Canadian Underwriter

Topic Insurers

Flood damage
News B.C.CatastrophesClaimsCommercialEnvironmentalInsurersLoss TrendsPersonal HomeProperty

B.C. flooding is the costliest severe weather event in province’s history

December 10, 2021 by Jason Contant

It’s official — the massive flooding in southern British Columbia is the costliest severe weather event in the province’s history. In a press release issued late Thursday by Insurance Bureau of Canada (IBC), Catastrophe Indices and Quantification Inc. (CatIQ) said

News BrokersInsurers

Make sure wealthy clients properly insure objets d’art and memorabilia

December 9, 2021 by Brooke Smith

At a November Sotheby’s auction, a well-known U.S. CEO paid US$43.2 million for a first-edition printed copy of the U.S. Constitution. It’s the the kind of purchase that prompts savvy clients to speak with an insurance broker about specialty coverage.

News AlbertaInsurersLegalOntarioPersonal AutoTechnologyTrending

Here are the latest trends in insurance fraud

December 8, 2021 by Jason Contant

“Re-vinning” of stolen vehicles — where thieves steal a vehicle, put what appears to be a legitimate vehicle identification number (VIN) on the front dash and then sell it to an unsuspecting customer — is increasing as a fraud trend,

News InsurersLoss TrendsSupply Chain

Bank of Canada keeps key interest rate target on hold at 0.25%  

December 8, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – Canada’s central bank has sent a warning that increases in the cost of living would continue into next year, but signalled it wasn’t yet prepared to pull its key lever to rein in inflation.   The annual pace of inflation in

News ClaimsInsurersManitobaPersonal Auto

Loan program helps Manitobans get better traction

December 7, 2021 by Canadian Underwriter Staff

Clients telling you they can’t afford winter tires? Manitoba Public Insurance (MPI) administers a loan program to help get drivers the cash, and the traction, they need. Loan terms last up to four years at prime plus 2% and up

News AlbertaCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPropertySupply Chain

These socioeconomic factors are driving up property claims

December 7, 2021 by Greg Meckbach

Urbanization, the increasing popularity of solar panels and a greater awareness of what is covered insurance are among the factors driving an escalation of insured property losses, a speaker suggested at last week’s CatIQ Connect conference. “Urbanization means that we

News Emerging RisksInsurersOperations

Challenges remain as IFRS 17 implementation approaches

December 6, 2021 by Jason Contant

Project management, system implementation, and accessing resources are the biggest challenges, as the start date of the new insurance accounting standard IFRS 17 nears, Chris Cornell, partner, audit, and national sector leader, insurance, with KPMG in Canada told Canadian Underwriter

News Emerging RisksEnvironmentalInsurersLiability

Institutional investors increasingly likely to divest on ESG grounds

December 6, 2021 by Canadian Underwriter Staff

Like insurers, Canada’s institutional investors are examining how environmental, social and governance (ESG) factors weigh into their operational decisions. A new EY report on global institutional investors that includes Canada showed 74% are more likely to divest from companies with

Motorist driving on closes Trans-Canada highway in Abbotsford, BC
News AdjustersB.C.CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal HomeProperty

Claims adjusters react to B.C. flooding

December 6, 2021 by Greg Meckbach

It’s too early to tell how much the recent “atmospheric river” in British Columbia will cost the industry, but independent adjusters are observing widespread damage. Environment Canada lifted weather alerts for British Columbia on Thursday as storm conditions eased, floodwaters

News InsurersMergers and AqcuisitionsQuebec

How Beneva is promoting its direct brand at this Quebec event venue

December 3, 2021 by Greg Meckbach

Canada’s largest mutual insurer is promoting its new Beneva direct-to-consumer brand by being a major sponsor of Quebec City’s major junior hockey team and official presenter of the Videotron Centre’s calendar of events. Beneva announced Thursday a partnership with Quebecor

News ClaimsInsurersLoss TrendsPersonal AutoSaskatchewan

Saskatchewan spotlights steep distracted-driving fines

December 2, 2021 by Canadian Underwriter Staff

Five hundred and eighty dollars. And … four demerit points. That’s how much a first offence for using a cell phone while behind the wheel will cost a Saskatchewan driver, Saskatchewan Government Insurance (SGI) said as part of an October

News HRInsurersTrending

Why some insurance professionals are looking forward to back-to-the-office

December 2, 2021 by Jason Contant

Anna McCrindell, vice president of commercial insurance with Wawanesa Mutual Insurance Company, likes the energy she gets from heading back into the office. McCrindell said during an Insurance Institute of Ontario webinar Nov. 23 that in her current role, she’s