Canadian Underwriter

Topic
Markets / Coverages

News BrokersCommercial LinesInsuranceMarkets / Coverages

Pandemic lockdowns make the case for pay-as-you-go commercial insurance

April 14, 2021 by David Gambrill

Auto insurance has introduced pay-as-you-go options for personal clients, but in the era of business shutdowns to prevent the spread of COVID-19, it seems as though commercial lines could use a similar option as well. Brokers in a LinkedIn thread

News CatastrophesClaimsClaims CanadaInsuranceMarkets / Coverages

Pandemic will cost the global P&C industry more than $250 billion: Lloyd’s

April 7, 2021 by Greg Meckbach

The pandemic will cost the global insurance industry at least US$200 billion, Lloyd’s predicts. “We estimate that the global insurance industry will pay around US$203 billion in claims and due to a reduction in asset values as a result of

News InsuranceMarkets / CoveragesRiskTechnology

The future of carbon removal insurance: As big as oil and gas?

April 1, 2021 by David Gambrill

Carbon removal is poised to become a booming industry over the next 30 years, providing an opportunity for innovative P&C insurers to pioneer in carbon removal insurance products, Swiss Re’s chief risk officer predicts. “By 2050, the industry of carbon

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Hartford board rejects unsolicited takeover offer from Chubb

March 24, 2021 by Greg Meckbach

The Hartford Financial Services Group Inc. announced Tuesday its board of directors is not in favour of a US$23 billion takeover offer from Chubb Limited. Both Chubb and Hartford own Canadian property and casualty commercial insurers. Zurich, Switzerland-based Chubb announced

News BrokersInsuranceMarkets / Coverages

How Western Financial made its presence known in Atlantic Canada

March 1, 2021 by Greg Meckbach

Western Financial Group is taking a non-controlling interest in Saint John, N.B.-based Huestis Insurance Group. The exact terms of the deal, announced Feb. 23, were not disclosed, other than it will give the High River, Alta.-based Western Financial a “significant”

News InsuranceMarkets / Coverages

Intact CEO’s forecast for auto rate relief in 2021

February 24, 2021 by Greg Meckbach

It could be up to a year before driving habits return to normal, but don’t expect many of your clients to pay less for auto insurance. Those were a couple of key takeaways from a recent Intact earnings call. “It

News Claims CanadaInsuranceMarkets / Coverages

COVID’s impact on aviation insurance could be worse than you think

February 1, 2021 by Greg Meckbach

The drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID

News CatastrophesClaimsClaims CanadaCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

Six reasons why commercial prices will probably continue rising

January 25, 2021 by Greg Meckbach

Don’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said

News InsuranceMarkets / CoveragesRisk

Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada

January 25, 2021 by David Gambrill

Garth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered

News BrokersCommercial LinesInsuranceMarkets / Coverages

Executive Outlook 2021: Paul Martin, KRGInsure/RRJ Insurance Group

January 14, 2021 by David Gambrill

Paul Martin, President, Chief Operating Officer, KRGInsure/RRJ Insurance Group Limited Employee engagement will be one the biggest challenges we face in 2021. Managing a remote workforce for a long period of time is a skill set many of us do

News BrokersCommercial LinesMarkets / Coverages

Top 5 insurer expanding into Quebec commercial

January 13, 2021 by Greg Meckbach

Quebec brokers can now place commercial coverage with Wawanesa Mutual Insurance Company for policies starting Feb. 1. The Manitoba-based insurer announced Monday that it is offering commercial coverage in Quebec, making good on a promise made to the province’s brokers

News InsuranceMarkets / Coverages

Executive Outlook 2021: Matthew Turack, CAA Club Group

December 28, 2020 by David Gambrill

Matthew Turack, Group President, Insurance, CAA Club Group Over the course of 2020, we have seen a fundamental shift in daily habits. Many of our existing office jobs have transitioned to at-home workspaces in the short term. Having P&C products and