Canadian Underwriter

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Markets / Coverages


News InsuranceMarkets / CoveragesTechnology

Why Canadians don’t want to buy insurance from Amazon, Facebook or Google

June 5, 2018 by Jason Contant

Canadians are less likely than others around the world to buy insurance products from “BigTech” companies such as Amazon, Facebook and Google. Not that other consumers from around the world are in a big rush to buy their insurance from

News BrokersInsuranceMarkets / CoveragesTechnology

Here’s a way small brokerages can afford AI

June 4, 2018 by Jason Contant

Budget may not be a big concern for larger companies looking to incorporate artificial intelligence (AI) into their operations, but is AI cost-prohibitive for small, local brokerages? “I don’t think you need a massive budget to do some of this

News Markets / Coverages

Small earthquake detected off coast of B.C.

June 4, 2018 The Canadian Press

HAIDA GWAII, B.C. – A small earthquake has been detected off of British Columbia’s coast. Earthquakes Canada says the 4.2-magnitude quake struck Saturday afternoon, 94 kilometres west of the village of Masset, B.C., in the Haida Gwaii archipelago. The agency

News InsuranceMarkets / CoveragesReinsurance

Government-backed home flood insurance coming to Canada?

June 3, 2018 by Greg Meckbach

Federal government officials are pondering a flood insurance system similar to Britain’s two-year old Flood Re, an Insurance Bureau of Canada official suggested Thursday. Federal public safety minister Ralph Goodale “asked IBC to lead a working that will deliver recommendations

Feature Markets / Coverages

Keeping pace with SME business owners

June 2, 2018 Mazdak Moini, Vice President, Commercial Lines, Aviva Canada

Some advice on how to “future-proof” the insurance needs of Canada’s very agile small and medium sized businesses.

News InsuranceMarkets / Coverages

Major Canadian retailer finds cyberattacks “more difficult to detect”

May 31, 2018 by Greg Meckbach

Cyber threats are becoming “more difficult to detect,” a major Canadian retailer suggested Tuesday. Indigo Books and Music Inc., whose holdings include the Chapters and Coles book chains, “may be required to expend significant additional resources” to protect against threats

News InsuranceMarkets / Coverages

Canadian bank breaches highlight rise of cyber threats as new exploitation strategies

May 31, 2018 Ian Bickis - THE CANADIAN PRESS

Apparent attempts to extort two major Canadian banks highlight the increasing threat and variety of cyberattacks against major companies. Attacks against BMO and CIBC-owned Simplii – that compromised the information of up to a combined 90,000 Canadians – made public

News InsuranceMarkets / Coverages

Bank of Canada keeps key interest rate target on hold at 1.25 per cent

May 30, 2018 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate target on hold Wednesday, but noted the Canadian economy was a little stronger than expected in the first quarter, raising expectations that rate hikes are coming later this year

News ClaimsInsuranceMarkets / Coverages

Devious ways your clients are trying to get better auto rates

May 30, 2018 by Greg Meckbach

Territorial ratings have prompted some Ontario motorists to lie about where they live on their applications in order to get a lower auto insurance rate, so brokers need to caution clients on the importance of telling the truth, a local

News InsuranceMarkets / Coverages

Bomb threats highlight liability risk of office towers with lax security

May 30, 2018 by Greg Meckbach

In the wake of a threatened bombing in Stratford, Ont., and a restaurant bombing near Toronto, landlords of office towers may want to review their security systems to reduce their risk of liability. In general, owners of multi-tenant buildings have

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

Ugly trend in auto claims so far this year: OSFI data

May 30, 2018 by David Gambrill

Federally regulated Canadian property and casualty insurers have paid out $535 million more in auto claims during the first quarter of 2018 than they did during the same period last year, according to financial results posted by Canada’s solvency regulator.

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How demand in Canada factored into merger of two Lloyd’s brokers

May 29, 2018 by Jason Contant

An increased demand from Canadian brokers for more “problem-solving” insurance solutions, such as specialist cyber coverage, is a factor behind the recent merger between Endeavour Insurance Services and SSL Insurance Group. Lloyd’s broker and delegated authority specialist Endeavour recently announced