media Inc. is pleased to announce the appointment of David Gambrill as Editor-in-Chief of Canadian Underwriter. “David is an award-winning writer and editor who’s arguably Canada’s most experienced and knowledgeable insurance journalist,”…