Canadian Underwriter

Topic Insurers

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News BrokersCommercial AutoInsurersPersonal Auto

Consumers increasingly concerned with EV insurance

July 28, 2022 by Alyssa DiSabatino

Canadians are becoming increasingly interested in getting an electric vehicle (EV) for their next purchase on one hand, but consumers also seem concerned about the cost of insuring electric vehicles, according to data from rate comparison site My Choice.  Seventy-seven per cent

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News BrokersCommercialEmerging RisksInsurersRisk Managers

Where to find recession-proof clients to help grow your business

July 28, 2022 by David Gambrill

Global recession can not only change the way insurance does business, but it also may change the way your clients do business – which may lead to the next big recession-proof opportunities for insurance sales growth. Economies in recession don’t

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News BrokersCatastrophesClaimsCommercialCommercial AutoConstructionCyberInsurersLoss ControlPersonal AutoPersonal HomeProperty

P&C industry’s 2021 results: A one-hit wonder?

July 28, 2022 by Glenn McGillivray

Last year was generally the most favourable for Canada’s insurers in a while – since 2006 as a matter of fact – with the industry’s return on equity (ROE) coming in at a solid 17.2% (against 11.2% in 2020). ROE

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News BrokersCommercialCommercial AutoConstructionCyberHRInsurersManagementMergers and AqcuisitionsOperationsPersonal AutoPersonal HomeProperty

Is specialization the best route to broker independence?

July 27, 2022 by Jason Contant

A bevy of challenges, including M&A frenzy, rapidly evolving technology, automation and directs, has spurred some independent brokerages to focus on specialization. And some are even divesting of personal lines. “From a client perspective, it’s great to have a broker

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News ClaimsCyberInsurers

Why Marsh is optimistic about the cyber market

July 27, 2022 by Alyssa DiSabatino

Global brokerage Marsh is cautiously optimistic cyber’s hard market will eventually stabilize and insurers will soon be able to reward clients who have strong cyber controls with lower increases. “Market conditions are expected to remain challenging for the foreseeable future

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News CommercialInsurersLegalLiability

Don’t forget to serve, even if the insurer already knows about the lawsuit

July 26, 2022 by David Gambrill

A claimant in a product liability case must still go through the formal process of serving notice in China of intent to sue a Chinese manufacturer, even if the defendant manufacturer was aware of the claim since 2019, had a

Two drivers argue in front of a silver car which crashed into the back of a red car
News BrokersCommercial AutoInsurersPersonal AutoRisk Managers

Fast and furious: Which of your clients are more likely to road rage?

July 26, 2022 by Alyssa DiSabatino

Men and young people aged 18-34 are more likely than women and those aged 55+ to engage in road rage behaviours, finds a recent Ratesdotca survey.   Although men and women claim to engage in road rage equally (51% respectively), men

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News AlbertaB.C.BrokersEnvironmentalInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.QuebecSaskatchewanYukon

Will this week’s weather events result in Cat damages?

July 25, 2022 by Alyssa DiSabatino

While Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s

Man getting into a rental car after a collision claim
News AlbertaClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebecSupply Chain

The factors driving increased car rental times in Canada

July 25, 2022 by Jason Contant

Length of rental (LOR) for collision replacement-related rentals in Canada jumped nearly six days year-over-year, driven in part by ever-changing parts availabilities and repair backlogs, said car rental agency Enterprise Rent-A-Car. The overall Canadian LOR was 16 days in 2022

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News BrokersHRInsurersLicensingManagementMergers and AqcuisitionsTrusted Advisor

Does it matter how brokers define independence?

July 25, 2022 by Jason Contant

What’s the best way for a P&C broker to maintain its independence? Depends who you ask. Back in April, Insurance Brokers Association of Ontario president Joseph Carnevale told Canadian Underwriter that independence is linked to the broker value proposition to

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News Business InterruptionClaimsCommercialEmerging RisksEnvironmentalInsurers

What Europe’s record heat means for insurers

July 22, 2022 by Philip Porado

Insurers covering businesses that depend on goods or industrial inputs from Europe should keep an eye on potential loss scenarios emerging from the continent’s crippling heat wave. “High temperatures harmed tarmacs of motorways in Great Britain and Germany in the

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News BrokersCommercial AutoInsurersOntarioPersonal Auto

New program aims to bring high-risk drivers back to standard market

July 22, 2022 by Alyssa DiSabatino

Facility Association (FA) is launching a video-enabled telematics program for Ontario taxi drivers, and it may see participants earn their way back to the standard market.  The program, effective Dec. 1, 2022, is meant to help drivers improve their driving