Canadian Underwriter

Markets / Coverages

Three Amazon boxes stacked in front of a residential door.
News BrokersInsuranceMarkets / CoveragesTechnology

Brokers are more like Amazon than they think: IBAO Convention

October 24, 2022 by Alyssa DiSabatino

Much like Amazon, P&C insurance brokers offer consumers distribution, choice and data, a broker executive observed at the Insurance Brokers Association of Ontario (IBAO) convention in Toronto last Thursday.   In the same way, brokers offer insureds three things that

man hand holding screen shot of Amazon application
News AnnouncementsBrokersInsuranceMarkets / Coverages

Amazon U.K. is selling insurance. Should Canadian brokers be worried?

October 21, 2022 by David Gambrill

Amazon in the U.K. has launched a new online store to sell home insurance, prompting Canadian insurance company and broker executives to ask: ‘Could it happen here?’ “In my view, it’s a turning point,” Intact Insurance CEO Louis Gagnon commented

gear breaking under stress.
News BrokersCommercial LinesInsuranceMarkets / CoveragesMGAsProfessional Development

Opinion: How to end subscription policy bottlenecks

October 21, 2022 Douglas Morrow

While the worst of the hard market in Canada is gradually drifting behind us and COVID-19 is taking something of a holiday, not all is rosy, especially for commercial lines business. Brokers worked tirelessly over the past several years to

Signing a contract
News AssociationsBrokersInsuranceLegalMarkets / CoveragesMGAs

How Lloyd’s broke the bottleneck for Canadian MGAs

October 21, 2022 by Jason Contant

Editor’s Note: This article has been revised to clarify the rules around continuous binding authorities emanating from Lloyd’s.   Managing general agents (MGAs) with a binding authority contract from Lloyd’s — and where the capacity under the contract is provided

ESG in the maritime transport industry
News BrokersClimate ChangeInsuranceMarkets / CoveragesMGAs

How ESG affects the entire insurance supply chain

October 20, 2022 by Jason Contant

Implementing environmental, social and governance (ESG) strategies will create a ripple effect impacting the entire insurance supply chain and billions of dollars in investments, said George Longo, president and CEO of MGA Excess Underwriting.  “The ripple effect is going to

Two snowmen in the shape of birds sitting on blue beach chairs on the sand. One is wearing a sombrero and is holding a camera. The other is wearing a straw hat.
News BrokersInsuranceMarkets / Coverages

What your snowbird clients need to know before they fly south

October 20, 2022 by Alyssa DiSabatino

Snowbirds flying south for the winter should heed that they need a policy that differs from a traditional travel policy, one expert says. They also must inform their broker that they’ll be on an extended trip, so they can update

Gold mine in Yellowknife, NWT
News Climate ChangeCommercial LinesMarkets / CoveragesRisk

Mining industry digs into alternative methods as risks rise

October 20, 2022 Ian Bickis - THE CANADIAN PRESS

In the North, some mines risk leaking acid if the permafrost melts, while across Canada heavier rainfall will add strain to tailings dams and a lack of it could throw operations. While no strangers to extreme weather, the growing risks

Guitarist playing on a tall building
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Why insurance has street performers singing the blues

October 19, 2022 by Phil

Rising costs for busker’s insurance has street performers singing the blues. To hear them tell it, sky high insurance rates cut so far into their profits that it often makes more sense to just stay home. And, depending on the

Buildings sit in the water in Rose Blanche-Harbour Le Cou
News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesInsuranceMarkets / Coverages

Fiona officially the costliest extreme weather event in Atlantic Canada

October 19, 2022 by Jason Contant

Hurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also

Reinsurance financial results
News ClaimsInsuranceMarkets / CoveragesReinsurance

How inflation is factoring into reinsurance results

October 17, 2022 by Jason Contant

The first half of 2022 saw robust premium growth and generally strong underwriting results for global reinsurers, but inflation remains a wild card, according to the latest Aon’s Reinsurance Aggregate (ARA) report series from one of the world’s largest brokerages.

Businessman doing the books at a small business
News Commercial LinesEarnings / RatingsInsuranceMarkets / Coverages

Small businesses bullish on future growth despite recession concerns: KPMG survey

October 17, 2022 by Jason Contant

TORONTO – A new KPMG survey has found Canada’s small and medium-sized businesses are banking on strong growth in the next three years, even as a possible economic downturn remains top of mind in the near term. The survey of

Buyout and related words like transaction, debt, ownership and investment
News BrokersCommercial LinesEarnings / RatingsEmploymentInsuranceMarkets / CoveragesMergers and Aqcuisitions

Why benefits, retirement and wealth planning are now P&C profit centres

October 14, 2022 Philip Porado

Recent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of