Canadian Underwriter

Topic Insurers

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

Toy auto mobile on top of a stack of note books and beside a spilled jar of coins
News Commercial AutoInsurersLoss TrendsPersonal Auto

How Intact plans to approach auto pricing in 2024

February 21, 2024 by David Gambrill

Intact delivered a combined ratio of 94.7% in its auto insurance business in 2023, and the company expects to post a similar auto result in 2024 as well, Intact Financial Corporation CEO Charles Brindamour said today in a virtual fireside

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

Portrait of an agent consulting a mature couple at office
News B.C.BrokersInsurersLegalPersonal Auto

Brokers needn’t advise new Canadians to obtain a provincial driver’s licence

February 20, 2024 by David Gambrill

Insurance brokers in B.C. aren’t required to advise clients new to Canada that they must apply for a provincial driver’s licence within 90 days of residency in the province, B.C.’s Civil Rules Tribunal has ruled. “I find that the duty

Arrows pointing up symbolizing growth
News BrokersInsurersManagementMergers and AqcuisitionsOperations

PE-driven M&A is slowing, despite record deals in 2023

February 20, 2024 by Alyssa DiSabatino

Despite some consolidators slowing their pace — namely, private equity firms — Canadian insurance brokerage M&A reached a record level of deals in 2023. There were 108 publicly announced deals last year, Smythe LLP, a P&C insurance advisory and consulting

Concept of decreasing inflation
News InsurersLoss Control

‘Very pleasant surprise’: Canada’s inflation rate tumbled to 2.9% in January

February 20, 2024 by Nojoud Al Mallees – The Canadian Press

OTTAWA – Canada’s inflation rate fell more than expected last month as price growth moderated across the economy, including outright price declines for gasoline, airfares and clothing. Statistics Canada reported Tuesday the annual inflation rate tumbled to 2.9 per cent

Engineer using thermal camera to inspect home
News CommercialConstructionInsurersPersonal HomeProperty

Co-operators acquires home inspection firm

February 16, 2024 by Jason Contant

The Co-operators has entered the home services line of business with the acquisition of the parent company of home inspection firm Carson Dunlop & Associates Ltd. Co-operators Financial Services Limited, a wholly-owned subsidiary of The Co-operators Group Limited, announced the

Creating long-term value within your client base
News BrokersCommercialCommercial AutoInsurersManagementOperationsPersonal AutoPersonal Home

Making clients valuable to your brokerage for the long term

February 15, 2024 by Adam Mitchell

When it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C industry can’t operate at that level. You can’t sell

Cutting Canadian dollars to represent price cuts
News BrokersCommercialInsurersLegalLiabilityLoss Trends

Why D&O price cuts may not be justified

February 15, 2024 by David Gambrill

Softer market conditions reported in some professional liability lines are premature and unjustified, a global reinsurer told September’s National Insurance Conference of Canada (NICC) in Montreal. The NICC reinsurance panel followed a presentation on the global economy by Swiss Re’s

Business with Canadian flag in front
News Insurers

How reinsurers are sizing up Canada

February 15, 2024 by Alyssa DiSabatino

Reinsurers may start to view the great white north as an attractive market after the most recent Jan.1 2024 reinsurance renewal, one reinsurer shared at Cat IQ Connect in Toronto.  During the Renewals Season Recap discussion, moderator Donna Ince, senior

Cyber graphic of an arrow pointing upward
News BrokersCatastrophesClaimsCommercialInsurersPersonal AutoPersonal Home

Cats scratch Intact’s bottom line in 2023

February 14, 2024 by Alyssa DiSabatino

Intact Financial Corporation (IFC) has reported elevated catastrophe losses in 2023, raising its combined operating ratio (COR) by 4.3 points since 2022. “The past year has been challenging for society, particularly in the face of numerous natural disasters,” said Charles

Drone Point View of Busy Traffic at Night
News B.C.InsurersLegalPersonal Auto

Canada’s P&C professionals sound off on auto reform

February 14, 2024 by David Gambrill

Almost 70% of Canadian property and casualty insurance professionals describe the need for auto reforms across the country as either “very urgent” or “urgent,” but they don’t believe provincial governments share their sense of urgency. Canadian Underwriter polled more than