Canadian Underwriter

Topic Supply Chain

man wearing a white hardhat and yellow safety vest is onlooking a large blue shipping container on a truck
News BrokersClaimsCommercialCommercial AutoInsurersLoss ControlLoss TrendsRisk ManagersSupply Chain

How much cargo theft rose in 2022

January 16, 2023 by Alyssa DiSabatino

Cargo theft across Canada and the U.S. rose by 15% in 2022 from the previous year, equal to 1778 recorded theft incidents, a cargo theft recording firm reports. And cargo insurers should be aware of an emerging threat: fictitious cargo

Appliances ready for purchase
News AdjustersClaimsClaims ProfessionalsClaims TechnologyInsurersLoss ControlPersonal AutoPersonal HomePropertySupply Chain

How switching appliances can shorten claims cycles

December 15, 2022 by Philip Porado

Supply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys

Adjuster assessing a damaged property on site
News AdjustersClaimsClaims ProfessionalsInsurersLoss ControlPersonal AutoPersonal HomeSupply Chain

Why claims adjusters face a labour force double whammy

December 14, 2022 by Philip Porado

Solving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the

Cleaning up in Charlottetown after Fiona
News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEnvironmentalP.E.I.Personal HomeSupply Chain

P.E.I. utility Maritime Electric estimates cost of Hurricane Fiona

December 13, 2022 by The Canadian Press

CHARLOTTETOWN – Prince Edward Island’s electric utility says it will cost about $35 million to repair damage to the company’s distribution system caused by post-tropical storm Fiona. A spokesperson for Maritime Electric said that estimate is based on invoices received

Storm damaged house
News AdjustersClaimsClaims Canada ArchiveClaims ProfessionalsClaims TechnologyCommercial AutoConstructionEmerging RisksEnvironmentalInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomePropertyQuebecRisk ManagersSupply ChainTrusted Advisor

What makes the current claims environment so challenging?

December 2, 2022 by Philip Porado

A convergence of global factors will cause above-average levels of claims inflation for the foreseeable future. Claims professionals who spoke with Canadian Underwriter said multiple market-dependent factors – including prolonged COVID-19 lockdowns in China, political instability, labour and materials shortages,

Concept of inflation and economics
News ClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal AutoSupply Chain

How claims inflation is affecting Definity’s auto, property lines

November 22, 2022 by Jason Contant

Claims inflation in Definity Financial Corporation’s auto and property lines appears to be stable, Definity president and CEO Rowan Saunders said during a recent virtual fireside chat with RBC Capital Markets. While inflation is at elevated levels, it’s starting to

Rollercoaster of interest rates and inflation
News Emerging RisksInsurersLoss ControlLoss TrendsOperationsSupply Chain

How OSFI expects insurers to react to market volatility

November 18, 2022 by Jason Contant

Canada’s solvency regulator is acutely focused on the current macroeconomic environment and expects insurers to practice ‘capital conservation’ due to market volatility, a senior executive said at an industry event Thursday. The Office of the Superintendent of Financial Institutions (OSFI)

A pumpjack on the prairie
News AlbertaCommercialEnvironmentalSaskatchewanSupply Chain

Methane emissions underestimated, a growing number of reports suggest

November 16, 2022 by Bob Weber - THE CANADIAN PRESS

As the federal government moves to tighten regulations on methane emissions, new assessments suggest the amount of the potent greenhouse gas escaping into the atmosphere has been significantly underestimated. A recent survey of oil and gas facilities in Canada found

Woman using a mobile phone while charging an electric car
News EnvironmentalPersonal AutoSupply Chain

Delays for new hybrid, electric cars reach years – not months – amid supply crunch

November 14, 2022 by Brett Bundale - THE CANADIAN PRESS

When Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time

A property affected by November 2021 flooding as seen on the Shackan Indian Band.
News AdjustersB.C.CatastrophesClaimsClaims ProfessionalsClaims TechnologyEnvironmentalInsurersLoss ControlSupply Chain

New claims-management service launches certificate program for insurers

November 11, 2022 by Alyssa DiSabatino

A new claims management program, which enables insurance companies to divert waste from landfills by recycling flooring and drywall during the claims and restoration process, has officially launched its certification program.   The EcoClaim certificate program will enable insurers to

Toy cars crashing next to a pile of coins
News ClaimsInsurersPersonal AutoSupply Chain

How inflation will affect Intact’s auto rates going forward

November 10, 2022 by David Gambrill

Intact is predicting a firming of its auto insurance rates in Canada, where brokers and consumers can expect the company to increase auto rates by percentages in the upper single digits by the end of 2022. In its personal lines

Car bodies on an assembly line factory
News Commercial AutoPersonal AutoSupply ChainTechnology

Auto parts producers see supply chains improving but shutdowns still weigh

November 8, 2022 by Ian Bickis - THE CANADIAN PRESS

Canadian auto parts makers say the supply picture is improving and helping boost their bottom line, but disruptions continue to weigh on operations and profits. Magna International Inc. said Friday the picture has improved significantly from last year as global