Canadian Underwriter

Topic Commercial Auto

Car loaded on a tow truck for delivery
News ClaimsCommercial AutoInsurersLoss ControlOntarioPersonal Auto

Insurers, municipality clash over 87.5% increase in collision towing fees

July 14, 2022 by Jason Contant

Insurance Bureau of Canada (IBC) is expressing “serious concern” after Mississauga, Ont.’s city council approved an 87.5% increase to towing fees for consumers who need a tow to a Collision Reporting Centre (CRC). The City of Mississauga defended the increase

AI robot driving a car in a futuristic city
News CommercialCommercial AutoConstructionCyberEmerging RisksInsurersLiabilityLoss ControlLoss TrendsRisk Managers

Who owns the risks posed by artificial intelligence? 

July 13, 2022 by Alyssa DiSabatino

As artificial intelligence (AI) increasingly affects the performance of products consumers use every day, discussions about who owns the AI risk is likely to become more intricate. For companies making these products, it’s important to know the risks involved, be

Egg in a vice to illustrate high pressure on workers.
News BrokersCommercialCommercial AutoConstructionInsurersOperationsPersonal AutoPersonal HomePropertyTrusted Advisor

Hard market challenges aside, brokers not racing for the exits

July 12, 2022 by David Gambrill

Canada’s hard market in insurance remains the Number 1 concern of new and experienced brokers alike, as well as brokerages big and small, according to Canadian Underwriter‘s 2022 National Broker Survey. The gender split among respondents was most prominent, with

News ClaimsCommercial AutoInsurersLiabilityLoss ControlPersonal Auto

Distracted driving sometimes takes a back seat to work priorities, drivers say

July 11, 2022 by Canadian Underwriter Staff

Canadians object to distracted driving but a lot of them do it anyway, according to a 2022 distracted driving risk survey from Travelers Canada. A full 77% of those surveyed said distracted driving is ‘very risky and they take every

Inflation going up in Canada
News ClaimsClaims Canada ArchiveCommercialCommercial AutoConstructionPersonal AutoPersonal HomeProperty

What the latest inflation measures mean for insurers

July 7, 2022 by Philip Porado

Several inflation drivers have increased claims costs for insurers since 2020, but some are less aggressive than expected and a few have yet to register significant impacts, a June report from AON found. Insurers can expect it to cost more

Sewerage system, dirty water discharged into river.
News ClaimsCommercial AutoEnvironmentalInsurersLegalLiabilityOntario

Why Intact can’t recover $2.9 million in excess insurance payment

July 7, 2022 by David Gambrill

Intact Insurance has lost its bid to recover $2.9 million it paid above and beyond its $5-million insurance policy limit for cleaning up a 2012 chemical spill in North Bay, Ontario. Ontario’s Court of Appeal rejected Intact’s arguments that it

Prospector panning for gold in the old west.
News BrokersCommercialCommercial AutoInsurersPersonal AutoPersonal HomeTrusted Advisor

How the pandemic changed broker prospecting for new business

June 30, 2022 by David Gambrill

High workloads during the pandemic had an impact on brokers’ ability to prospect for new business, Canadian Underwriter‘s 2022 National Broker Survey found. The survey asked more than 250 brokers nationwide in February about challenges to the broker distribution channel.

A person holds the steering wheel of a car with their left hand while their right hand hovers over the horn
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Distracted driving accelerates post-pandemic

June 29, 2022 by Alyssa DiSabatino

Ninety-eight per cent of Ontario drivers report witnessing unsafe driving behaviours over the past year — a 3% increase from the year previous — and yet only 58% admit to engaging in dangerous driving behaviours themselves, a CAA South Central

Two-car auto accident
News ClaimsClaims Canada ArchiveCommercial AutoInsurersPersonal Auto

Have auto premiums, loss ratios returned to pre-pandemic levels?

June 28, 2022 by Philip Porado

At least one major Canadian insurer has seen driving patterns return to pre-pandemic levels last seen in late 2019 and early 2020. Aviva closely monitors both the amount of driving and its claims frequency, said Phil Gibson, executive vice president

Calculator and toy car on white background
News AlbertaBrokersClaimsCommercial AutoInsurersPersonal Auto

Post-Kenney, will the auto rate cap return after the next AB election?

June 27, 2022 by Jason Contant

Outgoing Alberta Premier Jason Kenney’s announcement last month that he will step down following a leadership review is raising concerns among brokers in the province about the possibility of another auto insurance rate cap. In 2017, Alberta’s NDP government under

Arrows pointing to profit and loss as if it was a road sign.
News CommercialCommercial AutoConstructionOperationsPersonal AutoPersonal Home

What’s to blame for P&C industry’s quarterly profitability decline?

June 23, 2022 by Canadian Underwriter Staff

At first glance, 2022 Q1 results for Canada’s P&C industry would support the idea that high profits aren’t sustainable. Industry-wide return on equity dipped to 11.5% in 2022 Q1, compared to 19% in 2021 Q1. But the profitability decline stemmed

Woman stressed out by increasing oil prices
News ClaimsCommercial AutoEmerging RisksInsurersLoss TrendsPersonal Auto

Will the oil shock slow auto insurers’ post-pandemic loss ratios?

June 21, 2022 by David Gambrill

Insurers have been sounding the alarm about their auto claims ratios returning to normal post-pandemic, but expect the oil shock to temper that expectation somewhat, P&C industry execs predict. The war in Ukraine and consequent embargo on Russian oil have