Canadian Underwriter

Topic
Insurance


Cloud computing and global cyberattack concept
News ClaimsClaims CanadaInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why systemic cyber remains an industry risk

January 30, 2024 by Jason Contant

Editor’s Note: An earlier version of this article said that CFC established the cyber monitoring centre when in fact they were the driving force behind its establishment. As well, the article implied that the centre has a link to insurance

A red toy car rests on top of columns of stacked coins, each coin increasing in size.
News BrokersInsurance

How auto theft will affect insurance in 2024

January 30, 2024 by Alyssa DiSabatino

Although the industry is trying to pump the brakes on auto theft across Canada, the national crisis is bound to get worse before it gets better, industry sources predict.   It means higher premiums for consumers who are already feeling

Business calculations
News ClaimsClaims CanadaInsurance

Regulator revokes healthcare provider licence for insurance fraud 

January 29, 2024 by Jason Contant

Ontario’s financial services regulator has revoked the healthcare service provider licence of a Markham clinic and imposed administrative penalties against the clinic and two individuals in connection with fraudulent billing practices.  The Financial Services Regulatory Authority of Ontario (FSRA) revoked

Ottawa, Canada - February 26, 2022: A fence remains in place one week after police cleared the area near Parliament Hill of trucker convoy protesters. Much of the fencing has been taken down but some of it remains near Wellington Street, and other strategic areas.
News InsuranceLegalLegislation / Regulation

Editorial | Public order laws and auto insurance don’t mix

January 29, 2024 by David Gambrill

Anyone seeking clarity on how the federal government’s Emergencies Act was supposed to apply to auto insurance cancellations won’t find it in the Federal Court of Canada’s latest ruling. The Federal Court of Canada last Tuesday found the federal government’s

School bus during a snow day
News ClaimsClaims CanadaInsurance

Snowstorm forces cancellations in Nova Scotia and eastern Newfoundland

January 29, 2024 The Canadian Press

HALIFAX – Most schools across Nova Scotia are closed today after an overnight snowstorm moved into the province and headed to eastern Newfoundland. Snowfall warnings are in effect for Nova Scotia’s Atlantic coast from Yarmouth in the south to Sydney

Female leader mountain climber is celebrating her success and watching the beautiful scenery of forest and mountain range
News AnnouncementsBrokersClaimsInsuranceMarkets / Coverages

Home, auto rate increases in 2023 “highest…seen in years.”

January 26, 2024 by David Gambrill

Canadian auto insurance rates increased 10% in 2023 compared to 2022, and similarly home insurance rates saw an increase as well — up 6.6% last year, according to the latest release of the Applied Rating Index. “The close of 2023

Heavy rainfall
News ClaimsClaims CanadaClimate ChangeInsurance

‘Atmospheric river’ could bring 300 millimetres of rain to parts of southern B.C.

January 26, 2024 The Canadian Press

Officials in B.C. are warning of heavy rainstorms for the South Coast region starting on Saturday.  Environment and Climate Change Canada says West Vancouver Island and the Coast Mountains could receive up to 300 millimetres of rain over five days,

Aerial view of homes flooded by rainfall
News CatastrophesClaimsClaims CanadaInsuranceMarkets / Coverages

Why personal property results should concern insurers

January 26, 2024 by Jason Contant

Even though overall financial results for the Canadian P&C insurance industry were only slightly worse in 2023 compared to the previous year, personal property lines should raise concerns for underwriters, according to a new report from the Property and Casualty

Food delivery driver in action
News BrokersClaimsInsuranceLegal

How accident claims hit rideshare drivers’ personal auto policies

January 26, 2024 Philip Porado

There seems to be a disconnect between drivers and their insurers about the ability to access personal auto coverage when driving for food delivery or rideshare companies like Uber, Lyft and others. While there’s no hard data to quantify a

Magnifying glass looking at interest rates
News InsuranceMarkets / Coverages

Bank of Canada holds key interest rate, signals shift toward rate cut talks

January 25, 2024 Nojoud Al Mallees – The Canadian Press

The Bank of Canada is turning its attention to when it may be able to start cutting interest rates, governor Tiff Macklem said Wednesday as he announced the central bank’s decision to hold its key rate at five per cent.

Cyber security concept
News ClaimsClaims CanadaCommercial LinesInsuranceLegislation / RegulationMarkets / CoveragesTechnology

How cyber pricing is trending for large Canadian companies

January 25, 2024 by Jason Contant

Large corporate cyber clients in Canada saw pricing decreases last year and one cyber underwriter expects the market for those risks will flatten out in 2024. “In 2023, we did see some fairly significant softening in the market; prices were

We want you! Retro woman pointing finger vector illustration
News AdjustersAnnouncementsAssociationsBrokersEmploymentInsuranceProductsProfessional Development

P&C insurance industry launches collective recruitment effort

January 25, 2024 by David Gambrill

Canada’s property and casualty insurance industry has launched a collaborative, industry-wide recruitment effort dubbed Project Reframe. Announced by the Insurance Institute of Canada (IIC) Monday, the public education campaign aims to portray the insurance industry as an engaging, dynamic, and