Features
The Way Forward
July 14, 2020 David Gambrill, Editor in ChiefI remember the day everything changed. It was two days after the World Health Organization declared the novel coronavirus to be a global pandemic. On that Friday, Canadian Underwriter prepared for what has turned out to be a three-month stint…
Briefing Note: Territories
July 13, 2020 Canadian Underwriter StaffNunavut and the Northwest Territories are feeling the effects of insurers pulling out of both areas. “We had Aviva Elite, who wrote probably all of the mobile homes in the Northwest Territories, discontinue writing [that line],” says Mark Harris, the…
Briefing Note: Newfoundland and Labrador
July 12, 2020 Canadian Underwriter StaffCanada’s most easterly province had a tough start to 2020, says Kelly Hickman, president of South Coast Insurance in St. John’s. The province’s brokers have been working through a tough commercial market. They’re seeing “tighter underwriting restrictions, and less capacity,”…
Briefing Note: Prince Edward Island
July 11, 2020 Canadian Underwriter StaffSince the insurance industry in P.E.I. tends to mirror the insurance markets in New Brunswick and Nova Scotia, it’s no surprise that Canada’s smallest province is also experiencing a hard commercial market. “One of the biggest things is capacity,” says…
Briefing Note: Nova Scotia
July 10, 2020 Canadian Underwriter StaffNova Scotia has had a hard few months, and not just because of COVID-19, says Darren Lipsett, president of the Insurance Brokers Association of Nova Scotia. Brokers are dealing with rate hikes and the national capacity crunch as insurers try…
Briefing Note: New Brunswick
July 8, 2020 Canadian Underwriter StaffIn a nearly unprecedented situation, the province is in an economic state that reflects the rest of Canada, says Andrew McNair, CEO of the Insurance Brokers Association of New Brunswick. “The last 18 months have been challenging. But this seems…
Briefing Note: Quebec
July 7, 2020 Canadian Underwriter StaffQuebec brokers are facing a hard commercial market, says Eric Manseau, executive director of RCCAQ, an association representing brokers in Quebec. “Premium increases are a major issue for us in commercial. On average, I would say [rate increases of] between…
Briefing Note: Ontario
July 6, 2020 Canadian Underwriter StaffAuto reform has been the province’s biggest concern over the past year, says Colin Simpson, CEO of the Insurance Brokers Association of Ontario. “Inflation on physical damage has been reported to be about 6% to 7% a year,” he says.…
Briefing Note: Manitoba
July 5, 2020 Canadian Underwriter StaffResidential real estate and construction have been hit with rate increases ranging from 8% to 650% this year in Manitoba, says Colin Matchyuk, a commercial account executive at HUB International’s Winnipeg office. That’s because apartment buildings built within 150 feet…
Briefing Note: Saskatchewan
July 4, 2020 Canadian Underwriter StaffBefore the COVID-19 pandemic, Saskatchewan was projected to see a rare year of economic growth. “Our economy was sluggish heading into the crisis, but it was showing signs of shaking off some rust. Capital investment projections for 2020 were forecasting…
Briefing Note: Alberta
July 3, 2020 Canadian Underwriter StaffBefore COVID-19 hit Canada in March, George Hodgson, CEO of the Insurance Brokers Association of Alberta, says “a good chunk of habitational personal property was probably doing okay.” At least, outside of the condo market. Brokers are struggling to place…
Briefing Note: British Columbia
July 2, 2020 Canadian Underwriter StaffHeading into 2020, Chuck Byrne, executive director of the Insurance Brokers Association of British Columbia (IBABC), thought he’d be spending his time preparing local brokers for their public auto insurer’s adoption of a no-fault system in May 2021. Instead, he’s…