Canadian Underwriter

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How to handle three made-in-COVID client situations

March 8, 2021 by Adam Malik

The COVID-19 pandemic has created a series of unique risk exposures for Canadian policyholders, and industry experts gave a crash course on how they would handle these newly common scenarios. Three made-in-COVID situations presented themselves to clients over the past

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Karen Gavan, Swiss Re board

March 8, 2021 by Jason Contant

Karen Gavan, Swiss Re board of directors and former president, CEO of Economical Insurance To reach a leadership position in the Canadian property and casualty insurance industry, women leadership hopefuls need to develop and hone their financial literacy skills, the

News AlbertaClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal Auto

Why auto rates are increasing despite fewer drivers on the road

March 6, 2021 by Jason Contant

Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by

News AdjustersClaimsInsurersProperty

By how much productivity for restoration firms dropped in the pandemic

March 6, 2021 by Adam Malik

The head of a claims restoration company says it’s reasonable to believe that productivity in his company and the industry as a whole has dropped by nearly 20% due to the global COVID-19 pandemic. That would be on par with

News CatastrophesClaimsClaims Canada ArchiveEmerging RisksInsurersLoss TrendsPersonal HomeProperty

Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

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Is it time to ease up on the video calls?

March 4, 2021 by Adam Malik

New research shows the influx of video calls brought about by the COVID-19 pandemic is tiring people out. “Zoom” has become a verb to describe videoconference meetings, said professor Jeremy Bailenson, founding director of the Stanford Virtual Human Interaction Lab.

News B.C.CatastrophesClaimsInsurers

How (and when) to turn a post-earthquake fire Cat into a kitten

March 3, 2021 by David Gambrill

Huge insurance bills for natural disasters such as fire following earthquake could be substantially reduced by paying for improvements that amount to a fraction of the damage estimates. But timing is everything when recommending how to “build back better,” says

News Commercial AutoInsurersOperationsPersonal Auto

How the pandemic made for better strategic planning

March 3, 2021 by Adam Malik

The COVID-19 pandemic forced one insurance association to change how they typically map out their future. The result ended up being a product they believe is better than something that would have been produced in normal times. For many, planning

News AdjustersClaimsClaims ProfessionalsClaims TechnologyCommercialCommercial AutoInsurersPersonal AutoPersonal HomePropertyTechnology

Lessons learned from ‘the toughest Cat season’

March 2, 2021 by Adam Malik

The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the

News Business InterruptionCatastrophesClaims Canada ArchiveInsurersLegalLoss TrendsProperty

Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute

March 2, 2021 by Greg Meckbach

The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.

News InsurersTechnology

What the future underwriter will look like

March 1, 2021 by David Gambrill

Underwriters of the future are going to look a lot more like technology trailblazers, data pioneers, dealmakers, portfolio optimizers, and risk detectives, according to a new report by Deloitte. “To remain competitive, insurers should accelerate underwriting transformation,” Deloitte states in

News InsurersMergers and Aqcuisitions

Intact looks beyond RSA deal for more M&A

March 1, 2021 by Greg Meckbach

Intact Financial Corp. will probably not be finished acquiring other insurers after Intact absorbs RSA Canada. “We will be ready at some point to take on more transactions in Canada,” Intact CFO Louis Marcotte said during the 22nd Annual Credit