Canadian Underwriter

Topic Commercial Auto

Big rig trucks parked in a fleet facility
News BrokersCommercialCommercial Auto

Why rig-handling analytics are now key for brokers insuring trucking firms

September 14, 2022 by Jason Contant

Supply chain challenges, shrinking capacity, electrification of vehicles and better data management are among the pressures facing transportation clients, said Canada’s largest insurer. “You can’t be a specialist in transportation in the insurance field if you don’t really understand the

Is Canada going into recession?
News BrokersCatastrophesClaimsCommercialCommercial AutoConstructionInsurersLoss ControlPersonal AutoPersonal HomeProperty

Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 by David Gambrill

If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those

Recall painted in yellow on a roadway to represent an auto recall
News ClaimsCommercial AutoInsurersLiabilityLoss ControlPersonal AutoPersonal HomePropertyTrusted Advisor

Fire-risk recall may give brokers opportunity to contact auto clients

August 25, 2022 by Philip Porado

A recall of two late-model SUV models by Hyundai Motor America and Kia America was amplified by a consumer alert from the U.S. National Highway Traffic Safety Administration (NHTSA) in Washington. The issue involves a tow hitch, sold as a

A blue car bumper is smashed
News BrokersClaimsCommercial AutoInsurersPersonal Auto

Do new cars reduce fatality for women in accidents?

August 19, 2022 by Alyssa DiSabatino

Women are safer driving newer cars, a new report by the U.S. National Highway Traffic Safety Administration suggests. Female fatality risk compared to male fatality risk is significantly reduced in newer vehicles, starting with model year 2000, the report finds.

High cost of housing repairs are fueling rising insurance claims costs
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Deloitte report: How microeconomic factors will impact claims costs

August 17, 2022 by Philip Porado

Yes, overall inflation is high. One trip to the grocery store demonstrates that faster than a macroeconomics refresher lecture. So will a glance at Canada’s June 2022 Consumer Price Index, which jumped 8.1% over the prior year to mark its

Man at gas pump can't bear to look at the price he'll pay to refuel.
News Business InterruptionClaimsCommercialCommercial AutoConstructionInsurersPersonal AutoPersonal HomeProperty

As inflation and supply chain concerns ease, will insurers adjust pricing?  

August 16, 2022 by Philip Porado

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor,

Piggy bank textured with Canadian flag isolated on white background.
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

Price Tag Icon
News Commercial AutoInsurersPersonal Auto

OSFI’s capital guidelines include new 2.5% charge for risk-sharing pools

August 9, 2022 by David Gambrill

Canada’s federal solvency regulator has released its final capital guidelines for the P&C insurance sector, and one new wrinkle includes a fresh approach to handle the provincial risk-sharing pools administered by Facility Association — a new 2.5% capital charge. The

Dangerous staircase at a business to represent insurer risk
News BrokersClaimsCommercialCommercial AutoConstructionCyberEmerging RisksInsurersLoss ControlLoss TrendsPersonal AutoPersonal HomeProperty

Inflation creates opportunities for brokers to revisit risks with clients

August 8, 2022 by Philip Porado

Recent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada

Aerial shot of four rows of cars of various colours lined up in darkly lit parking lot
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Are car rental shortages affecting loss of use endorsements?

August 5, 2022 by Alyssa DiSabatino

The car rental shortage isn’t only impeding on Canadians’ travel plans—it could also affect policyholders’ loss of use endorsements. Luckily, there are alternative options for insurers to reimburse customers on their loss of use policies, says one of Canada’s largest

Burned out buildings in Lytton, B.C.
News AdjustersAlbertaB.C.ClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalInsurersLoss ControlLoss TrendsOntarioPersonal AutoPersonal HomeProperty

2021 Cat frequency ties 2008 for second place

August 3, 2022 by Glenn McGillivray

Severe weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,

Silhouette of young businessman pushing large stone uphill
News CommercialCommercial AutoInsurers

Why pressure could mount for large commercial insurers

August 3, 2022 by Alyssa DiSabatino

A more assertive regulatory landscape may prove concerning for large commercial insurers (LCI) in the near future, especially those with multinational clients, a survey from KPMG suggested. Evolving client and broker expectations, economic uncertainty, technological evolution and environmental, social and