Topic Construction
Does an immuno-compromised adjuster have to return to field work?
November 23, 2022 by The CIP Society, Insurance Institute of CanadaFor almost three years, there’s been confusion around COVID-19 protocols. It’s made it hard for people to get on with their daily lives. An example of how these stresses burden our industry is illustrated in a dilemma faced by a…
How hurricane losses will impact pricing and capacity
November 21, 2022 by Philip PoradoWatch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”…
Covering larger risks? Why subscriptions may be the way of the future
November 18, 2022 by Philip PoradoAs claims from Cat events and other external risks get larger, the simplest solution to cobbling together coverage might be a subscription approach that spreads risk and reduces individual insurers’ losses. “Subscribing the risk is better for the industry,” George…
Has Canada’s P&C hard market finally stabilized?
November 14, 2022 by Jason ContantCanada’s P&C insurance market remains vibrant but unpredictable, although there are signs of stabilization, a Gallagher executive said during an industry webinar Monday. A variety of push-and-pull factors related to underwriting profits, reinsurance rates, interest rates and claims inflation, labour…
Three options for selling your brokerage
November 11, 2022 by Philip PoradoA consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One…
P&C insurers call for a real estate climate risk score
October 26, 2022 by David GambrillCanadian P&C insurers are banding with Canada Mortgage and Housing Corporation (CMHC) to push for the disclosure of a real estate “climate score,” indicating the likelihood of a building or property being damaged during a natural catastrophe. Insurance Bureau of…
What do downtime policies cover for truck owners?
October 17, 2022 by Kevin Thomas and Tony MilitelloBusinesses operating trucks can see their livelihoods impacted by unforeseen incidents like mechanical failures, accidents, fires or vehicle thefts. For properly insured businesses, these incidents may result in downtime claims. And those claims often require careful consideration of limitations — because…
Why benefits, retirement and wealth planning are now P&C profit centres
October 14, 2022 by Philip PoradoRecent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of…
Westland partners with American association for equipment, event rental coverage
October 6, 2022 by Jason ContantWestland Insurance Group and the American Rental Association (ARA) have announced an exclusive partnership to deliver insurance solutions to ARA members across Canada. ARA is an international trade association for owners of equipment and event rental operations, as well as…
How do truck owners calculate downtime claims?
October 5, 2022 by Kevin Thomas and Tony MilitelloWhen a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due…
How Hurricane Ian will strain insurers’ capacity
October 3, 2022 by Philip PoradoHurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive…
How reinsurers view the rise of MGAs: a flash in the pan, or sustainable?
October 3, 2022 by David GambrillGlobal reinsurers are looking at the current rise of managing general agencies (MGAs) with a critical eye, questioning whether the phenomenon will be long-lasting, or simply a fad rooted in a hard-market demand for capacity. “At the risk of sounding…