Canadian Underwriter

Topic Supply Chain

Concept of inflation at the grocery store
News InsurersSupply ChainTrending

Inflation rate up slightly in April to 6.8 per cent: Statistics Canada

May 18, 2022 by The Canadian Press

OTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared

A container ship passes beneath a suspension bridge as it departs for Europe.
News BrokersCommercialInsurersSupply Chain

Could the P&C industry have anticipated current supply chain issues?

May 9, 2022 by Alyssa DiSabatino

Pandemic-related supply chain interruptions have been contributing factors to rising commercial client exposures, and this outcome could have been anticipated, say panellists in a Canadian Underwriter webinar. “When you think about firms who have offshored, whether it be processing, or

Exterior of luxury house
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Proposal to end real estate bidding wars could affect P&C insurers

April 19, 2022 by Philip Porado

Cracking down on factors contributing to home-price escalation is a major component of the Apr. 7 federal budget document. If successful, they could affect insurers’ ability to control reconstruction costs and other claims impacts for their insureds. Proposed budget actions

Architect and engineer talking on a construction site
News Business InterruptionConstructionHRInsurersLoss ControlSupply Chain

Key challenges facing your construction industry clients

April 6, 2022 by Jason Contant

An ongoing labour shortage, exacerbated by the COVID-19 pandemic, is one of the key issues facing the construction industry in general, says the head of risk control with Travelers Canada. “I think the biggest prolonged challenge that comes around, seems

The word 'inflation' on a keyboard with a Canada flag
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Businesses bracing for high inflation to stick around over next two years: survey

April 4, 2022 by Adena Ali - THE CANADIAN PRESS

The Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook

Manufacturing plant
News ClaimsCommercialSupply Chain

Manufacturers look to budget for help on supply chain problems, domestic production

April 1, 2022 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The federal Liberals are being asked to muscle space in next week’s budget to help Canada become more productive, and lay investments to lure new companies as part of a push to simplify pandemic-strained supply chains. For years,

European Union sanctions Russia.
News Business InterruptionClaimsCommercialEmerging RisksInsurersLegalOperationsSupply Chain

Ratings agency suspends commercial activities in Russia

March 30, 2022 by Philip Porado

Getting ahead of a European Union-imposed Apr. 15 sanctions deadline, a major global credit ratings agency specializing in the insurance industry has suspended all commercial activities in Russia. AM Best said it’s also withdrawn all credit ratings on reinsurance companies

Ukraine war's eastern front.
News Business InterruptionClaimsCommercialEmerging RisksLoss ControlLoss TrendsSupply Chain

How war in Ukraine may impact business loss claims

March 25, 2022 by Philip Porado

Canada’s insurers are in a bit of a holding pattern about how war in Ukraine may drive claims activity among businesses with ties to the region. Canadian Underwriter contacted numerous insurers and the consensus on any changes to claims and

Inflation concept
News Emerging RisksSupply ChainTrending

Bank of Canada says near-term inflation higher amid Ukraine war

March 25, 2022 by The Canadian Press

OTTAWA – The Russian invasion of Ukraine is adding to inflationary pressures around the world and in Canada, a senior Bank of Canada official said Friday. In a speech by webcast to a conference at the U.S. Federal Reserve Bank

Container ship in sea
News Newfoundland & LabradorSupply Chain

Container ship the size of two football fields adrift off N.L., says coast guard

March 10, 2022 by The Canadian Press

ST. JOHN’S, N.L. – The Canadian Coast Guard says a container ship the length of two football fields is adrift off the west coast of Newfoundland. The agency said in an email Wednesday the 265-metre-long MSC Kim reported engine problems

Large distribution centre with many trucks
News ClaimsCommercialInsurersLiabilityLoss ControlSupply Chain

How supply chain back-ups are contributing to cargo theft

March 9, 2022 by Jason Contant

Supply chain disruptions and back-ups due to COVID-19 and other factors (such as a shortage of drivers or trucks to deliver product) are contributing to concerns around cargo theft, a transportation industry expert says. “When you have more [cargo] that’s

Picture of a pipeline in Alberta
News B.C.CommercialSupply Chain

Poilievre promises to build more pipelines, remove oil tanker ban in northern B.C.

March 4, 2022 by The Canadian Press

REGINA – Ottawa-area MP Pierre Poilievre says he would repeal what he calls Prime Minister Justin Trudeau’s “anti-energy” laws if he becomes the next leader of the Conservatives. Pierre told a campaign stop in Regina that if he becomes party