Canadian Underwriter

Topic Insurers

Hand holding a light bulb symbolizing digital innovation
News BrokersCommercialInsurersTechnology

Where digital transformation goes wrong for the P&C industry

July 7, 2022 by Jason Contant

Canada’s P&C insurance industry needs to get back to basics — unmet customer needs — when designing tech-enabled digital strategies and products, speakers said last week during an industry webinar. Too often, carriers or other industry stakeholders get involved in

Concept of Canadian stock market exchange crisis and recession
News InsurersSupply ChainTrending

Canada headed towards ‘moderate’ recession in 2023: RBC economists

July 7, 2022 by Adena Ali - THE CANADIAN PRESS

TORONTO – Canada is headed towards a recession in 2023, but it will be short-lived and not as severe as prior downturns, according to a new report from RBC. RBC economists said Thursday that soaring food and energy prices, rising

A pair of glasses, a small model home, a level tool, a measuring tape, a set of pens and two construction hats sit atop a blueprint of a house on a desk.
News AlbertaB.C.InsurersOntarioPersonal Home

Why brokers should ask their clients about home renos

July 6, 2022 by Alyssa DiSabatino

Canadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes?  Not every

Indemnity agreement on desk with pen and eye glasses.
News BrokersBusiness InterruptionClaimsClaims ProfessionalsCommercialCyberEmerging RisksInsurersLegalLiabilityPropertyRisk ManagersTrusted Advisor

How to advise clients on commercial contract indemnities

July 6, 2022 by Michael Carey

Commercial contracts often contain indemnities, and brokers should be prepared to address issues pertaining to indemnities within those contracts. Some clients may ask what an indemnity is. Simply put, it’s a promise to compensate another person for certain costs and

Conceptual abstract landscape: sea of money and dramatic sky.
News Emerging RisksInsurers

Behind the upcoming hard market in global reinsurance

July 6, 2022 by David Gambrill

Globally, insurance companies’ premiums are on the rise. Inflation and wartime sanctions are cited as two (among other) major factors in why global reinsurers are sliding into a harder market status as of recent July 1, 2022, renewals, according to

A leaking roof in an old office
News AdjustersClaimsCommercialEnvironmentalInsurersLiabilityLoss ControlProperty

Why your client now needs environmental insurance

July 4, 2022 by Jason Contant

Climate change is resulting in larger and non-traditional pollution losses, necessitating the need for environmental insurance to cover possible coverage gaps left by other policies, an environmental insurance expert said recently. Stronger storms coupled with increased land development can lead

Digitally generated modern and minimalist family house/villa in Nature with garage and a terrace.
News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal Home

Why home insurers are more exposed to NatCats after the pandemic

July 4, 2022 by David Gambrill

When the pandemic, remote work and a hot housing market combined to cause more Canadians to buy homes in suburban and rural areas, home insurers may have become more exposed to NatCat losses, data from a recent Aviva study found

Prospector panning for gold in the old west.
News BrokersCommercialCommercial AutoInsurersPersonal AutoPersonal HomeTrusted Advisor

How the pandemic changed broker prospecting for new business

June 30, 2022 by David Gambrill

High workloads during the pandemic had an impact on brokers’ ability to prospect for new business, Canadian Underwriter‘s 2022 National Broker Survey found. The survey asked more than 250 brokers nationwide in February about challenges to the broker distribution channel.

driving car on highway, close up of hands on steering wheel
News InsurersPersonal Auto

What the post-pandemic commute means for auto insurers

June 30, 2022 by David Gambrill

Canadians who relocated to suburban and rural areas to work during the pandemic are driving longer distances upon returning to work, and plan to use their cars for the work commute more often in the future, a new Aviva Canada

A person holds the steering wheel of a car with their left hand while their right hand hovers over the horn
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Distracted driving accelerates post-pandemic

June 29, 2022 by Alyssa DiSabatino

Ninety-eight per cent of Ontario drivers report witnessing unsafe driving behaviours over the past year — a 3% increase from the year previous — and yet only 58% admit to engaging in dangerous driving behaviours themselves, a CAA South Central

Flooded Calgary Stampede grandstand
News CatastrophesEnvironmentalInsurersPersonal Home

Should Canada’s flood insurance program combine NFIP and Flood Re?

June 29, 2022 by Jason Contant

Canada could benefit from a flood protection program combining the features of the U.S. National Flood Insurance Program (NFIP) and U.K.’s Flood Re, says credit rating agency DBRS Morningstar, but that view is not entirely shared by Insurance Bureau of

Fire Debris of Houses in a small town with smoke in sky.
News AdjustersB.C.CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurers

Why it’s taken a year to get Lytton, B.C.’s post-wildfire rebuild underway

June 29, 2022 by David Gambrill

To the naked eye, not much has changed since Lytton, B.C. was razed by a June 30, 2021 wildfire, causing an estimated $100 million in insured damage. Coming up on the fire’s one-year anniversary, debris-removal work has finally begun for