Canadian Underwriter

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Risk management more important than ever to middle market firms, yet few turn to brokers for advice: Chubb report

October 22, 2021 by Canadian Underwriter Staff

Risk management has become a top concern for middle market companies surveyed following more than a year of pandemic and other related business disruption, data from Chubb has shown. According to Chubb’s Middle Market Indicator for Q2 2021, which surveyed

News BrokersInsurersMergers and AqcuisitionsOntarioOperations

Intact discusses RSA talent, Wawanesa looks to expand footprint in Ontario

October 22, 2021 by Jason Contant

Louis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S

News ClaimsInsurersManitobaPersonal Auto

Public auto insurer applies for rate decrease, customer rebate

October 21, 2021 by Jason Contant

Manitoba Public Insurance (MPI) has adjusted its general rate application and is requesting a 1.2% rate decrease along with a $335 million rebate to customers. MPI recently applied to the Manitoba Public Utilities Board (PUB) for a provisional 2.8% rate

News BrokersCommercialCommercial AutoInsurersLoss ControlProperty

Tips for your clients to protect against cargo theft

October 20, 2021 by Jason Contant

If your clients are carrying cargo, they should take a comprehensive and layered approach to protecting these goods, a transportation expert from Travelers said recently. This comprehensive approach consists of three layers — good processes, procedures and practices; “hard security”

News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLegalLoss TrendsOntarioPersonal Auto

Ontario auto claim reduces employment insurance sickness benefits: federal judge

October 20, 2021 by Greg Meckbach

An Ontario auto claimant is facing a reduction in federal employment insurance (EI) benefits because she was getting income replacement benefits with her auto insurer. In 2019, Antonina Sennikova was involved in a motor vehicle accident that prevented her from

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News CommercialEmerging RisksEnvironmentalInsurersLiability

Ignoring ESG means ‘significant’ D&O risk to insurers and business: AGCS

October 19, 2021 by Canadian Underwriter Staff

Businesses and insurers ignore environmental, social and governance (ESG) issues at their peril, an Allianz Global Corporate & Specialty (AGCS) report released this month suggests. “If an ESG issue is not handled or disclosed appropriately by the company or board,

News BrokersInsurersOperations

Pandemic communication between brokers and insurers needed improvement, brokerage executive says

October 19, 2021 by Jason Contant

Communication between brokers and insurers could have been better during the pandemic, a Hub International executive said during Insurance Bureau of Canada’s 2021 Commercial Insurance Symposium. “We did have some good communication, but I think there was a little bit

News CommercialCyberInsurers

Is it time for a public-private partnership for cyber risk?

October 18, 2021 by Jason Contant

There will be a point at which a cyber tail event will be too expensive for the insurance industry, as a whole, to cover, a speaker said Thursday during the CatIQ Connect virtual conference. “That’s where we are already starting

News CatastrophesEnvironmentalInsurers

How much are reinsurers underestimating climate change risk?

October 18, 2021 by Jason Contant

Global reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings.  “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate

News InsurersSupply Chain

Businesses see higher inflation, wages and job changes, Bank of Canada reports

October 18, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – Consumers and businesses expect increases in the cost of living to stay hot over the next year, the Bank of Canada says as part of surveys results that also show people more willing to search for new jobs,

News CommercialInsurersLiabilityMergers and Aqcuisitions

Why private equity firms should partner with just one insurer

October 14, 2021 by Jason Contant

Private equity firms should consider partnering with one carrier who is able to handle multiple lines of insurance for both the private equity firm and its portfolio companies, a mutual insurer told Canadian Underwriter. “We’ve seen benefits of having the

News ClaimsCommercialCyberInsurers

As cyber attacks increase, insurers in the space face rising losses

October 13, 2021 by James Langton - Advisor's Edge

Amid rising losses and increasing claims on cyber insurance, companies that provide insurance against online hackers are facing growing risks, says Fitch Ratings. In a new report, the rating agency said that while cyber insurance has been a profitable line