Canada’s solvency regulator is seeking comment on its proposed approach for regulating P&C insurers’ cryptocurrency risk exposure. In a proposed advisory to take effect in 2023 Q2, the Office of the Superintendent of Financial Institutions (OSFI) defines and categorizes two…
Continued demand among Canadian businesses for commercial bonds prompted AXA XL to appoint Cedric Franklin as vice president and regional director for Canada, the company said. “Commercial bonds are in high demand from companies seeking alternative financial solutions at a…
A heat wave building across western Canada and the Prairies could worsen wildfires, which have already burned more hectares this year over last despite fewer fires to date, one industry expert observes. This week, Alberta, British Columbia and Saskatchewan will…
Canada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,…
Consumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after…
Inflated materials costs, and a need for brokers and insurers to see to it that valuations for commercial structures closely track replacement costs, are frequently mentioned in conversations about risks for the building sector these days. But site safety is…
Recent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada…
Despite turmoil from the ongoing COVID-19 pandemic that affected everything from the need to work remotely, auto premium rebates and the handling of Cat claims, to the availability and price of building materials and labour, Canada’s P&C insurers still managed…
Insurance is a relationships-based industry, but Canada’s risk professionals appear conflicted about attending in-person industry events again, even after most public health restrictions have been dropped in most provinces, a Canadian Underwriter online survey suggests. On one hand, 69% out…
Global recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t…
Global brokerage Marsh is cautiously optimistic cyber’s hard market will eventually stabilize and insurers will soon be able to reward clients who have strong cyber controls with lower increases. “Market conditions are expected to remain challenging for the foreseeable future…
Men and young people aged 18-34 are more likely than women and those aged 55+ to engage in road rage behaviours, finds a recent Ratesdotca survey. Although men and women claim to engage in road rage equally (51% respectively), men…