Canadian Underwriter

Topic
Insurance


Stressed out over bills piling up
News BrokersClaimsClaims CanadaInsuranceMarkets / Coverages

Why clients are missing insurance payments — and risk policy cancellation

March 4, 2024 by Jason Contant

One Ontario brokerage has seen an increase in the number of clients missing insurance payments as well as cancellation notifications from insurers for non-payment.  For Mitch Insurance, the number of clients missing insurance payments has increased 104% since 2019. While

Canada Post Mailboxes
News InsuranceLegislation / RegulationRisk

Regulator defends use of territories for rating auto insurance

March 4, 2024 by David Gambrill

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday.

News Insurance

Paid Safeguarding Trust: Data Privacy Strategies for Your Brokerage

March 4, 2024 CAA Insurance Company

Imagine firing up your computer on a Monday morning with the usual hustle and bustle of various requests to attend to. An urgent client request for a policy change comes in but, in a rush, you decide to send this

Managing Time and scheduling conflict metaphor as a deadline stress business idea with a clock with 3D illustration elements.
News ClaimsCommercial LinesInsuranceLegal

Landmark opioid case wrestles with who defends among multiple insurers

March 1, 2024 by David Gambrill

When multiple commercial insurers are on the hook consecutively for long-tail claims spanning decades, defence costs should be allocated according to the proportion of time they were on risk, the Ontario Appeal Court ruled this week. The court’s landmark decision

A truck distributing books to Toronto Public Library following a cyberattack
News ClaimsClaims CanadaInsuranceTechnology

How the Toronto library is recovering from a cyberattack, one book at a time

March 1, 2024 Nicole Thompson – The Canadian Press

Hundreds of thousands of books have been freed from a months-long purgatory as scores of staffers race to get them out of storage and back on shelves following a cyberattack that felled the Toronto Public Library’s computer systems in October.

Roadblocks to cyber policy sales
News BrokersInsuranceTechnology

Biggest barriers to selling cyber policies

March 1, 2024 David Gambrill

Product complexity remains a huge obstacle to selling cyber insurance to neophyte business clients, brokers told Canadian Underwriter in a January online survey. A stronger emphasis on cyber education — to clients, brokers, and underwriters alike — is critical to

Students in university lecture hall
News EmploymentInsuranceProfessional DevelopmentRisk

How McGannon Foundation is approaching talent recruitment

March 1, 2024 by Jason Contant

With massive retirements on the horizon for the Canadian P&C insurance industry, one organization is taking a multi-faceted approach to address the ‘talent crisis.’  The McGannon Foundation is ‘laser-focused’ on promoting the risk management and insurance profession in Canada through

Frigid cold temperatures in Montreal
News ClaimsClaims CanadaClimate ChangeInsurance

High winds, icy conditions leave many without power in Ontario and Quebec

February 29, 2024 The Canadian Press

Extreme weather conditions were expected to continue across Canada on Thursday after a sharp cold front with high winds hit vast areas of Quebec and Ontario, knocking out power lines and leaving tens of thousands of people in the dark

Hand holding two jigsaw puzzles pieces.
News BrokersEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press

In-the-classroom learning
News AdjustersClaimsEmploymentInsuranceProfessional DevelopmentRisk

How industry professionals are tackling talent recruitment

February 28, 2024 by Jason Contant

Canada’s P&C insurance industry is looking at everything from career fast-track programs to scholarships and student involvement programs to handle talent recruitment challenges. Recruitment has long been an industry challenge. In late January, the Insurance Institute of Canada, the industry’s

Expensive car wrecked on a street
News ClaimsInsurance

Why complex cars create costly problems

February 28, 2024 Philip Porado

An acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now

Illustration of a GenAI robot sitting at a desk and typing on a laptop
News BrokersClaimsInsuranceTechnology

Meet your new underwriting assistant: GenAI

February 28, 2024 by Alyssa DiSabatino

Generative AI (GenAI) won’t replace underwriters, but you can train it to be your underwriting assistant, one AI expert shared at an industry event Tuesday.  “In North America, there are quite a few insurers that are going through proof of