Topic Insurers
Canadian insured Cat losses exceed $2 billion — again
January 11, 2022 by Jason ContantCanadian insured losses topped $2 billion for the second year in a row, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). “2021 saw much discussion of a ‘new normal’ for Canadians, but when it comes to insured losses,…
Using your personal device for work? Why that matters to cyber insurers
January 10, 2022 by Jason ContantInsurers need to consider the hybrid workforce and employees using personal devices when reviewing a cyber risk, a managing general agent says. “Multi-factor authentication is critical as… employees access work email and networks remotely, sometimes even through a web application…
Excess of loss case should be heard in Canada, not New York: court
January 10, 2022 by David GambrillSeveral excess insurers have lost their bid to have a lawsuit take place in New York instead of Ontario in a mining insurance case brought before the Ontario Superior Court of Justice. Nine of 22 excess insurers argued that the…
Insurer cleared in case of hearing aid replacement mix-up
January 7, 2022 by David GambrillA home insurer has been cleared of any liability after a hearing aid supplier produced a different brand of ear phones than had been cited in the initial insurance quote, B.C.’s civil resolution tribunal has found. The small claims court…
Public auto insurer’s Top 5 fraud cases of 2021
January 6, 2022 by Jason ContantA phony kidnapping and a driver who was travelling nearly three times the speed he reported to investigators were among Manitoba Public Insurance (MPI)’s Top 5 auto fraud cases of 2021. Last year, MPI’s Special Investigation Unit (SIU) closed nearly…
What Canadian insurers paid for reinsurance in Jan. renewals
January 5, 2022 by David GambrillReinsurance rate increases for catastrophes in Canadian property lines depended on whether the carriers’ portfolios took a hit last year, with 10% to 20% rate increases for catastrophe portfolios that took a loss, and 5% to 10% increases for those…
Appeal Court overturns $350K bad faith award against public insurer
January 5, 2022 by David GambrillManitoba’s Court of Appeal has overturned a $348,000 damage award against the province’s auto insurer, finding that the insurer did in fact act in good faith towards a person injured in a collision involving an uninsured auto. In making its…
Executive Outlook 2022: Silvy Wright, Northbridge Financial Corporation
December 22, 2021 by Canadian Underwriter StaffSilvy Wright, President and CEO, Northbridge Financial Corporation As we reflect on another unprecedented year, the ability to provide a high standard of uninterrupted, responsive service and solutions that help our customers run safer businesses continues to be paramount. We will be…
Executive Outlook 2022: Shelley Willick, Saskatchewan Mutual Insurance Company
December 22, 2021 by Canadian Underwriter StaffShelley Willick, President & CEO, Saskatchewan Mutual Insurance Company (SMI) When the pandemic hit in 2020, what we assumed would last only a few weeks or maybe months has turned into 20 months and counting. The industry has shown tremendous resilience throughout…
Executive Outlook 2022: Jason Storah, Aviva Canada
December 22, 2021 by Canadian Underwriter StaffJason Storah, CEO, Aviva Canada The lesson I hope we all take from these past 20 months is a collective acknowledgement that science saves lives. As COVID-19 moves to the rear-view mirror, we must turn our focus to the climate emergency.…
Executive Outlook 2022: Renato Rodrigues, AXA XL, Canada
December 21, 2021 by Canadian Underwriter StaffRenato Rodrigues, CEO, AXA XL, Canada Resiliency, global connectivity and the impact of non-operational risks are some of the top lessons from this second year of the global pandemic. Overall, businesses have shown real resiliency, particularly amid incredible uncertainty, mandated shutdowns, changes…
Executive Outlook 2022: Saad Mered, Zurich Canada
December 21, 2021 by Canadian Underwriter StaffSaad Mered, CEO, Zurich Canada Insurance professionals showed great resilience in 2021 and we cannot take that for granted. We need to continue to help them focus on well-being, mental health and managing their work-life balance. As the industry continues to struggle…