Canadian Underwriter

Topic Commercial Auto

Girl after shopping discovered the loss of her automobile. Angry woman talking about missing car on phone. Vehicle theft concept
News ClaimsCommercial AutoEmerging RisksInsurersLegalLoss TrendsOntarioPersonal Auto

Auto insurers pay out record amount for auto theft

June 8, 2023 by David Gambrill

Supply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in

Happy car salesman showing a car to his customer in a showroom.
News B.C.BrokersCommercialCommercial AutoInsurersLegalPersonal AutoPersonal HomeProperty

Province to launch restricted licence for incidental insurance

June 6, 2023 by David Gambrill

B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which

Two groups of employees join together after merger
News BrokersCommercialCommercial AutoMergers and AqcuisitionsOntarioPersonal AutoPersonal HomePropertyTrusted Advisor

BrokerLink buys Burlington brokerage

June 6, 2023 by Philip Porado

For the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),

A long haul truck driving in the sunset
News BrokersCommercial AutoInsurers

The art of writing long-haul trucking

June 5, 2023 by Phil Porado, managing editor

Long-haul trucking (LHT) insurance isn’t just for cargo and trailers — coverage must extend beyond the roadway. When underwriters consider long-haul trucking risks, they should examine broader business criteria such as a fleet’s age and size, vehicle class, the distance

Technology stepping up to prevent a company from risk
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How a shared-risk approach to tech can keep mutual insurers competitive

June 5, 2023 by Matthew Scott

Canada’s mutual insurance industry has been around for as long as the country itself and has innovated over that time. Now it’s driving digital transformation to enable new capabilities, improve service and keep pace with market competition. These changes come

Canada flag and Alberta flag flying on a pole against blue sky
News AlbertaBrokersCommercial AutoInsurersPersonal Auto

After Alberta election, what’s next for auto insurance?

May 30, 2023 by Alyssa DiSabatino

With the United Conservative Party’s Danielle Smith re-elected as Alberta premier, the industry is hoping for both long- and short-term solutions to the auto issue, especially since the province’s “rate pause” makes it harder for drivers to secure coverage and

Broker at a desk meeting with consumer and reviewing a policy
News BrokersCommercialCommercial AutoInsurersPersonal AutoPersonal Home

How satisfied Canadian consumers are with their insurer

May 26, 2023 by Alyssa DiSabatino

Despite the hard market slowing down service capabilities in some areas of the P&C industry, Canadian consumers seem satisfied with their insurance policies, according to a recent survey by insurance software company Duck Creek Technologies.   Almost all insured Canadians

Leader and Different Businessman (Game pieces)
News Commercial AutoInsurersManitobaPersonal Auto

MPI announces new interim CEO and president

May 23, 2023 by David Gambrill

Marnie Kacher is now interim president and CEO of Manitoba Public Insurance (MPI) while the province’s public auto insurer begins recruiting for a permanent leader. “MPI is an important Crown corporation and I want to thank Marnie Kacher for taking

Jumping over a shark to represent risk.
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Why D&O brokers are looking at risk mitigation

May 19, 2023 by Philip Porado

Amid signs the recently easing directors and officers (D&O) coverage segment may gradually become a bit tougher, brokers and insurers will be taking a closer look at companies’ risk-mitigation procedures. When writing risks, Catherine Lanctot, senior vice president and national

Cybercrime is on the rise in Canada and companies can no longer ignore cyber insurance
News BrokersClaimsCommercialCommercial AutoConstructionCyberEmerging RisksLiabilityLoss ControlLoss TrendsRisk ManagersTechnology

Don’t let clients cheap out on cyber coverage

May 10, 2023 by Philip Porado

As high-profile ransomware attacks continue to grab headlines, insurers providing directors and officers (D&O) coverage are concerned private company boards might not be managing cyber risk. “Are they allocating enough funds to cybersecurity? Are they going to have a lawsuit

Older business person with empty wallet can't afford insurance
News BrokersCommercialCommercial AutoConstructionCyberEmerging RisksInsurersLoss Control

Tips for advising commercial clients during economic downturns

May 9, 2023 by Alyssa Di Sabatino

Inflation and the looming threat of an economic downturn would seem like a one-two punch that would make commercial clients think about ways to skimp on insurance. But it isn’t necessarily so. “Insurance is not a discretionary spend for most companies,”

Mergers and acquisitions concept
News BrokersCommercialCommercial AutoMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Westland expands reach in Ontario with latest acquisition

May 5, 2023 by Jason Contant

Westland Insurance has acquired Ontario-based First Durham Insurance & Financial Ltd., one of the largest and oldest full-service independent brokerages in the Durham Region. “Effective May 1, this acquisition helps Westland expand its reach in the important Ontario market,” Westland