Canadian Underwriter

Topic Emerging Risks

Gathering the data for underwriting a risk.
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Where have all the good underwriters gone?

May 12, 2022 by Gloria Cilliers

For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than

Woman looking at horizon through binoculars.
News CommercialEducationEmerging RisksInsurersLoss ControlLoss TrendsOperationsPersonal AutoPersonal HomePropertyTrendingTrusted Advisor

4 insurance industry trends to watch

May 11, 2022 by Tara Kelly

In this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in

a drone flying in a cloudy sky where the sun goes down
News Emerging RisksInsurersLoss ControlLoss Trends

Drones, phones and loss control: how inspections changed amid the pandemic

May 5, 2022 by Alyssa DiSabatino

Loss control strategies had to pivot amid the COVID-19 pandemic, and while many insurance carriers reverted to ‘Old School’ loss control inspections via the phone, some took it even further, industry experts share during a Canadian Underwriter webinar.   The

Disco ball.
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What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 by Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising

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Federal government emissions dropping but reporting incomplete, audit concludes

May 3, 2022 by Mia Rabson - THE CANADIAN PRESS

OTTAWA – Direct greenhouse gas emissions from federal departments are down almost 41 per cent in the last 17 years, hitting a target for 2025 well ahead of schedule. But in an audit of Ottawa’s “greening government” strategy, environment commissioner

Businessman buys data from a hacker
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In the crosshairs: Why insurance remains a target for cybercriminals

April 27, 2022 by Jason Contant

Cybercriminals are now specifically searching for terms like ‘insurance’ when looking for data, a partner with Norton Rose Fulbright Canada LLP said during an industry event last week. “They’re not just looking for any data. They’re actually quite smarter,” says

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Sexual harassment: Grounds for dismissal, but not for denying severance

April 27, 2022 by David Gambrill

Slapping a woman on the buttocks in the workplace may be grounds for dismissal, but the threshold for terminating severance as a result of sexual harassment requires ‘wilful misconduct,’ the Ontario Court of Appeal has ruled. In essence, if the

Documents about fraud risk management
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Fraud risk management at B.C.’s $16 billion Site C dam project can improve: auditor

April 27, 2022 by Jason Contant

VICTORIA – British Columbia’s auditor general says Crown-owned BC Hydro can improve its management of potential fraud risks at the $16 billion Site C dam project. Michael Pickup says an audit found the Crown corporation has some elements of fraud

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Partnership approach needed in current cyber risk landscape

April 25, 2022 by Alyssa DiSabatino

As the cyber landscape and ransom attacks evolve, the onus is on insureds to protect themselves just as much as it is on insurers to provide coverage, says a webinar panellist.  “The archaic method of underwriting risk has shifted dramatically

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News CommercialCommercial AutoEmerging RisksInsurersLoss TrendsMGAsOperationsPersonal AutoPersonal Home

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming

Bank of Canada governor Tiff Macklem
News Emerging RisksInsurersLoss ControlTrending

Bank of Canada governor says he won’t ‘rule anything out’ on rates

April 22, 2022 by Adena Ali - THE CANADIAN PRESS

TORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate

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News ClaimsClaims ProfessionalsCyberEmerging RisksInsurersLoss ControlLoss TrendsMGAsRisk ManagersTechnology

Why multi-factor authentication isn’t the cure-all for your client’s cyber woes

April 21, 2022 by Jason Contant

Staying one step ahead of cybercriminals seems to be a never-ending battle for insurers and insureds, cyber experts said during an industry event Wednesday. “The problem is, as we increase our cyber hygiene and become better insureds, the criminals adapt