Canadian Underwriter

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Insurance

News InsurancePodcast

What’s on Dec? | Episode 13 | Auto theft summit

March 18, 2024 by Canadian Underwriter

In February, the federal government heeded auto insurers’ call for a summit to address the rising rates of auto theft across the country. In 2022, Canada’s P&C industry paid out $1.2 billion in auto theft insurance claims, the first time

Person handing a stack of money toward the camera as a form of insurance salaries
News BrokersCommercial LinesEmploymentInsurance

What commercial and personal lines brokers make in 2024

March 18, 2024 by Alyssa DiSabatino

Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows.  The second iteration of Impact’s annual Insurance

A glowing quantum computer
News InsuranceTechnology

How quantum computing could impact risk management and claims

March 18, 2024 Jason Contant

Quantum computing’s impact on P&C insurance operations will be wide-ranging, say several sources who spoke with CU. Almost every sector and department of the industry could be affected, including actuarial, risk management and underwriting teams, data analytics, IT, claims processing,

A quad on its side after it has been accidentally flipped.
News ClaimsInsuranceLegalLegislation / Regulation

‘Negligent operation’ of ATV includes turning it over to inexperienced driver

March 18, 2024 by David Gambrill

If parents permit an adult child to use their all-terrain vehicle (ATV), and the son or daughter then negligently turns over control of that ATV to an inexperienced driver who gets seriously injured in a crash, the parents can be

Boardwalk trail at One Mile Lake in Pemberton, BC
News ClaimsClaims CanadaInsurance

B.C. bridge vulnerable during heavy rain events, mayor says

March 18, 2024 Roisin Cullen, Local Journalism Initiative Reporter, Pique Newsmagazine – The Canadian Press

Pemberton’s recent heavy flooding highlights the challenges the area faces, according to Mayor Mike Richman.  The Village of Pemberton (VOP) declared a state of local emergency on Jan. 30 due to flooding, and many locals were displaced from their homes

Rideshare driver calls his insurance company after a minor accident
News BrokersClaimsInsurance

Brokers: how to advise rideshare drivers on their deductibles

March 15, 2024 Philip Porado

Drivers working for rideshare and delivery companies must be careful when setting deductibles on personal auto coverage. And they need to make sure their personal insurers know they’re doing rideshare work and carry the appropriate endorsements. A lot of drivers

Much of Nova Scotia paralyzed following snowstorm
News AdjustersBrokersCatastrophesClaimsClimate ChangeInsuranceRisk

How winter storms tally this year compared to last

March 15, 2024 by Alyssa DiSabatino

Maritimers were digging out for days after historic levels of snowfall dropped atop Nova Scotia and P.E.I. in early February.   The multi-day storm produced nearly 5 feet of snow in Cape Breton, N.S. Then about two weeks later, Nova Scotians

News CatastrophesInsurance

Quebec lender ending new mortgages in flood zones. Is insurance next?

March 15, 2024 Morgan Lowrie - The Canadian Press

QUEBEC — Nearly five years after floods raced through hundreds of Quebec communities and forced thousands from their homes, a major lender’s decision to stop issuing new mortgages in flood zones is the latest challenge for cities trying to adapt

Police badge and handcuffs on a computer to represent regulators cracking down on computer crime
News InsuranceTechnology

How quantum computing creates new risks, regulatory issues for insurers

March 14, 2024 Jason Contant

Quantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing

Patrick Ballantyne Board Chair, CISRO
News AppointmentsBrokersInsuranceLegislation / Regulation

Meet CISRO’s new board chairman

March 14, 2024 by David Gambrill

Patrick Ballantyne, CEO of Ontario’s insurance broker regulator since 2016, is now board chairman at the Canadian Insurance Services Regulatory Organizations (CISRO). CISRO is a national forum of Canadian regulatory authorities dedicated to consistent qualifications and conduct of business standards

Three hands holding jigsaw puzzle pieces
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Navacord expands with third acquisition of the year

March 14, 2024 by Alyssa DiSabatino

All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year.   Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks

Cargo airplane flying over container ship in the ocean.
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

One emerging threat to your business clients’ supply chains

March 13, 2024 by Alyssa DiSabatino

Geopolitical conflict is wreaking havoc on your business clients’ supply chains, a new Marsh report finds.   It’s required businesses to find better ways to mitigate or transfer specific risks before they develop into something of concern, according to Marsh