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The unique coverages for collector cars

July 8, 2021 Canadian Underwriter

When people typically think of collector cars, they may immediately think of something like a 1970 Dodge Challenger, a Classic Corvette, and other cars of that vintage. But collector cars also include exotics — think of something from Lamborghini —

News BrokersMarkets / CoveragesMergers and Aqcuisitions

How the world’s brokers rank by revenue

July 5, 2021 by Greg Meckbach

Marsh was still the world’s biggest brokerage in 2020, even after more than 700 merger deals got done last year, A.M. Best Company Inc. reports in Top Global Insurance Brokers – 2021 Edition, released July 1. Quoting from Optis, A.M.

News InsuranceMarkets / CoveragesMGAsTechnology

MGA simplifies purchase and validation of tenant’s insurance online

June 9, 2021 by Greg Meckbach

Landlords often require their tenants to have insurance coverage as a condition of the leases, but it could be quite a paper chase to keep track of thousands of tenants and their insurance status. Vancouver-based insurtech and managing general agent

News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Are your condo clients covered for ‘special assessment’ costs?

June 2, 2021 by David Gambrill

In an age when a condo corporation’s insurance may not provide enough coverage for an insured loss, brokers can help their clients by advising condo unit owners about the merits of special assessment insurance, one lawyer suggests. “It is important

News BrokersInsuranceMarkets / CoveragesProductsTechnology

P&C industry must better engage those who are “kicking the tires” on a purchase: exec

May 18, 2021 by David Gambrill

Digital has made it easier for Canada’s property and casualty insurance industry to serve customers who wish to purchase a fairly straightforward insurance product, but more emphasis needs to be placed on converting customers who are kicking the tires on

News BrokersInsuranceMarkets / Coverages

The Number 1 challenge facing Canada’s broker channel

May 11, 2021 by David Gambrill

Out of all the challenges facing the broker channel right now, the hard market is the biggest one of them of all, according Canadian Underwriter‘s 2021 National Broker Survey. Seventy-four per cent of Canadian P&C insurance brokers who responded to

News Commercial LinesInsuranceLegislation / RegulationMarkets / Coverages

Where Canadians rank among their global peers in how much premium they pay

May 8, 2021 by David Gambrill

Canadians tend to pay higher premium for insurance than citizens in many, if not most, other developed nations, according to a recent report from the C.D. Howe Institute. Three years in the making, the report is authored by Alister Campbell,

News InsuranceMarkets / CoveragesMGAs

Where MGAs could find new capital as Lloyd’s limits capacity

May 8, 2021 by Greg Meckbach

With some commercial coverages becoming harder to place in the hard market, reinsurers are looking to distribute through managing general agents, Virtual Symposium B.C. attendees heard Thursday. “I had two meetings today with two separate reinsurers who are very interested

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