Canadian Underwriter

Topic
Markets / Coverages

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

Blizzard in city. Winter weather. Deep snow
News CatastrophesClaimsClimate ChangeMarkets / Coverages

What Western Canada’s deep freeze cost insurers

March 11, 2024 by David Gambrill

Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the figure Monday, which is based on industry claims totals

Discussing financial results
News ClaimsClaims CanadaEarnings / RatingsInsuranceMarkets / CoveragesTechnology

How Aviva Canada is handling personal lines’ pressures

March 8, 2024 by Jason Contant

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up

Secure document safety concept
News ClaimsClaims CanadaCommercial LinesEmploymentInsuranceLegalMarkets / CoveragesRiskTechnology

B.C. health authority warns of possible privacy breach after police recover documents

March 8, 2024 The Canadian Press

An RCMP investigation has revealed a possible privacy breach for thousands of employees who worked or work at a health authority in British Columbia’s Interior. Interior Health says police contacted them in January about finding a document during its investigation

Child waving Quebec flags
News InsuranceLegalMarkets / Coverages

Staying on the right side of Quebec’s language law, Bill 96

March 7, 2024 David Gambrill

Canada’s property and casualty insurance industry is advised to establish a policy and train employees to comply with Bill 96, Quebec’s French language law, which calls for all policy contracts with clients in the province to be done in French

Edmonton City Hall
News ClaimsClaims CanadaCommercial LinesInsuranceLegalMarkets / CoveragesRisk

Edmonton City Hall attack supports terror charges: RCMP 

March 7, 2024 The Canadian Press

Mounties say they believe an attack on Edmonton City Hall in January was politically motivated, meaning it reaches the legal threshold for terrorism charges.  Supt. Glenn Sells of the RCMP’s national security team said Tuesday that officers had seized an

Aviva Canada's 2023 financial results
News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

How Aviva Canada fared in 2023

March 7, 2024 by Jason Contant

Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft.  The undiscounted ratio for 2023 was up

A businessman, under supervision, looks up at a large magnifying glass that is being held by large hand above him.
News AssociationsBrokersCommercial LinesInsuranceLegislation / RegulationMarkets / CoveragesMGAsRisk

Industry responds to FSRA’s plan for insurer MGA supervision

March 7, 2024 by Alyssa DiSabatino

Potential risks stemming from P&C insurers’ managing general agent (MGA) outsourcing practices have caught the eye of Ontario’s insurance regulator, and it’s looking for feedback from stakeholders on a supervision plan.   Insurers and MGAs alike have begun to weigh

Concept of home insurance price increases
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

How home insurance premiums are trending

March 6, 2024 by Jason Contant

Canadian home insurance policyholders should brace for price increases this year following a nearly 8% year-over-year increase since the beginning of the year, according to internal data from rate comparison site My Choice Financial. Canada’s home insurance landscape is poised for

Illustration of a cashless, embedded transaction between a consumers and a businessman. Coins are transferring between the phones the hold in their hands
News BrokersCommercial LinesInsuranceMarkets / CoveragesProductsTechnology

Making embedded insurance more customer-centric

March 6, 2024 by Alyssa DiSabatino

No two insurance policies are the same, and that extends to the way carriers deliver their embedded insurance models, one expert told the Insurance Canada Technology Forum.  But before capitalizing on this latest digital sales opportunity, insurers must guarantee their

Car insurance application
News BrokersInsuranceMarkets / CoveragesTechnology

FSRA’s plans for auto coverage regulation

March 5, 2024 Philip Porado

Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA

Quebecers will soon be able to opt for an 'X' gender marker.
News ClaimsClaims CanadaInsuranceLegislation / RegulationMarkets / Coverages

Quebec to offer ‘X’ gender option for health cards, driver’s licences

March 5, 2024 Morgan Lowrie – The Canadian Press

Quebecers who do not identify as male or female will soon be able to opt for an ‘X’ gender marker on their health cards and driver’s licences. Both Quebec’s automobile insurance board and its public health insurance board confirmed Monday