Canadian Underwriter

Topic Insurers

Container ship, heavily loaded, at sea.
News AdjustersBusiness InterruptionCatastrophesClaimsClaims ProfessionalsClaims TechnologyCommercialCyberEmerging RisksInsurersLoss ControlLoss TrendsSupply Chain

War and other factors loom over shipping sector: report

May 27, 2022 by Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

sleeping woman in autonomous car. Driverless car. Self-Driving car. UGV (unmanned ground vehicle).
News ClaimsInsurersLegalLiabilityPersonal Auto

Regulations for insuring self-driving cars required sooner rather than later, lawyers say

May 27, 2022 by David Gambrill

Canada is not ready to insure even partially automated vehicles (AVs), but the move towards fully-automated vehicles could be here by as early as 2026, warn lawyers at Borden Ladner Gervais LLP. Provincial legislatures will therefore need to update their

Angry woman driving a car.
News ClaimsInsurersLegalPersonal Auto

Fume all you want, don’t hit erratic drivers in front of you

May 26, 2022 by David Gambrill

No matter how much a driver might fume about the slow driver ahead, the driver behind him is still responsible for maintaining a safe distance to avoid a collision — even if the slow driver tries to block the driver

A life preserver floating in the water with a mini earth resting inside of it.
News EnvironmentalInsurersLegal

OSFI posts new guidance on climate risk stress testing

May 26, 2022 by Alyssa DiSabatino

The Office of the Superintendent of Financial Institution’s (OSFI) newly released draft of Climate Risk Management may mean P&C insurers will have to include climate scenario analysis as a part of their stress testing — and it may require insurers to

Mechanic working on the underside of a vehicle
News AdjustersB.C.ClaimsClaims ProfessionalsEnvironmentalInsurersLoss ControlPersonal Auto

Auto insurance: How to handle acid spill claims

May 26, 2022 by Jason Contant

Insurers would be well-advised to have experts and claim-handling protocols on hand to identify unique claim situations such as the two sulphuric acid spills in Trail, B.C. several years ago, two forensic engineers say. On Apr. 10 and May 23,

London Bradley, president and CEO of Allstate Canada
News HRInsurersOperations

Top leadership changes at Allstate Canada

May 25, 2022 by Jason Contant

Allstate Insurance Company of Canada has announced London Bradley is its new president and CEO. Bradley assumed the role of president and CEO of Allstate Canada, Pembridge Insurance Company, Pafco Insurance Company and Ivantage Insurance Brokers Inc. (collectively ACG), effective

A twister is pictured at the end of a country road. The sky is dark and storming.
News AdjustersCatastrophesClaimsEnvironmentalInsurersOntarioQuebec

Was derecho storm damage caused by climate change?

May 25, 2022 by Alyssa DiSabatino

The Long Weekend derecho storm in Ontario and Quebec, which spawned a tornado in Uxbridge, Ont., and resulted in over 1,000 kilometers of damage, is “very difficult” to credit as a climate change event, even though the industry is seeing

Calculator and sports car on a white background
News InsurersOntarioPersonal Auto

How low can Ontario auto insurance rates be slashed?

May 24, 2022 by Jason Contant

The Ontario NDP’s proposal to lower auto insurance rates by 40% may be a little high, but a 25% to 30% cut in total premiums is possible, says financial management consultant David Marshall. In its platform released before the upcoming

News CommercialInsurersPersonal Auto

The line that drove Aviva Canada’s 2022 Q1 premium growth

May 20, 2022 by David Gambrill

Commercial lines premiums at Aviva Canada grew by 17% in 2022 Q1 (13% at constant currency), according to the company’s quarterly financial results. “Sixty per cent of the growth overall [in commercial lines] is coming from rate and about 40%

Commercial building being rehabilitated
News AdjustersClaimsClaims ProfessionalsClaims TechnologyCommercialConstructionInsurersSupply Chain

Brokers beware: High inflation may catch up to claims valuation software

May 20, 2022 by Philip Porado

Valuation models in software systems used by insurers to calculate replacement and restoration costs for commercial structures must be checked more often when inflation’s running high. That’s because costs for labour, lumber, drywall, concrete and other construction materials can jump

Shot of a businesswoman standing inside a glass building with a reflection of the city in the background
News HRInsurersSaskatchewan

SGI announces first woman president and CEO

May 19, 2022 by Alyssa DiSabatino

Penny McCune will become the first woman to serve as president and CEO of Saskatchewan Government Insurance (SGI), effective June 1.   She succeeds former president and CEO Andrew Cartmell, who retired on April 4, 2022, after a 12-year tenure

Tow Truck Towing A Vehicle On A Two Lane Highway
News ClaimsInsurersLegalOntarioPersonal Auto

Tow truck driver granted “absolute discharge” for his role in staged collision

May 19, 2022 by David Gambrill

Ontario’s Court for Appeal has given an “absolute discharge” to a tow truck driver who pleaded guilty to fraud under $5,000 – and served a six-month conditional sentence – for his role in a staged collision that cost two insurers