Canadian Underwriter

Topic Supply Chain

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

Art/Illustration: group of people discussing
News AdjustersBrokersClaimsClaims ProfessionalsInsurersOperationsPersonal AutoPersonal HomeSupply Chain

Communication around claims must be top priority: CEOs

October 24, 2022 by David Gambrill

Supply chain pressures and labour shortages mean Canada’s P&C industry and its suppliers need to focus on communications around claims service to maintain consumer trust and high service levels, insurance executives told a broker conference last week. Matthew Turack, group

ESG in the maritime transport industry
News BrokersEmerging RisksEnvironmentalInsurersMGAsSupply Chain

How ESG affects the entire insurance supply chain

October 20, 2022 by Jason Contant

Implementing environmental, social and governance (ESG) strategies will create a ripple effect impacting the entire insurance supply chain and billions of dollars in investments, said George Longo, president and CEO of MGA Excess Underwriting.  “The ripple effect is going to

The word 'inflation' written on a keyboard with a Canadian flag
News Supply Chain

Business expectations for inflation have eased: Bank of Canada surveys

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

OTTAWA – Most consumers and businesses think Canada will enter a recession, according to new surveys from the Bank of Canada, but businesses expect upward pressure on prices and wages to ease while consumers are still pessimistic about inflation in