Canadian Underwriter

Topic Insurers

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News Insurers

What 2022 WICC gala raised from the industry for cancer research

August 15, 2022 by Phil

Women in Insurance Cancer Crusade’s (WICC) 24th annual gala, along with an accompanying sold-out raffle and online auction, raised a six-figure sum for cancer research, the organization said in a press release. All $150,000 in donated funds from the June

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News B.C.BrokersCatastrophesClaimsCommercialEmerging RisksInsurersTechnologyTrending

Why Deloitte doesn’t anticipate a soft market ‘for the next few years’

August 15, 2022 by David Gambrill

Canada’s commercial P&C insurance market may not soften “for the next few years,” said a report on the industry published by Deloitte. “While there may be products where the market becomes more competitive on new business with good claims experience,

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News ClaimsClaims ProfessionalsInsurersLegalPersonal AutoSaskatchewan

Client anger: It’s getting tough out there for insurers

August 12, 2022 by David Gambrill

Saskatchewan’s privacy officer has allowed the government’s auto insurer to withhold portions of a claimant’s risk assessment, on the basis that revealing the information could conceivably lead to injury or harm to its employees. However, the privacy commissioner required Saskatchewan

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News BrokersClaimsEmerging RisksInsurersLoss TrendsSupply Chain

Why extended hard market should be easier to explain to consumers

August 11, 2022 by David Gambrill

Consumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after

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News HRInsurers

How P&C companies can improve their DEI outlooks

August 11, 2022 by Alyssa DiSabatino

Although many in the industry understand the value of diversity, equity and inclusion (DEI), companies that aren’t sold on the value proposition may nevertheless benefit from viewing DEI as risk management, suggests The Canadian Association of Black Insurance Professionals (CABIP).

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News Insurers

Do flight delays boost travel insurance purchases?

August 11, 2022 by Canadian Underwriter Staff

With travel demand on the rise in the wake of easing COVID-19 restrictions, a larger percentage of Canadians are opting for overseas journeys. The number of Canadian residents returning by air from abroad at kiosk-equipped airports totalled 901,300 in June

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News AlbertaB.C.ClaimsInsurersPersonal HomeRisk Managers

Condo insurance: Is market stabilization fleeting?

August 11, 2022 by Jason Contant

Canada’s condo insurance market appears to have stabilized but the industry shouldn’t get lulled into the feeling that reforms are no longer needed, said Aaron Sutherland, the vice president of Insurance Bureau of Canada’s (IBC) Pacific region. Over the past

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News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersPersonal AutoSupply Chain

Where Aviva thinks insurers are feeling inflation’s impact most acutely

August 10, 2022 by David Gambrill

Inflation is wreaking havoc in all major lines of P&C insurance, but its effects seem to be most acute in auto insurance, particularly auto physical damage, reports Aviva Canada CEO Jason Storah. “The most acute impact we’ve seen so far

News B.C.BrokersInsurersMergers and AqcuisitionsOntario

Navacord makes its largest deal of the year

August 10, 2022 by Alyssa DiSabatino

Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022.   Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock,

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News CommercialCyberInsurersLoss ControlTechnology

Do your clients have enough (or any) coverage for ransomware attacks?

August 10, 2022 by Jason Contant

Businesses in Canada and the United States are increasingly concerned about how they will pay ransomware demands and more than half would like governments to cover damages when future attacks are linked to other nation states, according to a new

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News BrokersCommercial AutoInsurersOntarioPersonal Auto

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

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News Commercial AutoInsurersPersonal Auto

OSFI’s capital guidelines include new 2.5% charge for risk-sharing pools

August 9, 2022 by David Gambrill

Canada’s federal solvency regulator has released its final capital guidelines for the P&C insurance sector, and one new wrinkle includes a fresh approach to handle the provincial risk-sharing pools administered by Facility Association — a new 2.5% capital charge. The