Topic Commercial Auto
How firms are training tomorrow’s talent
January 8, 2024 by Alyssa Di SabatinoIntermediate and senior underwriting positions are opening up across the industry. That has firms looking for ways to cultivate junior underwriters into successive roles. The issue, though, is that learning curves can be steep for new hires. Up-and-coming underwriters are…
Should insurers help customers build back better…or not at all?
January 4, 2024 by Philip PoradoIncreased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage adding things like hurricane straps or hail-resistant shingling to roof rebuilds to…
McDougall’s Drayden Insurance acquires Alberta brokerage
January 3, 2024 by Jason ContantAlberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
2024 Executive Outlook |Mathias Sommer, Zurich Canada
December 28, 2023 by Canadian Underwriter StaffMathias Sommer, COO, Zurich Canada As we look ahead to 2024, leveraging data and digitalization will be critical in meeting rapidly evolving customer expectations. Today’s consumer wants a seamless, simple, digital-first experience and solutions helping them to understand and manage their…
2024 Executive Outlook |Bernard McNulty, Allianz Commercial
December 26, 2023 by Canadian Underwriter StaffBernard McNulty, Chief Agent, Canada, Allianz Commercial Many challenges our industry faced in 2023 will continue to be headwinds in 2024. These include climate change/natural catastrophes, cybercrime and inflation. The industry’s talent shortage will also continue to be a challenge in 2024.…
2024 Executive Outlook |Anna McCrindell, Wawanesa Insurance
December 22, 2023 by Canadian Underwriter StaffAnna McCrindell, senior vice president, COO – East, Wawanesa Insurance This year challenged insurers and our broker partners. Inflation and macroeconomic pressures drove up costs, auto thefts reached new and troublesome levels, and climate change resulted in a devastating wildfire season…
2024 Executive Outlook | Ben Isotta-Riches, Aviva Canada
December 21, 2023 by Canadian Underwriter StaffBen Isotta-Riches, chief distribution officer, Aviva Canada I am cautiously optimistic about 2024. Across the country, the cost-of-living crisis, inflation and climate change continue to affect Canadians and businesses. In Ontario and Quebec, vehicle theft is adding to loss ratios in personal…
Introducing our 2024 Executive Outlook series
December 19, 2023 by David GambrillIn the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,…
MGA acquires Echelon’s surety division
December 11, 2023 by Jason ContantMontreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
Why you can expect more insurance regulation next year
December 11, 2023 by David GambrillAs the hard market proceeds apace in the Canadian P&C insurance industry, a projected economic slowdown in 2024 could invite more insurance regulation, since Canadians will find it harder to pay their insurance bills, a ratings agency warned. “While growing…
How new vehicle tech is changing the auto theft equation
December 11, 2023 by Philip PoradoThere’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to…
Addressing a shortage of qualified commercial underwriters
November 28, 2023 by Alyssa Di SabatinoNicholas Hudescu is a rarity in the insurance industry. The 23-year-old attended Wilfrid Laurier University, earning a Bachelor of Business Administration degree specializing in insurance and risk management. While there, he joined the student-run Laurier Insurance and Risk Association (LIRA)…