Canadian Underwriter

Topic Construction

Top View of Architects and Engineer Workers With Blueprints discussing at a construction site
News ClaimsConstructionInsurersLegalOntario

Trial required to assess Zurich’s right to rescind surety bonds: Appeal Court

August 25, 2022 by David Gambrill

As a matter of legal principle, Zurich can rescind performance and payments surety bonds based on fraud or misrepresentation, even if that would affect the rights of innocent third parties in a construction dispute, Ontario’s Court for Appeal has ruled.

Multi-level highway through a mountain canyon.
News ConstructionInsurersLegalLiabilityQuebec

Court orders Travelers to defend “your work” exclusion case in Quebec

August 17, 2022 by David Gambrill

Quebec’s Court of Appeal has rejected Traveler’s challenge of a Wellington-style motion that requires the insurer to defend a construction contractor in a “your work” exclusion case against Quebec’s attorney general. The appeal court also rejected Tuesday Traveler’s motion to

High cost of housing repairs are fueling rising insurance claims costs
News Business InterruptionClaimsClaims ProfessionalsClaims TechnologyCommercialCommercial AutoConstructionEmerging RisksInsurersLoss ControlLoss TrendsPersonal AutoPersonal Home

Deloitte report: How microeconomic factors will impact claims costs

August 17, 2022 by Philip Porado

Yes, overall inflation is high. One trip to the grocery store demonstrates that faster than a macroeconomics refresher lecture. So will a glance at Canada’s June 2022 Consumer Price Index, which jumped 8.1% over the prior year to mark its

Man at gas pump can't bear to look at the price he'll pay to refuel.
News Business InterruptionClaimsCommercialCommercial AutoConstructionInsurersPersonal AutoPersonal HomeProperty

As inflation and supply chain concerns ease, will insurers adjust pricing?  

August 16, 2022 by Philip Porado

Supply chain issues driving inflation since early in the COVID-19 pandemic remain a concern, although emerging signs suggest some trends impacting global goods pricing are starting to abate. “We’ve seen some easing of the supply chain challenges,” said Colette Taylor,

Small business closed due to COVID-19
News Business InterruptionClaimsCommercialConstructionInsurersLoss TrendsPropertySupply Chain

Why the pandemic hit these Canadian sectors particularly hard

August 16, 2022 by Jason Contant

Hospitality was the sector hardest hit by the pandemic in Canada, but that industry was already challenged with access to capacity prior to both the pandemic and the current hard market, Deloitte said in a recent report. The impacts of

Construction hoarding and danger sign to keep people off a building site
News Business InterruptionClaimsCommercialConstructionEmerging RisksLiabilityPropertyRisk Managers

Why the basics count in construction loss prevention

August 9, 2022 by Philip Porado

Inflated materials costs, and a need for brokers and insurers to see to it that valuations for commercial structures closely track replacement costs, are frequently mentioned in conversations about risks for the building sector these days. But site safety is

Dangerous staircase at a business to represent insurer risk
News BrokersClaimsCommercialCommercial AutoConstructionCyberEmerging RisksInsurersLoss ControlLoss TrendsPersonal AutoPersonal HomeProperty

Inflation creates opportunities for brokers to revisit risks with clients

August 8, 2022 by Philip Porado

Recent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada

Coins being squeezed by vice grip pliers
News CatastrophesClaimsCommercialConstructionCyberProperty

Will inflation reboot the P&C hard market?

August 5, 2022 by Philip Porado

Although the commercial insurance market shows signs of gradually shifting toward more stable conditions, the hard market isn’t yet in the rear-view mirror and a soft market hasn’t arrived. “I would say we are more in a transitioning market [and]

Burned out buildings in Lytton, B.C.
News AdjustersAlbertaB.C.ClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalInsurersLoss ControlLoss TrendsOntarioPersonal AutoPersonal HomeProperty

2021 Cat frequency ties 2008 for second place

August 3, 2022 by Glenn McGillivray

Severe weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,

Stack of 45-rpm hit records
News BrokersCatastrophesClaimsCommercialCommercial AutoConstructionCyberInsurersLoss ControlPersonal AutoPersonal HomeProperty

P&C industry’s 2021 results: A one-hit wonder?

July 28, 2022 by Glenn McGillivray

Last year was generally the most favourable for Canada’s insurers in a while – since 2006 as a matter of fact – with the industry’s return on equity (ROE) coming in at a solid 17.2% (against 11.2% in 2020). ROE

Business person walking through a target to illustrate specialization
News BrokersCommercialCommercial AutoConstructionCyberHRInsurersManagementMergers and AqcuisitionsOperationsPersonal AutoPersonal HomeProperty

Is specialization the best route to broker independence?

July 27, 2022 by Jason Contant

A bevy of challenges, including M&A frenzy, rapidly evolving technology, automation and directs, has spurred some independent brokerages to focus on specialization. And some are even divesting of personal lines. “From a client perspective, it’s great to have a broker

A wildfire is spreading just west of already fire-ravaged Lytton, B.C.
News B.C.CatastrophesClaimsCommercialConstructionEnvironmentalPersonal Home

What the latest wildfire near Lytton, B.C. reveals

July 22, 2022 by Jason Contant

The out-of-control wildfire burning near Lytton, B.C. shows the community and its surrounding area are at high risk of repeated fires, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). The Nohomin Creek wildfire about 1.7