Canadian Underwriter

Markets / Coverages

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News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

5 client objections to buying cyber, and how to overcome them

November 14, 2022 Philip Porado

When it comes to risk, your clients can be full of excuses. That tendency to deflect is particularly acute when discussions turn to cyber coverage. “My favorite one was ‘We outsource everything,’” which implies someone else was taking on all

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News Commercial LinesInsuranceMarkets / CoveragesTechnology

How Canada’s D&O and cyber insurance markets are shifting

November 14, 2022 by David Gambrill

Softer market conditions in Canada’s D&O insurance market have arrived, with ample capacity and decreased pricing in this class of business in 2023 Q3, according to Aon. “The [Canadian D&O] market transition further accelerated in Q3, especially for public companies

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

Why Intact Financial’s CEO says insurance market cycles aren’t ‘dead’

November 11, 2022 by David Gambrill

Property and casualty insurance market cycles are by no means ‘dead’ — not because of insurers’ competitive behaviour, but because claims cost shocks often trigger the need to shore up pricing, according to Intact Financial Corporation CEO Charles Brindamour. Brindamour

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News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

How inflation will affect Intact’s auto rates going forward

November 10, 2022 by David Gambrill

Intact is predicting a firming of its auto insurance rates in Canada, where brokers and consumers can expect the company to increase auto rates by percentages in the upper single digits by the end of 2022. In its personal lines

Concept of business acquisition
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

BrokerLink starts the month with 3 new M&A deals

November 8, 2022 by Jason Contant

BrokerLink continues to expand in Ontario and Alberta with the acquisition of three more brokerages in those provinces. The Intact Financial Corporation subsidiary acquired D.G. Smith Insurance Brokers and Teck Insurance Brokers Limited (both Ontario-based) and Robinson Insurance Centre of

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News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Why new risks plague the hospitality sector post COVID-19

November 8, 2022 Alyssa Di Sabatino

People can eat in restaurants across Canada without wearing a mask or providing proof of vaccination, a sign the risks initially associated with the spread of COVID-19 have lessened. But, with public health restrictions largely lifted, restaurant and bar owners

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News AnnouncementsBrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Aspiring brokerage owners share the biggest obstacles for ownership

November 8, 2022 by Alyssa DiSabatino

What’s the biggest barrier to brokerage ownership for the 30% of brokers who aspire to one-day buy their own firm? Financing, according to results from a Canadian Underwriter online survey.  Of the 30% of broker respondents who want to own, exactly

News AnnouncementsBrokersClaimsCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsPodcast

CU launches new P&C industry podcast

November 8, 2022 David Gambrill

Canadian Underwriter is pleased to announce today’s launch of its new podcast series, What’s on Dec? in partnership with industry veterans Pete Tessier and Curt Wyatt. Tessier and Wyatt will be well-known to those who listen to The Insurance Podcast,

Older businessman looking worried about getting fired
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

What happens to wealth advisors when P&C brokers buy them out?

November 4, 2022 Philip Porado

Succession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale.

Native reserve
News Commercial LinesInsuranceMarkets / Coverages

Insurance premium tax exemption for B.C. First Nation with no reserve

November 4, 2022 by David Gambrill

Qayqayt First Nation in B.C., which purchased a surety bond from a U.K. insurer as collateral for a bank loan to fund a legal action against the Crown for taking away its land, does not have to pay tax on

Palm trees in a hurricane
News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesReinsuranceRisk

How Cats will impact insurers’ and reinsurers’ pricing and investments

November 3, 2022 Philip Porado

Rising cleanup costs following catastrophic weather events mean P&C insurers and reinsurers may have to adjust what they cover, and how they invest, global financial markets watchdog Fitch Ratings says. As Canada braces for its third year in a row

Cargo containers and inflation concept
News InsuranceMarkets / Coverages

Addressing supply issues not substitute for rate hikes, says Bank of Canada official

November 2, 2022 The Canadian Press

OTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn’t substitute the need for higher interest rates. Rogers and Bank of Canada governor Tiff Macklem appeared before