Canadian Underwriter

Topic Emerging Risks

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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

Group portrait of multiracial business persons with protective face masks standing together in the office.
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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

Balloon about to burst
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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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

Digital fingerprint
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,

Blazing summer sun during a heat wave
News Business InterruptionClaimsCommercialEmerging RisksEnvironmentalInsurers

What Europe’s record heat means for insurers

July 22, 2022 by Philip Porado

Insurers covering businesses that depend on goods or industrial inputs from Europe should keep an eye on potential loss scenarios emerging from the continent’s crippling heat wave. “High temperatures harmed tarmacs of motorways in Great Britain and Germany in the

Gas prices in Carleton Place, Ont. on May 17, 2022
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Canada’s inflation rate climbed to 8.1% in June as gas prices soared

July 20, 2022 by The Canadian Press

OTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate was up

AI robot driving a car in a futuristic city
News CommercialCommercial AutoConstructionCyberEmerging RisksInsurersLiabilityLoss ControlLoss TrendsRisk Managers

Who owns the risks posed by artificial intelligence? 

July 13, 2022 by Alyssa DiSabatino

As artificial intelligence (AI) increasingly affects the performance of products consumers use every day, discussions about who owns the AI risk is likely to become more intricate. For companies making these products, it’s important to know the risks involved, be

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2 risks keeping these business leaders up at night

July 12, 2022 by Alyssa DiSabatino

Québec businesses are more likely to prioritize business interruption and environmental risks than their counterparts in the rest of the country, according to a new report by Aviva.  However, both Québec and the rest of Canada are equally keen on

Silhouette Of Lonely Businessman Standing By Boardroom Table In Office.The chairs around table are empty.He looks desperate.The black and white color and dark atmosphere is used for economic depression feel.
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What the industry needs to fund the bankruptcy of a Top 70 insurer

July 11, 2022 by David Gambrill

Canadian P&C insurers need a compensation fund four times bigger than its current size of $60 million to handle “systemic contagion” associated with the insolvency of a Top 70 P&C insurer or bankruptcy related to a major earthquake, says the

Indemnity agreement on desk with pen and eye glasses.
News BrokersBusiness InterruptionClaimsClaims ProfessionalsCommercialCyberEmerging RisksInsurersLegalLiabilityPropertyRisk ManagersTrusted Advisor

How to advise clients on commercial contract indemnities

July 6, 2022 by Michael Carey

Commercial contracts often contain indemnities, and brokers should be prepared to address issues pertaining to indemnities within those contracts. Some clients may ask what an indemnity is. Simply put, it’s a promise to compensate another person for certain costs and