Canadian Underwriter

Topic Insurers

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News BrokersClaimsEmerging RisksInsurersLoss TrendsSupply Chain

Why extended hard market should be easier to explain to consumers

August 11, 2022 by David Gambrill

Consumers should be able to relate to inflation’s impact on goods and services — and hence, the impact on insurers’ claims costs — making it easier for brokers to explain the continuation of the P&C industry’s hard market cycle after

Three wooden blocks stacked on one another, each with the words "equity," "diversity," "inclusion" on them on after another.
News HRInsurers

How P&C companies can improve their DEI outlooks

August 11, 2022 by Alyssa DiSabatino

Although many in the industry understand the value of diversity, equity and inclusion (DEI), companies that aren’t sold on the value proposition may nevertheless benefit from viewing DEI as risk management, suggests The Canadian Association of Black Insurance Professionals (CABIP).

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News Insurers

Do flight delays boost travel insurance purchases?

August 11, 2022 by Canadian Underwriter Staff

With travel demand on the rise in the wake of easing COVID-19 restrictions, a larger percentage of Canadians are opting for overseas journeys. The number of Canadian residents returning by air from abroad at kiosk-equipped airports totalled 901,300 in June

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News AlbertaB.C.ClaimsInsurersPersonal HomeRisk Managers

Condo insurance: Is market stabilization fleeting?

August 11, 2022 by Jason Contant

Canada’s condo insurance market appears to have stabilized but the industry shouldn’t get lulled into the feeling that reforms are no longer needed, said Aaron Sutherland, the vice president of Insurance Bureau of Canada’s (IBC) Pacific region. Over the past

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News ClaimsClaims Canada ArchiveClaims ProfessionalsInsurersPersonal AutoSupply Chain

Where Aviva thinks insurers are feeling inflation’s impact most acutely

August 10, 2022 by David Gambrill

Inflation is wreaking havoc in all major lines of P&C insurance, but its effects seem to be most acute in auto insurance, particularly auto physical damage, reports Aviva Canada CEO Jason Storah. “The most acute impact we’ve seen so far

News B.C.BrokersInsurersMergers and AqcuisitionsOntario

Navacord makes its largest deal of the year

August 10, 2022 by Alyssa DiSabatino

Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022.   Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock,

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News CommercialCyberInsurersLoss ControlTechnology

Do your clients have enough (or any) coverage for ransomware attacks?

August 10, 2022 by Jason Contant

Businesses in Canada and the United States are increasingly concerned about how they will pay ransomware demands and more than half would like governments to cover damages when future attacks are linked to other nation states, according to a new

Piggy bank textured with Canadian flag isolated on white background.
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Ontario re-ignites commitment to auto insurance reform

August 10, 2022 by Alyssa DiSabatino

The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.  The budget

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News Commercial AutoInsurersPersonal Auto

OSFI’s capital guidelines include new 2.5% charge for risk-sharing pools

August 9, 2022 by David Gambrill

Canada’s federal solvency regulator has released its final capital guidelines for the P&C insurance sector, and one new wrinkle includes a fresh approach to handle the provincial risk-sharing pools administered by Facility Association — a new 2.5% capital charge. The

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News BrokersCommercialInsurersPersonal AutoPersonal Home

Why some small business owners don’t have insurance

August 9, 2022 by Alyssa DiSabatino

Almost 40% of small business owners say they don’t have a business insurance policy, and another 25% say they don’t think they need it, finds a recent survey of 222 small business owners and self-employed professionals in Canada.   The

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News AdjustersBrokersCatastrophesClaimsClaims ProfessionalsCommercialInsurersNewfoundland & LabradorPersonal Home

Newfoundland’s largest wildfire in 60 years: what the P&C industry needs to know

August 8, 2022 by Alyssa DiSabatino

A long-burning forest fire in Newfoundland has charred over 10,800 hectares, but one claims professional says they’ve yet to see any claims come through, since the affected areas are not densely populated.  The fire has been burning for close to

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News BrokersClaimsCommercialCommercial AutoConstructionCyberEmerging RisksInsurersLoss ControlLoss TrendsPersonal AutoPersonal HomeProperty

Inflation creates opportunities for brokers to revisit risks with clients

August 8, 2022 by Philip Porado

Recent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada