Topic
Markets / Coverages
The challenge with insuring autonomous ships
May 20, 2018 by Jason ContantThe large body of regulations known as maritime law should be addressed before or in concert with insurance considerations when it comes to autonomous vessels, British Columbia-based author Blake Desaulniers told Canadian Underwriter last week. “That large body of regulations…
What Fairfax’s CEO is saying about interest rates
May 19, 2018 by Greg MeckbachAs Canadian insurers struggle with auto claims and weather-related losses, relief may be in sight in the form of interest rate increases. “We think interest rates will go up over time because the economy of the U.S. is doing very…
The latest home insurance product for brokers to figure out
May 19, 2018 by Greg MeckbachWith equipment breakdown and other new coverages available from homeowners’ insurance carriers, brokers need to make sure their clients or prospective clients are aware of their options, a Regina-based broker warns. “There are so many new products” available in homeowner…
Province sees flurry of P&C insurance legislation
May 17, 2018 by Jason ContantQuebec is seeing several proposed legislative changes that will – or could – impact property and casualty insurance in the province, the Insurance Bureau of Canada’s (IBC) director of communications and public affairs told Canadian Underwriter Thursday. Pierre Babinsky was…
New index measures quarterly premium rate trends in Canadian personal lines
May 16, 2018 by Jason ContantApplied Systems has released its Applied Rating Index, measuring the quarterly premium rate trends being experienced by consumers, brokerages and insurers across the Canadian market. Stephane Lacasse, vice president of product management for Canada and rating products with Applied, told…
90% of drivers in this province think that insurance companies are “profitable”
May 15, 2018 by Jason ContantNine out of 10 drivers in Newfoundland and Labrador believe insurance companies operating in the province are profitable, according to a new poll commissioned by Aviva Canada. “I cannot speculate about why people seem to believe this, but I can…
Ontario police sound alarm over impending pot legalization
May 15, 2018 Nicole Thompson - THE CANADIAN PRESSTORONTO – Ontario’s chiefs of police are again sounding alarm bells about the impending legalization of recreational cannabis, saying federal funding for police operations may not go far enough to cover increased costs. At a news conference held by the…
Drivers say auto insurance in this province is “financially difficult” to afford: poll
May 14, 2018 by Jason ContantNearly two-thirds of polled drivers in Newfoundland and Labrador have said that auto insurance has become “financially difficult” to pay for, according to a new poll commissioned by Aviva Canada. “The system is broken and insurers, government and other stakeholders…
Brokers worried that Ontario auto problems will force companies to exit market
May 11, 2018 by Jason ContantBrokers in Ontario are concerned that if auto insurance in the province remains unsustainable, companies may start to leave the market. Traci Boland, chairwoman of the Insurance Brokers Association of Ontario (IBAO), spoke to Canadian Underwriter Thursday about trends in…
Consolidation of employee benefits firms among hot trends affecting P&C commercial lines
May 11, 2018 by David GambrillWhat are some of the hottest trends in Canadian P&C commercial lines right now? Insurtechs in the SME [small and medium sized enterprise] customer segment is a key driver in today’s commercial market, says Jim White, chief sales officer and executive vice president…
Economical exposed to Ontario’s auto market cycles
May 9, 2018 by Greg MeckbachExposure to Ontario’s regulated auto market is one factor leading to the “unsatisfactory” financial performance at Economical Insurance, CEO Rowan Saunders suggested to mutual policyholders attending the company’s annual general meeting, held Monday at the Bingemans Centre in Kitchener, Ont.…
Hub acquires Quebec benefits brokerage
May 9, 2018 by Jason ContantHub International has acquired the shares of a Quebec benefits brokerage, a move designed to strengthen benefits and retirement offerings throughout Canada. The Chicago-based global insurance brokerage reported on May 7 that it acquired the shares of Les Avantages Sociaux…