Canadian Underwriter

Topic
Markets / Coverages


Cutting Canadian dollars to represent price cuts
News BrokersInsuranceMarkets / Coverages

Why D&O price cuts may not be justified

February 15, 2024 David Gambrill

Softer market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s

Electronic filing cabinet concept
News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesTechnology

Toronto cyberattacks show public bodies need to boost security, experts say

February 14, 2024 Maan Alhmidi – The Canadian Press

As the Toronto Public Library gradually works to restore full service following a crippling October cyberattack, experts are warning that public organizations need to find ways to bolster their ransomware defences, despite having limited resources. A few months after the

Flooded homes following torrential rainfall
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / Coverages

Are your clients adding water endorsements to home policies?

February 14, 2024 by Jason Contant

An increasing number of your clients are expressing interest in water endorsements on home insurance policies, according to data from rate aggregator Rates.ca’s home insurance quoter. The rate comparison website found 36% of all home insurance quotes on the tool

Building demolished by an earthquake, Christchurch, New Zealand
News BrokersClaimsCommercial LinesInsuranceMarkets / Coverages

The post-pandemic broker E&O trend, and how to prevent it

February 13, 2024 by Alyssa DiSabatino

Many clients’ commercial property limits aren’t being adjusted for inflation, and that’s unduly exposing brokers to errors and omissions (E&O) claims, one commercial litigation lawyer observed.  Inflationary increases are typically applied to all building values upon renewal. The problem is,

Data analytics
News Commercial LinesInsuranceMarkets / CoveragesReinsuranceRiskTechnology

Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data

Ice fishing huts in Quebec
News Climate ChangeInsuranceMarkets / Coverages

Warm weather forces city in Quebec to cancel ice-fishing villages for first time

February 13, 2024 The Canadian Press

SAGUENAY, QUE. – There will be no colourful ice-fishing huts dotting the frozen water near Saguenay, Que., this year after mild winter weather forced authorities to cancel the popular tradition for the first time. The municipality about 200 kilometres north

Business acquisition sealed with a handshake
News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Hub’s latest Ontario brokerage acquisition

February 12, 2024 by Jason Contant

Hub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater

Wildfire in Halifax
News CatastrophesClaimsInsuranceMarkets / CoveragesProductsRisk

Should the industry incentivize wildfire mitigation?

February 8, 2024 by Alyssa DiSabatino

For the insurance industry, Canada’s record-breaking wildfire season should raise the question: Can we blame people for where they live?  Amid mounting wildfire risk, consumers need incentives from their insurers to apply retrofits that can protect their house from fire

Sign prohibiting e-scooters
News ClaimsInsuranceLegalMarkets / CoveragesTechnology

Who’s on the hook if e-scooter riders hurt pedestrians?

February 2, 2024 Philip Porado

Many consumers facing sharply rising prices for automobiles, gasoline, and auto insurance are looking to save a buck by switching from four wheels to two. Electric standup scooters powered by small motors have become popular with people looking to get

Red toy car between a stack of coins and a calculator
News InsuranceMarkets / Coverages

Alberta latest rate cap is underway: but what’s next for reform?

February 2, 2024 by Alyssa DiSabatino

As Canada’s auto insurers await direction from the Alberta government on the province’s long-term reform solutions for auto insurance, industry advocates have suggested short-term options to the auto product.  The Alberta government announced last fall it would be retaining the auto

Close-up of an insurance policy
News ClaimsClaims CanadaCommercial LinesEmploymentInsuranceMarkets / CoveragesProfessional Development

KPMG buys insurance claims practice

February 2, 2024 by Jason Contant

Professional services firm KPMG in Canada has purchased an insurance claims practice that offers income replacement benefit and related calculations, as well as commercial loss claims calculations for insurance companies and their customers. The acquisition of the claims practice of

City taxi at night
News BrokersClaimsInsuranceMarkets / CoveragesRisk

How one brokerage is making good risks out of its urban taxi clients

January 31, 2024 by Alyssa DiSabatino

With its taxi clients left in the lurch from insurer market withdrawals, one regional brokerage ventured to improve taxi fleet safety. After conducting research and leveraging data, CMB Insurance Brokers developed a loss program using telematics to ensure its clients