Canadian Underwriter

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Insurance


A fourplex destroyed by a wildfire at Sturgeon Lake Cree First Nation.
News CatastrophesClaimsClaims CanadaInsurance

Warm and dry weather prompts Alberta to declare an early start to wildfire season

February 21, 2024 The Canadian Press

EDMONTON – The Alberta government has declared an early start to the 2024 wildfire season in the face of low snowpacks and forecasts of dry weather to come. Alberta Forestry and Parks Minister Todd Loewen said Tuesday the season is

Arrows pointing up symbolizing growth
News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

PE-driven M&A is slowing, despite record deals in 2023

February 20, 2024 by Alyssa DiSabatino

Despite some consolidators slowing their pace — namely, private equity firms — Canadian insurance brokerage M&A reached a record level of deals in 2023. There were 108 publicly announced deals last year, Smythe LLP, a P&C insurance advisory and consulting

Concept of decreasing inflation
News InsuranceMarkets / Coverages

‘Very pleasant surprise’: Canada’s inflation rate tumbled to 2.9% in January

February 20, 2024 Nojoud Al Mallees – The Canadian Press

OTTAWA – Canada’s inflation rate fell more than expected last month as price growth moderated across the economy, including outright price declines for gasoline, airfares and clothing. Statistics Canada reported Tuesday the annual inflation rate tumbled to 2.9 per cent

Fraser River in British Columbia
News ClaimsClaims CanadaInsuranceRisk

How insurers can help manage flood risk in Indigenous communities

February 20, 2024 by Jason Contant

Insurers need to play a greater role in helping to manage high-risk flood areas in Indigenous communities, a tribal chief said during the CatIQ Connect conference earlier this month. “At some point, you as insurers are going to have to

Arrows are not targeted, Failure to attack the target. unsuccessful.
News BrokersClaimsInsuranceLegislation / Regulation

CU Poll: Ontario’s DCPD auto reform widely viewed as a flop

February 16, 2024 by David Gambrill

Ontario’s property and casualty insurance professionals have widely panned the provincial government’s latest move to make mandatory Direct Collision Physical Damage (DCPD) coverage optional to reduce premiums. Canadian Underwriter conducted an online poll with more than 400 P&C professionals nationwide

News InsurancePodcast

What’s on Dec? | Episode 12 | Hospitality trends

February 16, 2024 by Canadian Underwriter

What’s the risk landscape look like for your hospitality clients post-pandemic? Listen as CHES Special Risk president and CEO Gary Hirst shares insights on the hospitality sector post-pandemic. He’ll discuss how different models of food delivery can affect insurance risk,

Engineer using thermal camera to inspect home
News ConstructionInsurance

Co-operators acquires home inspection firm

February 16, 2024 by Jason Contant

The Co-operators has entered the home services line of business with the acquisition of the parent company of home inspection firm Carson Dunlop & Associates Ltd. Co-operators Financial Services Limited, a wholly-owned subsidiary of The Co-operators Group Limited, announced the

Busy restaurant that needs to be insured properly
News BrokersClaimsInsurance

What brokers need to discuss with hospitality clients

February 16, 2024 Philip Porado

Hospitality providers are gradually emerging from a pandemic-era slump that nearly scuppered the industry in 2020 and 2021. The new normal, though, means restaurateurs, venue owners and other businesses likely need to review their insurance coverages and consider some very specific

COVID-19 hacker
News ClaimsClaims CanadaEmploymentInsuranceMarkets / CoveragesTechnology

Inadequate security led to breach that compromised Canadians’ info: watchdog

February 16, 2024 Jim Bronskill – The Canadian Press

OTTAWA – Government departments lacked adequate protections to fend off a “sophisticated and co-ordinated” cyberattack that compromised the sensitive information of tens of thousands of Canadians, the federal privacy watchdog has found. In a report tabled Thursday, privacy commissioner Philippe

Creating long-term value within your client base
News BrokersInsurance

Making clients valuable to your brokerage for the long term

February 15, 2024 Adam Mitchell

When it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C industry can’t operate at that level. You can’t sell

Cutting Canadian dollars to represent price cuts
News BrokersInsuranceMarkets / Coverages

Why D&O price cuts may not be justified

February 15, 2024 David Gambrill

Softer market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s

Business with Canadian flag in front
News InsuranceReinsurance

How reinsurers are sizing up Canada

February 15, 2024 by Alyssa DiSabatino

Reinsurers may start to view the great white north as an attractive market after the most recent Jan.1 2024 reinsurance renewal, one reinsurer shared at Cat IQ Connect in Toronto.  During the Renewals Season Recap discussion, moderator Donna Ince, senior