Canadian Underwriter

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Markets / Coverages

News InsuranceMarkets / Coverages

Is the industry taking a consistent approach to overland flood coverage?

April 23, 2019 by Jason Contant

Are carriers taking a consistent approach to covering overland flood? The flood waters sweeping across New Brunswick and Quebec have brought the issue to the forefront. In general, overland flood was not covered in Canada until 2015; only sewer backup

News InsuranceMarkets / Coverages

Credential stuffing: Canada’s newest cyber threat

April 15, 2019 by Jason Contant

A new cyber threat called “credential stuffing” is emerging, and Canada is the third-most targeted country in the world, according to a new report. Credential stuffing is when hackers take a stolen username and password and then run it through

News InsuranceMarkets / Coverages

How will reputational harm coverage evolve?

April 8, 2019 by Jason Contant

Will reputational harm coverage grow into its own coverage or will it remain sublimited, as is often the case? There is currently a lot of variance within the market in how this coverage is offered, if at all. Some insurers

News InsuranceMarkets / CoveragesRisk

Over half of Ontario cannabis store openings delayed

April 3, 2019 Shawn Jeffords and Armina Ligaya - THE CANADIAN PRESS

Customers lined up at Ontario’s first brick-and-mortar cannabis stores on Monday, but fewer than half of the province’s government-licensed outlets were ready to open. The Progressive Conservative government had planned to have 25 private stores launch on April 1, but

News Markets / Coverages

Could Canada cut interest rates?

April 2, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking

News InsuranceMarkets / Coverages

This sector is the most targeted by cyber criminals

March 29, 2019 by Jason Contant

The healthcare industry continued to be the most targeted sector by cyber criminals in 2018, accounting for 41% of attacks, according to the Beazley 2019 Breach Briefing, released Tuesday. “Healthcare records are more valuable to attackers and sell for significantly

News ClaimsMarkets / Coverages

Auto loss ratios ‘unsustainable’ in these provinces

March 29, 2019 by Greg Meckbach

Ontario auto insurance is profitable but loss ratios are unsustainable in Alberta and two of the Maritime provinces, Canada’s Property and Casualty Insurance Compensation Corporation notes. “Importantly for insurers, Ontario’s private passenger auto insurance market remained profitable with a loss

News InsuranceMarkets / CoveragesRiskTechnology

How sports hazing and abuse affects insurers

March 26, 2019 by Jason Contant

There seems to be no shortage of hazing and abuse incidents in the news lately. Earlier this month, a Miami University student was allegedly hit “with a paddle with spikes and grooves,” forced to drink large amounts of alcohol and

News ClaimsInsuranceMarkets / Coverages

New insurance coverage for shared travel accommodations

March 21, 2019 by Jason Contant

Has your client booked travel accommodations through platforms like Airbnb, HomeAway and Trip Advisor? If so, they are now able to get insurance coverage for trip cancellations and interruptions. CAA Travel Insurance announced Wednesday it has added a new feature

News InsuranceMarkets / CoveragesMergers and AqcuisitionsMGAs

Burns & Wilcox Canada acquires specialty MGA

March 7, 2019 by Jason Contant

H.W. Kaufman Group and Burns & Wilcox Canada announced Thursday they have acquired Toronto-based TRU Transportation Risk Underwriters Ltd., a managing general agency with unique transportation expertise. TRU will become part of B&W Canada, a flagship organization of Kaufman and

News InsuranceMarkets / CoveragesRisk

What lies behind the unexpected Alberta quake

March 6, 2019 by Jason Contant

Perhaps the largest-ever earthquake to hit a section of central Alberta caused no immediate reports of damage, but knocked out power for more than 4,000 customers. Could fracking be the culprit? In this case, Alberta Energy Regulator (AER) is probing

News InsuranceMarkets / CoveragesTechnology

The insurance implications of digital healthcare

March 5, 2019 by Jason Contant

As the digital healthcare market continues to evolve, the insurance industry in Canada should consider gaps or exclusions in current policies and the need for a bespoke option. Digital healthcare will include a focus on two areas: Telemedicine – remote