Canadian Underwriter

Topic Insurers

Concept of M&A integration
News InsurersLoss ControlLoss TrendsMergers and AqcuisitionsOperations

How Intact is faring with the RSA integration

February 3, 2022 by Jason Contant

Intact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation

Photo of Ben Kosic
News Insurers

Capco Canada names new insurance practice lead

February 2, 2022 by Canadian Underwriter Staff

Global technology and management consultancy Capco named Ben Kosic as a partner in its Canadian insurance practice. Kosic previously spent eight years as president and CEO of Canadian National Insurance Crime Services (CANATICS), an anti-fraud consortium representing eight of Canada’s

Canada flag on bar chart concept of economic recovery and business improving after crisis such as Covid-19 or other catastrophe as economy and businesses reopen again.
News CommercialInsurersLiability

Which insurer is providing more E&O capacity to Canada

February 2, 2022 by David Gambrill

Signs are showing that stability – and more capacity – is returning to Canada’s commercial insurance market, including a recent announcement that the professional liability division of Cincinnati-based Great American Insurance Group has expanded into Canada. More specifically, Great American’s

Winter road in Toronto
News InsurersLegalOntarioPersonal AutoTechnology

Why don’t Ontario auto insurance clients have more choice?

February 2, 2022 by Jason Contant

Ontario auto insurance consumers would love the option to purchase a scaled-down auto insurance policy tailored to their individual needs and budgets, a speaker said at an industry event last week hosted by the Financial Services Regulatory Authority of Ontario

Concept of innovation
News InsurersLegalOntarioTechnology

FSRA’s case for principles-based regulation

February 1, 2022 by Jason Contant

Principles-based regulation is the right system for private sector innovation, a speaker told an industry event last week.  “If you imagine trying to deal with a highly innovative sector based on a very rules-based rigid, detailed system, I think it

Overview of Vaughan, Ontario
News ClaimsInsurersLoss TrendsOntarioPersonal Auto

Why did auto insurance rates go up in some Ontario communities?

January 31, 2022 by Jason Contant

While auto insurance premiums across Ontario dropped an average of 3.8% last year from 2020, certain areas saw single- or double-digit increases, according to a recent report from rate aggregator Ratesdotca. The cities of Nobleton, Schomberg, Orangeville and King City,

Auto insurance policy with keys
News InsurersLegalPersonal Auto

How this regulator is approaching the ‘take-all-comers’ auto insurance rule

January 28, 2022 by Jason Contant

The Financial Services Regulatory Authority of Ontario (FSRA) is actively supervising insurers on its “take-all-comers” guidance. “We’re requiring them to review their practices. We’re requiring them to report on this review later in [2022], and to establish remediation plans for

SUV on Cadillac Mountain drive in Acadia national park
News InsurersPersonal Auto

SUVs are top Canadian auto theft target in 2021

January 27, 2022 by Canadian Underwriter Staff

Close to half (45.1%) of private insurance company car theft claims in Canada during 2021 were linked to SUVs, says data compiled by price-comparison website HelloSafe. The data found approximately 22,500 cars stolen nationwide in 2021 and that the most

Close-up aerial photo of an oil refinery in the Alberta Oilsands, near Fort McMurray.
News EnvironmentalInsurers

Insurers holding difficult conversations with carbon-producing clients as ESG awareness grows

January 27, 2022 by Alyssa DiSabatino

With environmental, social and governance (ESG) awareness on the rise, insurance companies are starting to hold difficult conversations with their long-standing carbon-producing partners, said three P&C insurance company executives during a Canadian Underwriter webinar on Jan. 25.  In compliance with the

Cybersecurity concept
News CommercialCyberEmerging RisksInsurersOperationsTechnology

The biggest cyber threats for your small business client

January 26, 2022 by Jason Contant

Your small business clients have a significant susceptibility to spoofing and clickjacking cyberattacks, a new survey finds. Software-as-a-service (SaaS) cybersecurity company CyberCatch randomly sampled 1,850 small- and medium-sized businesses (SMBs) in Canada across 10 industry segments. Spoofing (84.3% of SMBs

Magnifying glass looking at interest rates
News Emerging RisksInsurersLoss TrendsSupply Chain

Bank of Canada keeps key interest rate target on hold, but warns of looming hikes

January 26, 2022 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won’t stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020

Man with his hands up in a pile of papers. Business concept. Vector illustration.
News InsurersLiability

How to handle paperwork from pandemic-related policy changes

January 25, 2022 by Tara Kelly

Have you noticed an uptick in new policies and policy change requests lately? Many P&C insurance companies have, because coverage needs for individuals and businesses throughout Canada changed drastically during the pandemic. For example, people who once had long commutes