Canadian Underwriter

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News InsuranceMarkets / Coverages

First batch of legal marijuana edibles on their way for B.C.

December 20, 2019 The Canadian Press

VICTORIA – British Columbia’s government says the first batch of legal marijuana edibles, extracts and topical will soon be available for purchase, two months after they were legalized in Canada. The province says it received its first shipments of the

News BrokersInsuranceMarkets / CoveragesTechnology

Brokers should look for these three things in a cyber insurance policy

December 16, 2019 by Jason Contant

Cyber insurance policies still tend to be confusing for brokers, but there are three areas that they should focus on, recommends Nathan Rose, senior underwriter and business development specialist with Burns & Wilcox Canada. This includes: 1) policies that have

Feature Climate ChangeMarkets / CoveragesReinsurance

Turning off the taps

December 7, 2019 Greg Meckbach, Associate Editor

Global insurers are starting to withdraw from providing insurance coverage to the oil sands, which accounts for about two-thirds of Canadian oil production. What this means for your clients in the oil and gas sector…

News InsuranceLegislation / RegulationMarkets / Coverages

Potential opportunity in mining insurance

December 5, 2019 by Greg Meckbach

Insurers and brokers looking for new opportunities should consider covering a mining firm’s legal obligation to restore a site once the operation has closed. “In the Canadian market there is probably an emerging opportunity on this front,” Ben-Schoeman Geldenhuys, a

News Commercial LinesInsuranceMarkets / Coverages

The biggest challenges facing the commercial auto space

December 3, 2019 by Jason Contant

Capacity issues, cross-border exposure, ongoing trade negotiations and liability losses are some of the biggest challenges in the commercial transportation space, a speaker said last week at Insurance Bureau of Canada (IBC)’s inaugural Commercial Insurance Symposium. “In the past four

News ClaimsInsuranceMarkets / Coverages

The ‘silent assassin’ in this liability coverage

December 2, 2019 by Jason Contant

We’ve all heard of ‘silent cyber’: potential cyber exposures contained within traditional property and liability policies that may not implicitly include or exclude cyber risks. But what about a ‘silent assassin’ in a policy? “Technology-related areas are a silent assassin

News ClaimsMarkets / CoveragesRiskTechnology

Why there needs to be a refresh of policy triggers for this E&O coverage

November 29, 2019 by Jason Contant

There needs to be a complete refresh and rethink of policy triggers for healthcare liability insurance to make sure it’s up to speed for the digital age, a specialist insurer said. With traditional insurance for medical malpractice, a type of

News ClaimsCommercial LinesInsuranceMarkets / Coverages

One positive trend in the P&C industry’s third-quarter results

November 28, 2019 by David Gambrill

Canada’s federally-regulated property and casualty insurers appear to be getting a handle on their property lines claims ratios, although auto lines are still in trouble, according to third-quarter industry results released by the country’s solvency regulator, the Office of the

News InsuranceMarkets / Coverages

Will hard market conditions persist beyond the end of next year?

November 21, 2019 by Greg Meckbach

With insurers’ returns on equity lower than normal, it’s anyone’s guess how much longer your clients are going to see price increases. “Through 2020 we will see rate increases,” said Jim Auden, Chicago-based managing director of North American Insurance at

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

This line of business has grown an estimated 20% since last year

November 11, 2019 by Jason Contant

How much has the demand for M&A transaction insurance grown in Canada? “While we do not have specific statistics, we estimate that demand has grown in the Canadian market at least in line with the broader Americas region at 20%

News InsuranceMarkets / CoveragesProducts

How parametric insurance is being used for flight delays

November 7, 2019 by Jason Contant

Canadian travel insurance provider TuGo has launched a complimentary flight delay service for travellers. The parametric insurance solution MyFlyt comes through a partnership with Ireland-based Blink, the travel insurtech that developed the product. If a flight is delayed by two

News InsuranceMarkets / Coverages

Government services affected by weekend ransomware attack

November 4, 2019 The Canadian Press

IQALUIT, Nunavut – Crucial Nunavut government services from health to justice were still impaired Monday after a weekend cyberattack locked out civil servants from access to electronic information. “We are working non-stop to resolve this issue,” said Premier Joe Savikataaq