Canadian Underwriter


IT engineer working on protecting a network
News InsuranceProfessional Development

How the cyber line should source its talent

June 8, 2023 by Alyssa DiSabatino

When recruiting for talent to sell cyber insurance, widening the expectations around job experience may be one place to start, suggested experts at a Gallagher Re Industry Event in Toronto. “The space is changing so quickly that 15- or 20-years’

Contract waiting for a signature
News AnnouncementsBrokersCommercial LinesInsuranceMergers and Aqcuisitions

Acquisition broadens NFP’s Ontario base

June 8, 2023 Philip Porado

NFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”

Girl after shopping discovered the loss of her automobile. Angry woman talking about missing car on phone. Vehicle theft concept
News AssociationsClaimsInsuranceLegalLegislation / Regulation

Auto insurers pay out record amount for auto theft

June 8, 2023 by David Gambrill

Supply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in

Wildfires releasing CO2 emissions and other greenhouse gases
News CatastrophesClaimsClimate ChangeInsurance

More evacuations in Quebec as record breaking fires continue to burn

June 8, 2023 Sidhartha Banerjee and Jacob Serebrin

MONTREAL — Quebec’s wildfire season, which has forced thousands from their homes and left other communities on high alert, is the worst on record, officials said Wednesday. Premier Francois Legault told reporters in Quebec City that the areas in the

Young business partners in an office
News BrokersInsuranceMarkets / CoveragesProfessional Development

Will lack of diversity mean the end of your brokerage?

June 7, 2023 by Jason Contant

Investing in diversity, equity and inclusion (DEI) initiatives could literally spell the difference between survival and death for a brokerage, a panellist suggested Tuesday during a Canadian Underwriter webinar. Colette Taylor, chief operating officer at Sovereign Insurance, expressed concern about

Mergers and acquisitions due diligence is important
News BrokersInsuranceMergers and Aqcuisitions

Will fewer mergers reduce reps and warranties insurance pricing?

June 7, 2023 Jason Contant

Pricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising

Hand flipping wooden cube block
News Earnings / RatingsInsurance

Bank of Canada raises key interest rate amid stubbornly high inflation

June 7, 2023 The Canadian Press

OTTAWA – The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001.

Diversity in the workplace
News AssociationsBrokersInsuranceMarkets / Coverages

Easy, low-cost ways to improve DEI at your brokerage

June 6, 2023 by Jason Contant

Brokerages that might not have resources to embark on large-scale diversity, equity and inclusion (DEI) programs can start small by committing to change, a speaker said Tuesday during a Canadian Underwriter webinar. “If you’re a small brokerage, maybe don’t have

Happy car salesman showing a car to his customer in a showroom.
News BrokersInsuranceLegislation / Regulation

Province to launch restricted licence for incidental insurance

June 6, 2023 by David Gambrill

B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which

Two groups of employees join together after merger
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

BrokerLink buys Burlington brokerage

June 6, 2023 Philip Porado

For the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),

Smoke rises from wildfires in the Halifax area
News AdjustersClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesRestoration

Will this be the worst wildfire season Canada has ever seen?

June 6, 2023 Mia Rabson - THE CANADIAN PRESS

OTTAWA – This is on track to be the worst fire season Canada has ever seen and the risk of wildfires will remain well above average in most of the country throughout the summer, the federal government warned Monday. At

insPRESS Insurance

Origin and Cause Expands Team with Materials Engineer in Vancouver, B.C. 

June 6, 2023 Origin and Cause

VANCOUVER, BC, JUNE 6, 2023/insPRESS/ – Origin and Cause, a leading forensic engineering and fire investigation firm with offices across Canada, is proud to announce the addition of Paul Emadi, Ph.d., P.Eng. to their Vancouver office.   Paul is a Materials