Topic Insurers
Why claims adjusters face a labour force double whammy
December 14, 2022 by Philip PoradoSolving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the…
Wawanesa names new VP of Ontario for P&C operations
December 14, 2022 by David GambrillSusan Williams-Bonet is Wawanesa Mutual Insurance Company’s new vice president of Ontario for the company’s P&C operations. She takes over for Josie Porto, who retires this year following a distinguished 36-year career with Wawanesa. “Together with our broker partners, we…
Does Canada have enough hurricane data for parametric solutions?
December 13, 2022 by Alyssa DiSabatinoWhen it comes to assessing hurricane risk exposure, there’s a data gap between the U.S and Canada, said a panellist in a Canadian Underwriter webinar. “There’s definitely a gap between the U.S. and Canada,” said Carl Bernier, NatCat specialist at…
Are product liability insurers ready to face mass torts?
December 13, 2022 by Philip PoradoClass action lawsuits have long been drivers of social inflation for insurers that provide product liability overage. But now a new legal vehicle, the ‘mass tort,’ looks to be waiting in the wings. Unlike class actions, in which one plaintiff…
What’s the better parametric insurance trigger for Canadian hurricanes?
December 12, 2022 by Alyssa DiSabatinoHurricane risk differs in Canada, which is why parametric insurance triggers that work in the U.S. may not be as effective in Canada, said a panellist in a Canadian Underwriter webinar. Barometric pressure may be a better parametric trigger…
How can you improve cybersecurity? Hire more women
December 9, 2022 by Camelia Radu and Nadia SmailiBy Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM). This article was originally published on The Conversation, an independent and nonprofit source…
How insurance coverage will change as Canadian hurricane risk expands
December 9, 2022 by Alyssa DiSabatinoParametric insurance is a relatively new product in Canada, and thus is not a big buy for commercial clients, but as climate change is expected to cause more hurricane events in Canada, expect this solution to get more popular north…
Canadian P&C insurer reveals plan to go private
December 9, 2022 by David GambrillThe Insurance Company of Prince Edward Island (ICPEI) has proposed deal that would have company directors, executives, certain employees and investors buy a majority stake in the insurance company and take its ownership private. The proposed deal was announced Friday…
The real reasons behind Canada’s softer D&O market
December 9, 2022 by Philip Porado“Expanded insurer appetite and competition in the primary space,” as well as new capacity in excess layers, helps explain a softening of Directors and Officers (D&O) insurance pricing and limits expansions in Canada, says a recent quarterly market insights report…
New president and CEO at Jones Deslauriers
December 8, 2022 by Alyssa DiSabatinoScott Irwin is now president and CEO of Jones Deslauriers, a Navacord broker partner. He succeeds Eric Osbourne, Jones Deslauriers’ president and CEO of 15 years, who has taken on a new role at Navacord. Jones DesLauriers is a…
Bank of Canada hikes key rate by half percentage point, signals possible pause
December 7, 2022 by Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – The Bank of Canada hiked its key interest rate by half a percentage point Wednesday to 4.25 per cent – the highest it’s been since January 2008 – while signalling it may pause its aggressive rate hike cycle.…
Why this insurer saw double the amount of auto claims. Could it happen again?
December 7, 2022 by Alyssa DiSabatinoA major snowfall in southern British Columbia last week led to a 94% increase in claims compared to the week prior, Insurance Corporation of British Columbia (ICBC) reported. And with more snow being forecast today, drivers should prepare for more…