Canadian Underwriter

Topic Emerging Risks

News CommercialEmerging RisksLegalLiabilityLoss ControlPersonal Auto

Police, convenience store industry prepare for gas thefts as prices continue to rise

March 11, 2022 by Brittany Hobson - THE CANADIAN PRESS

Police and small retailers are preparing for an increase in “gas-and-dash” thefts as gasoline prices across Canada soar following sanctions against Russia that have put the squeeze on global oil supply. The invasion of Ukraine just over two weeks ago

Digital hand grenade
News CyberEmerging RisksLiability

Insurers checking their war exclusions for cyberattacks

March 10, 2022 by Philip Porado

While cyberattacks have increased since Russia invaded Ukraine and numerous countries responded with tighter sanctions, most of those attacks have been more basic distributed denial-of service attacks on both sides of the conflict, said a DBRS Morningstar commentary on cyber

Close-up Of Wooden Blocks With Risk Word In Front Of Businessperson's Hand Holding Magnifying Glass
News Emerging Risks

Aviva reveals Top 5 risks facing Canadian businesses

March 10, 2022 by Alyssa DiSabatino

Public health events proved to be the top threat across the board for Canadian businesses in 2021 – and most businesses plan to review their insurance policies in the next year, new research shows.   Cybersecurity incidents, the health and mental well-being

Oil rig at sunset.
News AlbertaEmerging RisksInsurers

AXA XL hires two energy business underwriters

March 3, 2022 by Canadian Underwriter Staff

AXA XL has named Kate Zhou as senior underwriter and Ian Lui as underwriter for its Canada energy business. Both are based in Toronto. Zhou will report to Jennifer Arezes, head of property, construction and energy in Canada, who called

Inflation Meter
News BrokersClaimsCommercialConstructionEmerging RisksInsurersOperationsPersonal AutoPersonal Home

How inflation could prolong the hard market

February 25, 2022 by David Gambrill

Inflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and

Looking forward to the future
News CatastrophesEmerging RisksEnvironmentalInsurers

How the P&C industry should shift its thinking about climate risk

February 11, 2022 by Jason Contant

Canada’s P&C insurance industry needs to adapt its climate risk business model to focus more on loss prevention rather than indemnity, a speaker says Thursday at an industry event. And pricing needs to be forward-looking rather than based on historical

Graph representing Canadian economy
News BrokersCommercialCyberEmerging RisksInsurersLiabilityLoss Trends

Challenging market conditions remain for these two lines in Canada

February 10, 2022 by Jason Contant

Market conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms

Magnifying glass looking at interest rates
News Emerging RisksInsurers

Increased productivity, business investment, needed to temper inflation

February 9, 2022 by The Canadian Press

OTTAWA – The governor of the Bank of Canada says higher interest rates are coming, but businesses also need to boost productivity to help keep rising prices in check over the long term. Tiff Macklem, speaking virtually at a Canadian

Different approach concept
News Emerging RisksOntarioOperationsTechnology

Regulation: A threat or benefit to innovation?

February 8, 2022 by Jason Contant

While there is a perception that regulation is a threat to innovation in the Canadian financial services space, that’s not the case, say executives from a fintech hub.  “[For] any start-up here in Canada, I think there’s a bit of

Cybersecurity concept
News CommercialCyberEmerging RisksInsurersOperationsTechnology

The biggest cyber threats for your small business client

January 26, 2022 by Jason Contant

Your small business clients have a significant susceptibility to spoofing and clickjacking cyberattacks, a new survey finds. Software-as-a-service (SaaS) cybersecurity company CyberCatch randomly sampled 1,850 small- and medium-sized businesses (SMBs) in Canada across 10 industry segments. Spoofing (84.3% of SMBs

Magnifying glass looking at interest rates
News Emerging RisksInsurersLoss TrendsSupply Chain

Bank of Canada keeps key interest rate target on hold, but warns of looming hikes

January 26, 2022 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won’t stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020

Futuristic concept of infotainment system in vehicle
News Emerging RisksPersonal AutoTechnology

Onboard vehicle tech becoming a safety issue, advocates say

January 17, 2022 by Ian Bickis -THE CANADIAN PRESS

TORONTO – A driver sitting behind the wheel of a new vehicle could be scrolling through their Spotify app looking for the right album when they get an incoming call or text, only to have a warning bell go off