Canadian Underwriter

Topic Emerging Risks

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Why Deloitte doesn’t anticipate a soft market ‘for the next few years’

August 15, 2022 by David Gambrill

Canada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,

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News Business InterruptionEmerging RisksLoss ControlLoss TrendsSupply ChainTrending

How China-Taiwan tensions are affecting Canada’s supply chain

August 15, 2022 by Jason Contant

Although there has been some easing in supply chain issues around the world, other disruptions are coming into play, a marine expert from Allianz Global Corporate & Specialty (AGCS) told Canadian Underwriter in an interview. One major disruption is escalating

Electric vehicle at a charging station
News Emerging RisksPersonal AutoTechnology

Unifor calls for national auto strategy, dedicated ministry to capture EV potential

August 12, 2022 by Ian Bickis - THE CANADIAN PRESS

TORONTO – Unifor is calling for a national auto strategy, and a dedicated federal government ministry to lead it, at a time of “significant and uncertain change” in the industry amid the transition to electric vehicles. The recommendations are contained

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News BrokersClaimsEmerging RisksInsurersLoss TrendsSupply Chain

Why extended hard market should be easier to explain to consumers

August 11, 2022 by David Gambrill

Consumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after

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News BrokersEmerging RisksHROperations

‘Quiet quitting.’ Are your brokers at risk?

August 9, 2022 by Jason Contant

High stress is one reason a broker might choose to leave the industry, but employers should be aware of another phenomenon affecting the broader working community today – ‘quiet quitting.’ Quiet quitting is silent withdrawal from the overbearing pressure of

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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

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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

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News AdjustersBrokersClaims ProfessionalsEmerging RisksInsurersRisk Managers

Where Canada’s P&C insurance professionals are at with COVID

August 2, 2022 by David Gambrill

When deciding whether to attend industry events in-person, just over half of Canada’s risk professionals are casting a wary eye on COVID-19, while about one in three are ready to move on, according to responses received in a Canadian Underwriter

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News ClaimsEmerging RisksInsurers

Inflation and higher interest rates may alter P&C market

August 2, 2022 by Glenn McGillivray

A one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized

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News BrokersCommercialEmerging RisksInsurersRisk Managers

Where to find recession-proof clients to help grow your business

July 28, 2022 by David Gambrill

Global recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t

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News ClaimsCommercialCyberEmerging RisksMGAs

The new cyber threat: phoning a call centre

July 28, 2022 by Jason Contant

One cyber insurance specialist is warning brokers and clients of a ransomware attack method that subverts common cybersecurity controls by tricking victims into phoning a call centre – rather than clicking a link – and instructing them to download malicious

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News Business InterruptionClaimsCyberEmerging RisksLiabilityLoss ControlLoss TrendsRisk ManagersTechnology

Can multi-factor authentication beat smarter cybercriminals?

July 26, 2022 by Jason Contant

Multi-factor authentication (MFA) is becoming a standard requirement to obtain cyber insurance. But just as your clients are improving their insurability, cybercriminals too are designing their attacks around MFA. “It’s kind of like a game of Whack-a-Mole,” said Neal Jardine,