Canadian Underwriter

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Markets / Coverages

News Commercial LinesInsuranceMarkets / CoveragesRiskTechnology

Underwriting long term care: Transforming liability into opportunity

December 4, 2020 by David Gambrill

With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in

News InsuranceMarkets / Coverages

What Ontario’s auto dealer overseer says about GAP insurance

November 26, 2020 by Greg Meckbach

Guarantee asset protection, or GAP insurance, can address the risk of a consumer having negative equity as a result of borrowing money to buy a car, suggests the head of the organization that regulates Ontario’s motor vehicle dealers. GAP is

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

How Intact will decide what becomes of RSA Canada’s brands

November 18, 2020 by Greg Meckbach

If Intact Financial Corp. takes over RSA Canada, the combined firm will go to market with the “strongest” brands, meaning it remains to be seen what happens in Canada to brands such as RSA, Unifund, and Johnson, Intact’s CEO suggested

News ClaimsClaims CanadaInsuranceLegislation / RegulationMarkets / CoveragesRisk

Intact’s message to politicians wanting more commercial insurance regulation

November 5, 2020 by Greg Meckbach

Imposing more regulation on commercial carriers is not going to help make coverage available for clients who are having a hard time finding insurance, Intact CEO Charles Brindamour suggests. “I don’t think that scaring insurers is the way to bring

News AssociationsCatastrophesClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRisk

IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the

News AssociationsBrokersLegislation / RegulationMarkets / Coverages

Intact’s take on regulating commercial ‘middle players’

October 26, 2020 by Greg Meckbach

Government and the industry should take a close look at the structure and regulation of “middle players” in the commercial property and casualty insurance market, Ontario brokers heard last week at their annual convention. “We know there are some things

News AdjustersBrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Industry execs to discuss how to navigate the condo insurance market

October 23, 2020 by David Gambrill

Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,

News AppointmentsInsuranceMarkets / Coverages

How solvency risk has changed since the days of the eight-track tape

October 23, 2020 by Greg Meckbach

When Bob Tisdale started his career about 40 years ago, insurers were more likely to get into financial trouble. “When I first started in this industry in the early days, I was doing commercial underwriting and there were a lot

News BrokersClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRiskTechnology

How COVID-19 has changed cyber underwriting

October 19, 2020 by Greg Meckbach

With loss ratios in the Canadian cyber insurance market skyrocketing, purchasing cyber without having to answer a whole bunch of questions may become a thing of the past. In the recent past, if a client was not very large, or

News CatastrophesClaims CanadaClimate ChangeInsuranceLegislation / RegulationMarkets / Coverages

Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re

October 16, 2020 by Greg Meckbach

There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national

News InsuranceLegislation / RegulationMarkets / Coverages

Why Uber Canada dropped Intact as its insurance provider

September 16, 2020 by Greg Meckbach

Ride sharing firm Uber Canada chose Economical as its insurance provider because Uber would not agree to Intact’s pricing, a senior Intact executive said Tuesday. “We had a very good relationship, we just couldn’t agree on the price,” Intact CFO

News ClaimsClaims CanadaEarnings / RatingsInsuranceLegislation / RegulationMarkets / Coverages

How bad Canada’s auto loss ratios are getting

September 11, 2020 by Greg Meckbach

The Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in