Canadian Underwriter

Topic Construction

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,”

Economic uncertainty
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Aviva reveals Number 1 risk facing Canadian businesses

May 3, 2023 by Jason Contant

Economic uncertainty remains the Number 1 risk facing Canadian businesses, according to Aviva Canada’s second annual Risk Insights Report. Based on a survey of nearly 1,500 Canadian business leaders, the report found one in three businesses stated they were “very

Vice pushing on both side of businessman to represent the hard insurance market
News BrokersCommercialCommercial AutoConstructionCyberEmerging RisksInsurersMergers and AqcuisitionsPropertyTechnologyTrusted Advisor

Brokers still worry about the hard market, but what’s next?

May 1, 2023 by Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed

A leap of faith into 2023 for insurers seeking improved profits
News BrokersCatastrophesCommercialCommercial AutoConstructionPersonal AutoPersonal HomeProperty

Will Canada’s 2023 underwriting results track U.S. improvements?

April 19, 2023 by Philip Porado

Canadian insurers, like their U.S. counterparts, may see some better underwriting results this year. In the U.S., property and casualty (P&C) insurance industry underwriting results are likely to improve during 2023, in response to significant premium increases in underperforming automobile

Inflation remains a concern for Canadian insurance brokers
News BrokersClaimsCommercialConstructionPropertyTrusted Advisor

Why brokers still need to protect clients from inflation

April 18, 2023 by Alyssa Di Sabatino

Canada’s inflation rate eased to 4.3% in March, Statistics Canada reported on April 18. That’s down nearly a percentage point from February’s 5.2% and solidly below inflation’s 8.1% peak in summer 2022. And, with inflation beginning to cool, P&C insurance

Business associates arguing.
News ClaimsClaims ProfessionalsCommercialConstructionLegalLiabilityLoss Control

Why resolving claims disputes is about more than numbers

April 11, 2023 by Derek Sayers

Want to increase the likelihood of a construction project insurance claim being accepted? Take the time to validate each aspect of that claim. The upfront work will make it easier for any umpires, mediators, consultants or lawyers brought in to

Large commercial building under construction.
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Where brokers writing construction coverage may see bottlenecks

March 31, 2023 by Philip Porado

A significant rise in construction projects being submitted in Canada means lead underwriting time is critical, according to a 2023 Q1 Global Construction Rate Trend Report from WTW. “Staffing shortages and underwriting approval processes are causing delays in quote turn-around,”

Excavator working at garbage dump.
News B.C.ClaimsCommercialConstructionInsurers

Court sides with Trisura in $475K construction bond case

March 22, 2023 by David Gambrill

Trisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept

Robot assistant for a digital insurance brokerage
News BrokersCommercialCommercial AutoConstructionCyberPersonal AutoPersonal HomeTechnology

How to digitize traditional brokerages without breaking the bank

February 28, 2023 by Alyssa DiSabatino

Many brokerages adopted technology sooner than planned because of the pandemic. And now acceptance of remote work is pushing brokerages to accelerate — or in some cases, start implementing — digital strategies. It’s easy to make a case for digitizing

Happy woman client receiving a text message from her insurance broker.
News BrokersCommercial AutoConstructionCyberEditorialInsurersLegalLiabilityOperationsPersonal AutoPersonal HomePropertyTrusted Advisor

Sales Column: Clients ignoring your emails? Try texting

February 22, 2023 by Adam Mitchell

People love their smartphones. And even those who claim they don’t still spend hours using them every day. A study last year by cybersecurity company NordVPN found 66% of Canadians even use their phones while in the washroom. I’ve always

Damage following a gas leak in the Orleans area of Ottawa on Feb. 13, 2023
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Investigation underway into apparent gas explosion in Ottawa

February 15, 2023 by Cindy Tran and Mickey Djuric - THE CANADIAN PRESS

OTTAWA – Officials say the investigation is now ongoing after 12 people were injured in an apparent gas explosion that rocked an east Ottawa suburb on Monday morning, including two children and two people who were pulled out of the