Canadian Underwriter

Topic Insurers

Person handing a stack of money toward the camera as a form of insurance salaries
News AlbertaB.C.BrokersCommercialCommercial AutoInsurersManitobaOntarioPersonal AutoPersonal HomeQuebecSaskatchewan

What commercial and personal lines brokers make in 2024

March 18, 2024 by Alyssa DiSabatino

Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows.  The second iteration of Impact’s annual Insurance

Much of Nova Scotia paralyzed following snowstorm
News AlbertaB.C.BrokersCatastrophesClaimsClaims ProfessionalsEmerging RisksEnvironmentalInsurersNova ScotiaPersonal HomeQuebec

How winter storms tally this year compared to last

March 15, 2024 by Alyssa DiSabatino

Maritimers were digging out for days after historic levels of snowfall dropped atop Nova Scotia and P.E.I. in early February.   The multi-day storm produced nearly 5 feet of snow in Cape Breton, N.S. Then about two weeks later, Nova Scotians

News CatastrophesEmerging RisksEnvironmentalInsurersQuebec

Quebec lender ending new mortgages in flood zones. Is insurance next?

March 15, 2024 by Morgan Lowrie - The Canadian Press

QUEBEC — Nearly five years after floods raced through hundreds of Quebec communities and forced thousands from their homes, a major lender’s decision to stop issuing new mortgages in flood zones is the latest challenge for cities trying to adapt

Police badge and handcuffs on a computer to represent regulators cracking down on computer crime
News CommercialEmerging RisksInsurersLegalTechnology

How quantum computing creates new risks, regulatory issues for insurers

March 14, 2024 by Jason Contant

Quantum computing stands at the forefront of data processing technology and, although it remains an open question how it will be regulated, some form of guidelines will be needed. Quantum computers go well beyond a standard binary form of processing

Three hands holding jigsaw puzzle pieces
News BrokersInsurersMergers and AqcuisitionsOntario

Navacord expands with third acquisition of the year

March 14, 2024 by Alyssa DiSabatino

All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year.   Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks

Cargo airplane flying over container ship in the ocean.
News BrokersBusiness InterruptionCommercialEmerging RisksInsurersLoss ControlLoss TrendsRisk Managers

One emerging threat to your business clients’ supply chains

March 13, 2024 by Alyssa DiSabatino

Geopolitical conflict is wreaking havoc on your business clients’ supply chains, a new Marsh report finds.   It’s required businesses to find better ways to mitigate or transfer specific risks before they develop into something of concern, according to Marsh

The McDougall Creek wildfire in West Kelowna, BC.
News AlbertaB.C.CatastrophesClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss Trends

Night once brought firefighting reprieve, but no longer, Canadian study shows

March 13, 2024 by Brenna Owen - The Canadian Press

BRITISH COLUMBIA — The darkness of night has traditionally signalled reprieve for wildland firefighters, but a new Canadian study shows that’s changing, and drought is the driving force. The availability of bone-dry fuels is the key mechanism promoting extreme fire

Hourglass, stopwatch and clock floating in blue water
News ClaimsClaims ProfessionalsCommercialInsurersLegalLiabilityOntario

Paid the claim? No need to re-appraise after limitation period, court says

March 12, 2024 by Alyssa DiSabatino

An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled.  “An admission of liability to pay on the part of an insurer

The Fraser Valley in B.C. after flooding on Nov. 21, 2021
News B.C.BrokersCatastrophesClaimsEmerging RisksEnvironmentalInsurers

Federal disaster aid for Fraser Valley floods, landslides taking too long: B.C. MP

March 12, 2024 by Mia Rabson - The Canadian Press

The federal government estimates it will need to pay almost $3.4 billion for its share of the disaster recovery bills for flooding and landslides that devastated British Columbia’s Fraser Valley in November 2021. But more than two years after that

Quantum computing could be a game changer for the insurance industry
News Claims TechnologyCommercialInsurersTechnology

What quantum computing could mean for insurance

March 12, 2024 by Jason Contant

What will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such

Blizzard in city. Winter weather. Deep snow
News AlbertaB.C.CatastrophesClaimsInsurersManitobaSaskatchewan

What Western Canada’s deep freeze cost insurers

March 11, 2024 by David Gambrill

Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the figure Monday, which is based on industry claims totals

News BrokersInsurersPersonal Auto

Why your clients may want to change their auto coverage now

March 11, 2024 by Alyssa DiSabatino

There’s a 37% chance your clients are making changes to their driving routines, and that means they may need to update their auto coverage, according to a recent survey by RatesDotCa.   Canadians who are planning to make changes to