Canadian Underwriter

Topic Insurers

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News Commercial AutoInsurersQuebecTechnology

Electric truck/bus maker cuts jobs

November 27, 2023 by THE CANADIAN PRESS

MONTREAL – The Lion Electric Co. says it is cutting 150 jobs or about 10% of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder

auto and handcuffs on shiny background.
News ClaimsCommercial AutoInsurersLegalOntarioPersonal Auto

How auto insurers responded to Ontario’s auto fraud announcement

November 24, 2023 by David Gambrill

Ontario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in history when Canada’s insurers paid over $1 billion in claims

Car Accident Detail.
News BrokersInsurersLegalOntarioPersonal Auto

What Ontario drivers might save by dropping DCPD coverage

November 23, 2023 by David Gambrill

Ontario brokers are questioning the value of the Ontario government’s forthcoming new law allowing drivers to drop out of direct compensation property damage (DCPD) coverage for their cars. DCPD coverage is currently mandatory and protects policyholders in the event of

Businessman using laptop with AI, tech, auto and travel insurance concepts
News ClaimsClaims Canada ArchiveInsurersPersonal HomeTechnology

Why you need to consider embedded insurance

November 23, 2023 by Jason Contant

Embedded insurance not only enhances the customer experience but also provides greater access to data for insurers, speakers said during KPMG’s recent 2023 Insurance Conference in Toronto.  “You unlock a lot of data that will change the way you do

House model with man holding magnifying glass home inspection or searching for a house
News B.C.InsurersLegalLiabilityPersonal Auto

Auto insurance: How you can live with someone but not be in a “household”

November 22, 2023 by David Gambrill

A passenger seriously injured in an auto collision caused by an uninsured driver is not considered an “insured” under her father’s or boyfriend’s auto policies, even though she was living with them at the time of the crash, B.C.’s Court

Declining interest rates
News CommercialInsurers

Fighting inflation half-heartedly would be ‘huge mistake,’ Bank of Canada warns

November 22, 2023 by Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake. The governor acknowledged during a speech Wednesday that interest rates may already be high enough to bring inflation

Trois-Rivières, Quebec
News Business InterruptionCommercialCyberInsurersLegalOperationsQuebecSupply Chain

What worries Canadian businesses about Quebec’s language law

November 22, 2023 by Jason Contant

Quebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,

Arrows pointing up symbolizing business growth
News CatastrophesCommercialInsurersLoss ControlPersonal HomeProperty

What carriers can expect for reinsurance renewals

November 22, 2023 by Alyssa DiSabatino

Primary insurance carriers can expect for the most part flat to high single-digit premium increases during Jan. 1, 2024, reinsurance renewals, Matt Wolfe, Aon Canada’s president and CEO of Reinsurance Solutions tells Canadian Underwriter.  It’s a far cry from the

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News AlbertaB.C.BrokersInsurersManagementMergers and AqcuisitionsOntario

Has private equity interest in P&C brokerages peaked?

November 21, 2023 by Jason Contant

Private equity interest in the Canadian P&C brokerage space is showing no sign of slowing down, industry observers said last week at KPMG’s 2023 Insurance Conference in Toronto.  Private equity groups remain eager to acquire Canadian brokerages, said Andrew Mathias,

News EducationEnvironmentalInsurersManagement

Why insurance has proved a rewarding career for one emerging leader

November 21, 2023 by Alyssa DiSabatino

According to Ngawang (Noah) Choedon, everyone has a responsibility to give back. It’s why she takes every opportunity to help develop the new generation of P&C entrants.  It’s also why she was recognized with the Insurance Institute of Canada’s Emerging

Smoke from wildfires fills the sky in Yellowknife
News B.C.CatastrophesClaimsCommercialEmerging RisksInsurersLoss TrendsNWTPersonal AutoPersonal Home

Price tag for the insured wildfire losses in Northwest Territories

November 20, 2023 by David Gambrill

Insured wildfire damage in Hay River and Yellowknife, NWT, during the summer — which led to Canada’s largest evacuation ever — cost the P&C insurance industry a total of more than $60 million, Catastrophe Indices and Quantification (CatIQ) Inc. reported

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News ClaimsClaims Canada ArchiveCommercialInsurersLoss ControlLoss TrendsMergers and AqcuisitionsOperationsTechnology

How the M&A environment will affect carriers’ business models

November 17, 2023 by Jason Contant

Canadian P&C insurance industry carriers and service providers will need to transform their business models to help control claims and operating costs in an M&A environment featuring competing demands for capital, speakers said Thursday at KPMG’s 2023 Insurance Conference in