Canadian Underwriter

Topic Emerging Risks

Air conditioning unit in the backyard of a home
News Emerging RisksEnvironmental

Coalition on climate adaptation says Canada needs hard targets on disaster resilience

September 13, 2022 by Mia Rabson - THE CANADIAN PRESS

OTTAWA – A broad coalition on climate adaptation and disaster resilience says air conditioning should become a human right on par with winter heating – one of a series of hard targets it says Canada needs to meet in the

Businessman Stop Domino Effect. Risk Management and Insurance Concept
News CatastrophesEmerging RisksEnvironmentalInsurersRisk Managers

Why your business should use integrated models of risk

September 13, 2022 by Alyssa DiSabatino

In the midst of geopolitical volatility, a changing climate, inflationary pressures, emerging energy products and more, the best thing risk committees can do is build integrated models of risk, says Janice Gross Stein, founding director of the University of Toronto’s

Aerial view of a container ship passing beneath a suspension bridge. Semi truck with pink cargo container crosses above.
News Business InterruptionCommercialConstructionEmerging RisksInsurersRisk ManagersTrending

How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial

Advanced modern office building using wind turbines to make it's own power
News BrokersCommercialConstructionEmerging RisksInsurers

How advanced materials change insurance needs for new building projects

September 7, 2022 by Philip Porado

Even before the COVID-19 pandemic, delays plagued commercial and residential construction in Canada. What’s changed since March 2020 is a rise in contributing factors causing these delays, noted Steve Schmelzle, practice leader of construction and contracting at Intact Insurance Specialty

Close up of a firefighter holding and spraying firefighting foam out of an extinguisher
News B.C.ClaimsEmerging RisksEnvironmentalInsurersOntario

How insurers can trim their environmental remediation costs

September 6, 2022 by Alyssa DiSabatino

Insurers can trim their environmental remediation costs by shopping around for more than one site estimate, recommends Lori Festarini, environmental director at Charles Taylor. That may involve getting technical support or peer-reviewed cost estimates, she elaborates. “One way of managing

Concept of drought and flooding
News CatastrophesClaimsEmerging RisksEnvironmental

How much severe weather will cost the Canadian economy by 2050

August 29, 2022 by Jason Contant

Floods, storms and droughts could result in a total loss of CAD$139 billion to Canada’s gross domestic product (GDP) between now and 2050, new research found. Total direct losses from 2022 to 2050 are expected to reach $88 billion in

Tanker carrying liquified natural gas from Canada
News AlbertaB.C.CommercialEmerging RisksEnvironmentalInsurersNewfoundland & LabradorNova Scotia

Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?

August 26, 2022 by Philip Porado

Canadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need

High tech car thief using an tablet to access a car door lock
News ClaimsEmerging RisksInsurersLoss ControlOntarioPersonal AutoSaskatchewan

How to bust a car theft ring – a look inside project MYRA

August 24, 2022 by Philip Porado

In late July, charges were announced in a nearly two-year, multi-jurisdictional investigation nicknamed Project MYRA that targeted rings of organized car thieves. The thieves altered vehicle identification numbers (VINs), and then re-registered and sold the cars privately to unsuspecting customers.

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News BrokersClaims ProfessionalsClaims TechnologyCyberEmerging RisksHRInsurersManagementRisk ManagersTechnologyTrusted Advisor

What insurers are doing to improve recruiting

August 23, 2022 by Philip Porado

It’s not your imagination, COVID-19 really did throw a wrench into the insurance industry’s ability to hire and retain talent, says a new Deloitte report on the state of Canada’s P&C industry. It found industry demand for people with the

Smoke and fire burns through a dense evergreen forest
News AlbertaB.C.Emerging RisksEnvironmentalInsurersNWTSaskatchewan

Why B.C’s heat dome puts the industry on alert for wildfires

August 18, 2022 by Alyssa DiSabatino

A heat wave building across western Canada and the Prairies could worsen wildfires, which have already burned more hectares this year over last despite fewer fires to date, one industry expert observes. This week, Alberta, British Columbia and Saskatchewan will

A person wearing goggles and controlling a drone in the sky
News Business InterruptionClaimsCommercialEmerging RisksInsurersLoss ControlTechnology

How tech is helping insurers mitigate equipment breakdown losses

August 17, 2022 by Alyssa DiSabatino

The use of drones has accelerated some loss control operations in equipment breakdown insurance, but there are pros and cons to using these technology advancements says Doug Laurin, Director, National Energy & Equipment Breakdown at Intact. A benefit is that

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