Canadian Underwriter

Topic Supply Chain

Aviva Canada's 2023 financial results
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How Aviva Canada fared in 2023

March 7, 2024 by Jason Contant

Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft.  The undiscounted ratio for 2023 was up

The Red Sea conflict is delaying ships in the Port of Halifax.
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Tremors from Red Sea conflict start to shake Canada, with dozens of ships delayed

January 15, 2024 by The Canadian Press

MONTREAL – Canadian shippers are starting to feel the strain of attacks on cargo vessels in the Red Sea, as container rates rise and boats are late to arrive.  Port data shows that two-thirds of the 43 ships slated to

Row of cars at a dealership
News Personal AutoSupply Chain

Vehicle sales posted biggest annual jump last year since 1997: DesRosiers

January 4, 2024 by The Canadian Press

TORONTO – Auto sales jumped 11.8 per cent in 2023 compared with the year before as vehicle supply continued to improve, according to DesRosiers Automotive Consultants. The report says it was the biggest year-over-year increase in sales since 1997. DesRosiers

Heavy equipment being moved as work continues on the Trans Mountain pipeline.
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Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls

December 1, 2023 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued

Trois-Rivières, Quebec
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What worries Canadian businesses about Quebec’s language law

November 22, 2023 by Jason Contant

Quebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,

Commercial real estate for lease or sale
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What’s driving challenges in commercial property?

September 19, 2023 by Jason Contant

Challenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to

Wind, sun and water energy
News CatastrophesEmerging RisksEnvironmentalSupply ChainTechnology

Canada ‘trailing partners’ on securing vital utilities and services: internal memo

September 5, 2023 by Jim Bronskill - THE CANADIAN PRESS

OTTAWA – A newly released federal memo concedes Canada is “trailing key international partners” who have updated their approaches to securing vital utilities and services from a growing array of risks. The Public Safety Canada memo says “new and rapidly

New inventory at car dealership
News Personal AutoSupply ChainTrending

Auto sales up 8% in July for ninth month of growth

August 3, 2023 by The Canadian Press

RICHMOND HILL, Ont. – DesRosiers Automotive Consultants Inc. says auto sales growth continued in July but at a slower pace than recent months. The consultancy firm says total light vehicle sales for the month were up eight per cent from

Unrecognizable male putting fuel dispenser in tank while refueling vehicle on self service gas station.
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Reserve uncertainty could sustain hard market: Swiss Re

June 26, 2023 by David Gambrill

Ongoing reserve uncertainty may reduce insurers’ risk appetite, thereby sustaining hard market conditions, according to a new report by Swiss Re. “Direct non-life insurers in advanced markets have on average released prior-year loss reserves, although the pace has been slowing

Inflation affects small business clients
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How inflation is affecting small business owners and carriers

June 16, 2023 by Jason Contant

Although inflation cooled to 4.4% in April from its high of 8.1% in June 2022, it’s still affecting small business owners and insurers, an executive at Hartford Steam Boiler told Canadian Underwriter. From a carrier perspective, claims costs are increasing

Hand flipping wooden cube block
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Bank of Canada raises key interest rate amid stubbornly high inflation

June 7, 2023 by The Canadian Press

OTTAWA – The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001.

Technician working on lithium-ion rechargeable battery
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Why claims frequency is trending for electric vehicles

May 16, 2023 by Jason Contant

Repairable claims frequency for electric vehicles (EVs) in Canada and the U.S. continues to increase slightly with each passing quarter, albeit very slowly, according to a new report from Mitchell, an Enlyte company. EV repairable claims frequency increased 2.41% in