Topic
Markets / Coverages
What commercial brokers are saying about the worrisome market turn
February 4, 2019 by David GambrillWhether the industry faces a hard market or simply a “market correction,” commercial lines premiums are definitely on the rise, Canadian commercial brokers reported in an online poll by Canadian Underwriter. And they are starting to get concerned about it.…
Fate of this province’s auto reform now in the hands of politicians
February 1, 2019 by David GambrillNewfoundland’s auto insurance regulator, the Public Utilities Board (PUB), has tabled a thorough, 186-page report on what ails the province’s auto insurance system – with no recommendations to fix it. The chair of the PUB told the hearings held on…
One way of devaluing cyber attacks
February 1, 2019 by Jason ContantFinancial institutions looking to verify online users should use “security layers” to help devalue attacks to extract data from legitimate consumers, a Vancouver-based security company recommends. For insurers and banks, security layers with behavioural analytics and passive biometrics can allow…
Signs of progress on national flood program for Canada
January 29, 2019 by Jason ContantCanada is making good progress on a national flood program, pending a final decision by federal, provincial and territorial (FPT) ministers responsible for emergency management. “What they are looking at is one national insurance solution to improve outcomes for high-risk…
Private flood insurance cited in new emergency management plan
January 28, 2019 by Jason ContantFederal, provincial and territorial (FPT) governments could “engage the private sector to develop an affordable private flood insurance model for the entire population, including clear incentives for mitigation of flood risks,” says a newly released emergency management strategy. Ministers have…
How many Ontario motorists got placed in the residual market
January 28, 2019 by Greg MeckbachThe number of Ontario auto policies in the residual market has increased by nearly a third in little more than a year, figures released to Canadian Underwriter show. Since the fall of 2017, there has been “some uptick” in the…
Quebec’s cannabis agency cuts back expansion plans amid shortages
January 24, 2019 Julien Arsenault - THE CANADIAN PRESSMONTREAL – Quebec’s cannabis agency generated about $40 million of sales in its first three months of operation, but supply shortages are forcing the public retailer to reduce its expansion plans. The province expects to have 40 points of sale…
Why the industry needs to focus on “accidental” disruptors
January 22, 2019 by Jason ContantThe insurance industry is used to looking for “intentional” disruptors, but it really needs to focus on “accidental” disruptors, says a P&C insurance consultant. “We all can see the real disruptors out there, the ones that are finding the ways…
How many municipalities will want to host cannabis stores?
January 22, 2019 Allison Jones - THE CANADIAN PRESSTORONTO – More than half of Ontario’s eligible municipalities have opted in as willing hosts to cannabis stores as the first locations are set to open in a little over two months. Municipalities have until 11:59 p.m. Tuesday to tell…
Hard market? Not so fast.
January 16, 2019 by Jason ContantThe Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning…
All provinces saw rate increases in Q4 2018: Applied
January 10, 2019 by Jason ContantEvidence of a hard market in personal lines in Canada was apparent in Applied Systems’ latest quarterly Applied Rating Index, released Tuesday. The Q4 2018 index found that average premiums for personal auto and personal property lines increased by more…
Beginner’s guide to insuring pot
January 9, 2019 by Jason ContantAfter nearly three months of recreational marijuana being legal in Canada, insurers are still trying to wrap their heads around a sector with no track record and lots of uncertainty. For specialist insurer CFC Underwriting, there is still some caution…