Canadian Underwriter

Topic Insurers

Aerial shot of four rows of cars of various colours lined up in darkly lit parking lot
News ClaimsCommercial AutoInsurersPersonal Auto

Are car rental shortages affecting loss of use endorsements?

August 5, 2022 by Alyssa DiSabatino

The car rental shortage isn’t only impeding on Canadians’ travel plans—it could also affect policyholders’ loss of use endorsements. Luckily, there are alternative options for insurers to reimburse customers on their loss of use policies, says one of Canada’s largest

New car inventory in parking lot
News InsurersPersonal AutoSupply Chain

July auto sales in Canada down 16% from last year as shortages persist

August 5, 2022 by The Canadian Press

TORONTO – DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available vehicles. The consultancy estimates 130,480 new light vehicles sold in the month as

Front part of a damaged car
News ClaimsInsurersLegalOperationsPersonal Auto

Aviva’s Project Bumper: Car repairers lose challenge to FSRA’s cease and desist order

August 5, 2022 by David Gambrill

Correction and Clarification Notice: The following article has been updated to correct errors contained in the originally published version of this story. First and foremost, FSCO’s proposed cease and desist order was not in effect at the time the Wardas

Family home with car in the driveway
News AlbertaB.C.BrokersInsurersLoss TrendsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeQuebecSaskatchewan

Is the personal lines hard market abating?

August 4, 2022 by Jason Contant

Personal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted

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News InsurersLoss ControlOperations

Was 2021 a high-water mark for P&C industry returns?

August 4, 2022 by Glenn McGillivray

Despite turmoil from the ongoing COVID-19 pandemic that affected everything from the need to work remotely, auto premium rebates and the handling of Cat claims, to the availability and price of building materials and labour, Canada’s P&C insurers still managed

Burned out buildings in Lytton, B.C.
News AdjustersAlbertaB.C.ClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalInsurersLoss ControlLoss TrendsOntarioPersonal AutoPersonal HomeProperty

2021 Cat frequency ties 2008 for second place

August 3, 2022 by Glenn McGillivray

Severe weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,

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News CommercialCommercial AutoInsurers

Why pressure could mount for large commercial insurers

August 3, 2022 by Alyssa DiSabatino

A more assertive regulatory landscape may prove concerning for large commercial insurers (LCI) in the near future, especially those with multinational clients, a survey from KPMG suggested. Evolving client and broker expectations, economic uncertainty, technological evolution and environmental, social and

Group portrait of multiracial business persons with protective face masks standing together in the office.
News AdjustersBrokersClaims ProfessionalsEmerging RisksInsurersRisk Managers

Where Canada’s P&C insurance professionals are at with COVID

August 2, 2022 by David Gambrill

When deciding whether to attend industry events in-person, just over half of Canada’s risk professionals are casting a wary eye on COVID-19, while about one in three are ready to move on, according to responses received in a Canadian Underwriter

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News BrokersClaimsCommercial AutoInsurersPersonal Auto

Intact’s game plan in personal auto

August 2, 2022 by Alyssa DiSabatino

Intact’s personal auto insurance premiums grew by 28% in 2022 Q2, but the company says its auto game plan is “not only pricing-driven,” the CEO reported during Intact’s recent earnings call.  “Equally important is how we manage claims and our

Balloon about to burst
News ClaimsEmerging RisksInsurers

Inflation and higher interest rates may alter P&C market

August 2, 2022 by Glenn McGillivray

A one-two punch delivered by inflation and the resulting interest-rate increases could have several impacts on Canada’s P&C sector, including on claims costs, expense ratios, investment returns and the continued viability of the current hard market. Nearly all major industrialized

News BrokersInsurersPersonal AutoPersonal Home

Intact provides update on RSA integration

July 29, 2022 by Alyssa DiSabatino

A year after RSA Insurance Group plc was acquired by Intact Financial Corporation, nearly all personal lines broker policies, and commercial lines small business and fleet policies in Canada, have been converted to Intact systems, the insurer reported. “I’m pleased

A new exhaust system with a catalytic converter
News ClaimsInsurersLegalLoss TrendsManitobaPersonal Auto

Catalytic converter theft: a growing problem for auto insurers

July 29, 2022 by Jason Contant

Manitoba Public Insurance (MPI) is warning consumers about the need to protect their vehicles from catalytic converter theft as reports of this type of crime have significantly increased in recent months. According to MPI claims data, the public insurer has