Canadian Underwriter

Topic Commercial

Construction crane in downtown Vancouver
News CatastrophesClaimsCommercialInsurersPersonal Auto

Where Aviva Canada CEO sees commercial and auto lines heading

March 2, 2022 by Jason Contant

Pressures on commercial insurance rates will continue for the near future, but there will still be opportunities to write new business, says Jason Storah, CEO of Aviva Canada. As for auto lines, it remains to be seen how driving levels

Bowling. Lucky strike.
News AlbertaClaimsCommercialInsurersLegalProperty

Fort Mac bowling alley covered for water damage despite flood exclusion

March 1, 2022 by David Gambrill

A Fort McMurray, Alta., bowling alley is entitled to coverage for water damage sustained in the April 2020 flooding, despite its insurance policy containing a clear flood exclusion. The Alberta Court of Queen’s Bench found Intact included a coverage extension

Concept of repelling a cyberattack
News ClaimsCommercialCyberTechnology

Winners and losers in preventing cyberattacks

February 28, 2022 by Jason Contant

Canada’s financial services industry pushed back against cybercriminals last year, cutting in half the percentage of cyberattacks on the sector. The financial services industry (including insurance) has long been a top target for cybercriminals chasing high-reward payday. But that is

Professional liability insurance policy on a table.
News ClaimsCommercialInsurersLegalLiabilityOntario

Court sides with insurer in $2.5-million professional liability case

February 28, 2022 by David Gambrill

Two creditor firms seeking to access insurance policy proceeds in a $2.5-million trust fund misappropriation case against a lawyer lost their bid to interpret the $500,000 sublimit as applying to each of their claims, instead of being an aggregate policy

Inflation Meter
News BrokersClaimsCommercialConstructionEmerging RisksInsurersOperationsPersonal AutoPersonal Home

How inflation could prolong the hard market

February 25, 2022 by David Gambrill

Inflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and

Hand Showing Cannabis Leaf Against Sky With Sunlight
News CannabisClaimsCommercialLoss Trends

Why cannabis companies are seeing lower D&O rates

February 22, 2022 by Jason Contant

Pricing for cannabis-related directors and officers (D&O) insurance is trending downward, but only relative to the rest of the market, said an insurance brokerage executive. “When cannabis was first legalized in Canada, you had a handful of carriers that [offered]

Head with a bookshelf in front of black wall
News BrokersCommercialHRInsurersPersonal AutoPersonal Home

Brokers bemoan lack of seasoned underwriters

February 22, 2022 by Gloria Cilliers

A major shortage of seasoned commercial underwriting staff is impacting broker relationships and productivity, some brokerages have reported. For an industry already struggling with a country-wide talent crunch exacerbated by the pandemic, renewed M&A activity and a hard market, brokers

Pipeline installation and construction
News B.C.CommercialConstructionEnvironmentalProperty

Politicians condemn violence at Coastal GasLink construction site in northern B.C. 

February 22, 2022 by Hina Alam - THE CANADIAN PRESS

Politicians are denouncing what police have called a violent confrontation in separate attacks against officers and employees at a construction site for a natural gas pipeline being built across northern British Columbia.   Federal Public Safety Minister Marco Mendicino called the

Picture of business people joining gears
News AlbertaB.C.BrokersCommercialManagementOperations

Large brokerage makes fourth acquisition in 2022 

February 18, 2022 by Jason Contant

Navacord Corp. is expanding its reach in northern Alberta with the addition of Stone Insurance Brokers.  Based in Manning, Alta., Stone Insurance Brokers services clients across northern Alberta and British Columbia, specializing in forestry, farming, transportation and oil and gas. 

Sandra Lee, head of claims for Canada with AXA XL
News ClaimsCommercialInsurers

Global (re)insurer appoints new head of claims for Canada

February 17, 2022 by Jason Contant

Global commercial insurer and reinsurer AXA XL has appointed Sandra Lee as head of claims for Canada. Lee served as leader for the local casualty claims team. She will now have oversight for all claims activity across property and casualty,

Successful business woman leading a group and looking at the camera smiling
News BrokersCannabisCommercialInsurersLegalLiability

Lawyers on boutique D&O: Don’t just take your broker’s word for it

February 16, 2022 by David Gambrill

For boutique D&O coverages, a law firm says companies should be bringing in a lawyer to look at the contract coverage and not just rely on the opinion of the insurance broker about coverage. This is particularly true in business

Concept of improved financial results
News CommercialInsurersLoss TrendsPersonal AutoPersonal Home

How far Intact’s specialty reach has expanded

February 15, 2022 by Jason Contant

Intact Financial Corporation CEO Charles Brindamour says Canada’s largest P&C insurer has established a “truly global platform” that can now reach 70% of the global specialty solutions market with the expertise it has on board. “The thing that I like