Canadian Underwriter

Markets / Coverages

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

two dogs retrieving the same stick on the beach
News Commercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Paw-sitively busy times for Canadian pet insurers

November 2, 2022 by David Gambrill

It’s official — everyone and their dogs are announcing pet insurance mergers, acquisitions and partnerships. It started two days ago, when Fairfax Financial Holdings Ltd. completed the US$1.4-billion sale of its interests in Crum & Forster Pet Insurance Group and

Merger and acquisition business concept
News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

M&A deals boost the volume of mutual insurers

November 1, 2022 by Jason Contant

Collectivfide Insurance Group has closed the acquisition of majority stakes in two Ontario-based brokerages, its 7th and 8th deals since its formation in 2019.  “We are continuing to achieve our goal of growing and protecting mutual volume with the addition

News AnnouncementsBrokersInsuranceMarkets / Coverages

How Canada’s P&C market shifted in 2022

November 1, 2022 by Alyssa DiSabatino

Market conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market

Cyber Security Ransomware Email Phishing Encrypted Technology, Digital Information Protected Secured
News InsuranceMarkets / CoveragesRiskTechnology

Privacy commissioner recommends ransomware insurance

October 31, 2022 by David Gambrill

Ontario’s privacy commissioner recommends businesses should consider an insurance policy that will cover first-party costs of responding to a ransomware attack. “Consider obtaining a cyber insurance policy that offsets the costs associated with responding to an incident such as forensic

Businesspeople shaking hands over a signed contract
News BrokersClaimsCommercial LinesInsuranceLegalMarkets / CoveragesMergers and AqcuisitionsRisk

Selling your brokerage? Don’t forget to tell your clients

October 31, 2022 Michael Carey

Imagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the

Snarling vampire on Halloween
News Commercial LinesInsuranceMarkets / CoveragesMGAsProducts

Do your clients need vampire facial coverage this Halloween?

October 28, 2022 by Jason Contant

You may have seen Instagram influencers posting shots of their faces covered in their own blood – a macabre-looking skincare treatment known as a ‘vampire facial.’ Easily mistaken for scary Halloween make-up, a vampire or blood facial, or platelet-rich plasma

Magnet draws talent to a company
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProductsProfessional Development

How to find P&C talent by acquiring wealth planning advisories

October 27, 2022 Philip Porado

Frequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president

Window sign indicating a business is for sale
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Selling your brokerage? How to look attractive for buyers

October 26, 2022 Philip Porado

Portfolio analysis is key to buying or selling brokerages, and some portfolios are more attractive than others, Herb Cline, president of CF2K Strategic Consultants, told a session at the Insurance Brokers Association of Ontario’s recent convention. “The flavor of the

Red wine for the holidays
News Commercial LinesMarkets / Coverages

Looming recession causes concern for Canadian restaurant industry

October 25, 2022 Rosa Saba - THE CANADIAN PRESS

TORONTO – Restaurants and bars across Canada are hoping this holiday season could finally spell recovery for the debt-laden sector. But, elevated inflation and a potential recession have them worried that their new normal won’t pay the bills. James Rilett,

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News ClaimsCommercial LinesInsuranceMarkets / CoveragesTechnology

What your cyber clients are doing right (and wrong)

October 24, 2022 by Jason Contant

Cyber insurance customers are getting better at protecting their personal information and data from cyberattacks but poor cybersecurity behaviours remain prevalent, according to the results of Chubb’s Fifth Annual Report on Personal Cyber Risk. For the first time, the annual