Canadian Underwriter

Topic Emerging Risks

Expensive car wrecked on a street
News ClaimsEmerging RisksInsurersLoss ControlLoss TrendsPersonal Auto

Why complex cars create costly problems

February 28, 2024 by Philip Porado

An acute shortage of semiconductors is a big contributor to rising auto claims costs for auto insurers. “That’s had a significant impact in certain types of cars,” says Paul Gilbody, president of ClaimsPro Canada. “A huge amount of electronics now

Macro photo of tooth wheels with COMPLIANCE, REGULATIONS, STANDARDS, POLICIES and RULES words imprinted on metal surface
News Emerging RisksInsurersLegalLiability

FSRA’s first non-auto P&C supervision plan to include review of MGAs

February 22, 2024 by Alyssa DiSabatino

Ontario’s insurance regulator is launching a review of P&C insurers’ managing general agent (MGA) outsourcing practices as part of its first non-auto P&C supervisory plan.  “Given the risks and oversight concerns involved, insurer outsourcing to P&C MGAs is a priority

Electrical outlet on fire.
News ClaimsEmerging RisksInsurersLoss TrendsPersonal HomeProperty

Managing insurer concerns about knob-and-tube wiring

February 21, 2024 by Brian Cook, PowerCheck

Most insurers see homes with knob-and-tube wiring, aluminum wiring, and 60-amp service as high-risk, which prevents clients with those systems from easily obtaining home insurance. But are wiring types and service levels really the culprits causing fires? I’ve examined electrical

Air Canada Boeing 777 taking off from Vancouver International Airport during sunset. Date: Feb 11, 2022
News BrokersCyberEmerging RisksInsurersLiabilityLoss ControlTechnology

Air Canada chatbot error shows liability implications of AI

February 21, 2024 by Alyssa DiSabatino

Air Canada has been ordered to uphold a policy fabricated by its AI customer chatbot in a recent Civil Resolution Tribunal (CRT) dispute.   The decision is a cautionary tale for why clients need to be sure their AI chatbots

Fraser River in British Columbia
News B.C.ClaimsClaims Canada ArchiveEmerging RisksEnvironmental

How insurers can help manage flood risk in Indigenous communities

February 20, 2024 by Jason Contant

Insurers need to play a greater role in helping to manage high-risk flood areas in Indigenous communities, a tribal chief said during the CatIQ Connect conference earlier this month. “At some point, you as insurers are going to have to

Ice fishing huts in Quebec
News Emerging RisksEnvironmentalPropertyQuebec

Warm weather forces city in Quebec to cancel ice-fishing villages for first time

February 13, 2024 by The Canadian Press

SAGUENAY, QUE. – There will be no colourful ice-fishing huts dotting the frozen water near Saguenay, Que., this year after mild winter weather forced authorities to cancel the popular tradition for the first time. The municipality about 200 kilometres north

E-scooter accidents are going to cause problems for Canadian cities because of vague insurance rules and lax enforcement.
News ClaimsEmerging RisksInsurersLegalLiabilityLoss TrendsPersonal AutoPersonal HomeProperty

Lax e-scooter insurance spells trouble for Canadian municipalities

February 12, 2024 by Philip Porado

Based on what’s taking place in other jurisdictions, lawsuits over accidents involving e-scooters will likely rise in Canada – particularly in Alberta, British Columbia and Ontario, where some municipalities permit their use on public streets, park trails, or sidewalks. Municipalities

Burnt out trucks from a wildfire in Drayton Valley, Alta. in May 2023
News AlbertaCatastrophesClaimsClaims Canada ArchiveEmerging RisksEnvironmentalPersonal Home

Alberta to add firefighters for expected busy wildfire season: minister

February 9, 2024 by Bob Weber – The Canadian Press

Alberta will field more firefighters, more volunteers and more high-tech gear as it braces for what it expects will be another busy wildfire season, the province’s forestry minister said Thursday. And as the province faces a summer of possibly severe

Illustration of 12 monthly calendars through all of 2024
News CommercialEmerging RisksInsurersLoss ControlProperty

What needs to happen for a smooth 2025 reinsurance renewal season

February 7, 2024 by Alyssa DiSabatino

Momentum from this year’s favourable reinsurance renewal can continue into 2025 if outlying conditions and losses don’t exceed expectations, panellists said during Cat IQ Connect in Toronto.  Although it’s too early to make assertions about how the next 1.1 renewal

Flooded out house
News AdjustersClaimsClaims ProfessionalsEmerging RisksInsurersLoss ControlLoss Trends

Insurers bring Cat claims in-house: How independent adjusters adapt

February 7, 2024 by Jason Contant

Some major Canadian P&C insurers are bringing claims processes in-house, arguing it results in a better customer experience, cost efficiencies and consistent claims-handling. But that doesn’t mean the end is near for independent adjusters (IAs). They see a bright future

Accident between an e-scooter and a car.
News AlbertaB.C.ClaimsEmerging RisksInsurersLegalOntarioPersonal Auto

What types of injuries happen when e-scooters collide with cars?

February 6, 2024 by Philip Porado

As you might expect, roadways and especially intersections are the most common places for accidents involving e-scooters that lead to claims and lawsuits. “It’s difficult when a motor vehicle [is] following the rules of the road and, all of a

Hacker spy your data file
News Emerging RisksInsurersLegal

What the new ‘foreign interference’ guidelines mean for insurers

February 6, 2024 by David Gambrill

Managing third-party risk and conducting thorough background checks are among several regulatory guidelines for banks and insurers looking to protect themselves against ‘foreign interference,’ as outlined in the Integrity and Security Guideline released by Canada’s solvency regulator last week. The