Canadian Underwriter

Topic Commercial

News CommercialInsurers

What private equity clients can expect in 2024

January 8, 2024 by Alyssa DiSabatino

Private equity deal volume is expected to rebound in 2024 after slowing last year, and that means your PE clients can expect to see their insurance rates — particularly for liability and indemnity (D&O and R&W) — decrease or flatten

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News BrokersClaimsCommercialEnvironmentalLiability

Why your clients may be exposed to more climate change claims

January 4, 2024 by David Gambrill

Your business clients may face increased exposure to climate change liability claims, based on a recent decision by the Federal Court of Appeal (FCA). “With strong language, the Federal Court of Appeal affirmed the ‘existential challenge’ posed by climate change

Close up of an industrial bricklayer installing bricks to build back on a construction site
News AlbertaB.C.BrokersCatastrophesClaims ProfessionalsCommercialCommercial AutoConstructionEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomePropertyQuebec

Should insurers help customers build back better…or not at all?

January 4, 2024 by Philip Porado

Increased 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

Connected puzzle pieces with acronym M&A
News AlbertaBrokersCommercialCommercial AutoMergers and AqcuisitionsPersonal AutoPersonal HomeProperty

McDougall’s Drayden Insurance acquires Alberta brokerage

January 3, 2024 by Jason Contant

Alberta 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

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News CatastrophesClaimsCommercialInsurersPersonal Home

What Jan. 1 renewals wrought on the industry

January 3, 2024 by Alyssa DiSabatino

January 1 reinsurance renewals are behind us, and it seems a more stable, predictable property Cat market has materialized, just as industry experts predicted.  In Canada, reinsurance renewal pricing varied broadly by buyer, based on overall performance, Gallagher Re in

Bernard McNulty
News BrokersCommercialCommercial AutoConstruction

2024 Executive Outlook |Bernard McNulty, Allianz Commercial

December 26, 2023 by Canadian Underwriter Staff

Bernard 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.

fortunetelling 2024 with a golden crystal ball in a hand, festive atmosphere for happy new year party or award ceremony or other holiday celebrations, 3d illustration
News BrokersClaimsClaims ProfessionalsCommercialCommercial AutoCyberEmerging RisksInsurersPersonal AutoPersonal HomeRisk Managers

Introducing our 2024 Executive Outlook series

December 19, 2023 by David Gambrill

In 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,

Two employees have a discussion on career possibilities
News CommercialEmerging RisksInsurersLegalLiabilityManagementOperations

The down low on D&O risk in 2024

December 18, 2023 by Alyssa DiSabatino

Clients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report.  Of particular concern is inadequate responses by company directors and officers to

Chat with AI
News CommercialCyberTechnology

4 ways ChatGPT could worsen cyber risk

December 14, 2023 by Jason Contant

Language models like ChatGPT could be used by bad actors to re-write software code and better prepare phishing emails, a cyber specialist warned recently.  The state-of-the-art language generation model is capable of understanding and generating human-like text based on a

Contractor on ladder with cell phone figuring out hail damage repair costs for customer.
News CatastrophesClaimsCommercialConstructionEmerging RisksEnvironmentalInsurersOntarioPersonal HomePropertySaskatchewan

How restoration firms are growing in Canada

December 14, 2023 by Alyssa DiSabatino

With natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements.   Intact subsidiary On Side Restoration has acquired Superior Disaster Services Ltd., in a deal that closed Dec.

News BrokersCommercialTechnology

How insurance premium financing enhances client relationships

December 13, 2023 by Jeffrey Psiuk

Canadian brokerages aren’t taking full advantage of an opportunity to arrange premium financing for their clients, particularly for commercial policies covering broad-based risks. In Canada, only 15% of brokered premiums are financed. By comparison, the U.K. rate is 20%, and

Office building for rent
News CommercialConstructionEmerging RisksInsurersLoss ControlLoss TrendsPropertyTrusted Advisor

How COVID-19’s wane could change commercial real estate coverage

December 13, 2023 by Philip Porado

Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that