Canadian Underwriter

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News Insurers

Why A.M. Best sees the global reinsurance market as ‘stable’

August 13, 2020 by Jason Contant

Months into the COVID-19 pandemic, reinsurance industry observers are seeing a mixed forecast ahead and it’s too early to tell how the pandemic will affect rating actions, according to a recent A.M. Best webinar. “Obviously, the situation has gotten complicated

News Emerging RisksInsurersLegalLoss ControlOntarioPersonal AutoTechnologyTrending

Why it’s hard to make telematics ‘commercially viable’ in Canada

August 13, 2020 by Greg Meckbach

If regulators continue to prohibit auto insurers from imposing surcharges when they detect risky driving behaviour through telematics, it will be difficult for usage-based insurance to be commercially viable, an Aviva Canada data science expert suggests. “Telematics is a good

News BrokersClaimsInsurersLegalLiabilityPersonal Home

Brokers urged to remind clients: Home policies won’t cover ‘pandemic pods’

August 13, 2020 by David Gambrill

As schools across the country prepare for re-opening in September, skittish parents who are not in favour of in-class learning for their children are setting up so-called “pandemic pods” to home-school small groups of children in the home. But brokers

News CommercialInsurersLiabilityLoss Trends

Three reasons why the hard market may drag on for years

August 12, 2020 by Greg Meckbach

Commercial clients are likely to see big price hikes at least through 2021 and the economic impact of COVID-19 is partly to blame, a Bermuda insurance executive suggests. “We saw double-digit rate increases in our Canadian specialty business,” Albert Benmichol, CEO

News AdjustersAlbertaCatastrophesClaimsInsurers

The impact of Calgary’s hailstorm on North American H1 storm losses

August 11, 2020 by Jason Contant

Canada’s costliest-ever hailstorm contributed to the largest insured losses in North America since the first half of 2011, according to preliminary natural catastrophe estimates from Swiss Re. The hailstorm that struck Calgary in June cost the industry $1.2 billion based

News Insurers

National mutual association president Normand Lafreniere retires

August 10, 2020 by Jason Contant

Industry veteran Normand Lafreniere, president of the Canadian Association of Mutual Insurance Companies (CAMIC), is now officially retired. In a LinkedIn post Wednesday, Lafreniere said he will continue as a consultant for CAMIC over the next few weeks, pending the

News ClaimsCommercial AutoInsurersLoss Trends

As provincial economies re-open, insurers eye their auto claims frequencies

August 10, 2020 by David Gambrill

As if it weren’t enough with all of the recent news reports about natural catastrophe losses in Alberta, and claims against insurers for business interruption losses due to the COVID-19 pandemic, there is another, more familiar risk looming on the

News CommercialEmerging RisksInsurersOperations

Aviva Canada’s approach to navigating the economic recession

August 7, 2020 by David Gambrill

Whether or not an economic recovery in Canada is just around the corner — speculation of which is fuelled by the developments in researching a COVID-19 vaccine — Aviva Canada is committed to sticking to its three-year financial targets established

News ClaimsCommercialInsurersOntario

Crane collapses in downtown Toronto again, no serious injuries reported

August 7, 2020 by Adam Malik

TORONTO – The mayor of Toronto is calling for a speedy investigation into the cause of a crane collapse in the city’s downtown — the second such incident in less than a month. Toronto Mayor John Tory says that while

News BrokersBusiness InterruptionInsurersManagementOpinion

Opinion: It’s on us as brokers to explain BI to clients

August 6, 2020 by Nick Novinger, Regional Manager (Quebec), Canadian Insurance Brokers Inc.

Business interruption has become a touchy and even confusing topic for some of our clients, but it’s on us as brokers to ensure they properly understand the scope of its coverage. Business interruption will continue to be an important coverage

News ClaimsClaims TechnologyCommercial AutoInsurersPersonal Auto

How COVID has changed Intact’s digital journey

August 6, 2020 by Greg Meckbach

The COVID-19 pandemic has changed the way Intact Financial Corp. offers digital services and some of these changes could be permanent. Since several provinces imposed lockdown measures in March after the World Health Organization declared COVID-19 a pandemic, Intact has

News BrokersClaimsCommercialInsurersPersonal Home

Provinces not moving fast enough to assess, mitigate flood risk: report

August 6, 2020 by Mia Rabson, The Canadian Press

OTTAWA — A new report says provincial governments are not moving fast enough to protect homes and other buildings from the ravages of flooding. The report from the Intact Centre on Climate Adaptation at the University of Waterloo says on