Canadian Underwriter

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Distracted driving behaviours that your clients deem to be “safe”

March 30, 2021 by Jason Contant

Auto insurers take note: the majority of your clients admit to engaging in distracted driving behaviours, but they consider these behaviours to be safe. The Third Annual Distracted Driving survey conducted by rate comparison site RATESDOTCA revealed that 74% of

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Pandemic distraction: Is Canada ready for the next big disaster?

March 30, 2021 by David Gambrill

Focused narrowly on responding to the COVID-19 global pandemic — and preparing for the next one — Canada may be losing sight of preparing for other, potentially more likely disaster scenarios, P&C insurance industry executives commented at the Swiss Re

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Canada to see a faster payments system in 2022. Opportunity knocks for brokers

March 29, 2021 by Adam Malik

While many are eager to see the imminent arrival of a new system that promises to make day-to-day financial transactions quicker, cyber risk experts are warning that such a system may elevate the risk exposure to cybercrime, potentially opening the

News Commercial AutoInsurersNova Scotia

Regulator approves lower deductibles for commercial vehicles — with a caveat

March 29, 2021 by David Gambrill

Nova Scotia’s auto insurance regulator has approved Facility Association’s request to lower minimum deductibles for commercial vehicles, albeit with one significant caveat and a few “concerns.” The caveat has to do with logistics. For Facility Association’s member carriers, the upshot

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Canadian P&C exec predicts the next big growth opportunity

March 26, 2021 by Adam Malik

The legal expense insurance market is still in its relative infancy and could grow more than six times its size in the next decade, two industry leaders predict. The current value of the market in Canada is about $80 million,

News BrokersCommercialInsurersMergers and AqcuisitionsRisk Managers

The rationale for Intact expanding its commercial appetite

March 26, 2021 by Greg Meckbach

Mid-sized commercial clients are going to get bigger, so executives with Canada’s largest property and casualty insurer want to continue their expansion in specialty lines. “We are really scaling up our specialty lines capability here in North America,” Intact Financial

News ClaimsClaims ProfessionalsClaims TechnologyCommercial AutoInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoTechnology

How to detect insurance fraud before the tow truck turf wars start

March 26, 2021 by Jason Contant

Early identification of potential insurance fraud schemes through automation can help prevent scenarios like the towing turf wars in Ontario from spiralling out of control, the CEO and co-founder of FRISS said Wednesday. “I think it is crucial for the

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What would a hybrid workplace even look like?

March 26, 2021 by David Gambrill

Canadian property and casualty insurance professionals would like a more flexible, hybrid workplace, a recent survey shows, but the question for employers now is what such an arrangement might look like. About 87% of the more than 1,150 P&C insurance

News BrokersCommercialInsurersTechnologyTrending

How your business clients feel about Canada’s chances for economic recovery

March 25, 2021 by Adam Malik

The size of your commercial client appears to influence their optimism about the future as Canada’s vaccination program starts to roll out, a trio of recent reports suggests. Bigger commercial clients are feeling a sense of optimism when looking ahead,

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Ontario budget highlights property flood risk

March 25, 2021 by Greg Meckbach

Insurers are applauding the Ontario government for its commitment to improve flood mapping and to provide more money for municipal water infrastructure, measures that the industry hopes will reduce the risk of water damage to insured properties. In a press

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COVID’s impact on insurance fraud

March 25, 2021 by Jason Contant

Fraudsters are taking advantage of anxieties arising from the COVID-19 pandemic to exploit victims in the Canadian P&C insurance space in novel ways, speakers said during a fraud webinar Wednesday. For example, some body shops are charging drivers extra cleaning

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OSFI results: The good, the bad, and the ugly for Canada’s P&C industry

March 25, 2021 by David Gambrill

COVID-19 last year might have been the end of the world as we know it, to riff on a song by R.E.M., but Canada’s P&C insurance industry is doing fine — financially, at least. After a full year of the