Canadian Underwriter

Topic Supply Chain

Small business closed due to COVID-19
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Why the pandemic hit these Canadian sectors particularly hard

August 16, 2022 by Jason Contant

Hospitality was the sector hardest hit by the pandemic in Canada, but that industry was already challenged with access to capacity prior to both the pandemic and the current hard market, Deloitte said in a recent report. The impacts of

Taiwan military conducting live-fire drills
News Business InterruptionEmerging RisksLoss ControlLoss TrendsSupply ChainTrending

How China-Taiwan tensions are affecting Canada’s supply chain

August 15, 2022 by Jason Contant

Although there has been some easing in supply chain issues around the world, other disruptions are coming into play, a marine expert from Allianz Global Corporate & Specialty (AGCS) told Canadian Underwriter in an interview. One major disruption is escalating

Surprised African-American man in denim jacket looks at receipt total in sales check holding paper bag with products in mall
News BrokersClaimsEmerging RisksInsurersLoss TrendsSupply Chain

Why extended hard market should be easier to explain to consumers

August 11, 2022 by David Gambrill

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

Vehicle service maintenance handsome mens checking under car condition on lifter hoist in garage. Automotive mechanic man use tool to tighten and replace damaged or broken part. Repair service concept
News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersPersonal AutoSupply Chain

Where Aviva thinks insurers are feeling inflation’s impact most acutely

August 10, 2022 by David Gambrill

Inflation is wreaking havoc in all major lines of P&C insurance, but its effects seem to be most acute in auto insurance, particularly auto physical damage, reports Aviva Canada CEO Jason Storah. “The most acute impact we’ve seen so far

New car inventory in parking lot
News InsurersPersonal AutoSupply Chain

July auto sales in Canada down 16% from last year as shortages persist

August 5, 2022 by The Canadian Press

TORONTO – DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available vehicles. The consultancy estimates 130,480 new light vehicles sold in the month as

Man getting into a rental vehicle
News AlbertaClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebecSupply Chain

The factors driving increased car rental times in Canada

July 25, 2022 by Jason Contant

Length of rental (LOR) for collision replacement-related rentals in Canada jumped nearly six days year-over-year, driven in part by ever-changing parts availabilities and repair backlogs, said car rental agency Enterprise Rent-A-Car. The overall Canadian LOR was 16 days in 2022

HR manager holding a job interview with applicant
News BrokersCommercialHRManagementMergers and AqcuisitionsSupply Chain

Gallagher buys Canadian executive search firm

July 18, 2022 by Jason Contant

In an age of non-stop brokerage-to-brokerage M&A, Arthur J. Gallagher & Co. has taken a different approach with its latest acquisition. Rolling Meadows, Ill.-based Gallagher today announced acquisition of Toronto-based Four Corners Group Inc., an executive search firm operating throughout

A Metro truck pulls out of a food distribution centre in Ottawa.
News InsurersSupply Chain

Economists predict inflation climbed even higher in June amid ‘reopening effect’

July 18, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent

Magnifying glass looking at interest rates
News CommercialInsurersSupply ChainTrending

Economists expect Bank of Canada to hike key interest rate by 0.75%

July 12, 2022 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. In Canada, inflation hit a 39-year-high of 7.7 per cent in May

The River Canard waterway in LaSalle, Ontario
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Where home insurance premiums are trending upwards in 2022

July 8, 2022 by Jason Contant

LaSalle, Ont., has the highest home insurance premiums in the province right now, whereas Ajax, Ont., offers the least expensive home insurance premiums, according to the latest data from rate comparison site RatesDotCa. On average, home insurance premiums in Ontario

Concept of Canadian stock market exchange crisis and recession
News InsurersSupply ChainTrending

Canada headed towards ‘moderate’ recession in 2023: RBC economists

July 7, 2022 by Adena Ali - THE CANADIAN PRESS

TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising

Photo of $100 Canadian bills with a red upward arrow
News CommercialEmerging RisksLoss TrendsSupply ChainTrending

Bank of Canada surveys suggest business and consumer inflation expectations up

July 4, 2022 by Craig Wong - THE CANADIAN PRESS

OTTAWA – A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers. In its business outlook survey released Monday, the central bank said businesses’ expectations for near-term inflation have increased,