Adequate coverage on a no-fault basis for catastrophically injured accident victims is probably the most value that personal injury auto insurance should deliver, says David Marshall, a financial management consultant who has served as a senior advisor to the Government…
One way homeowners and insurers can reduce annual hail damage is to use impact-resistant asphalt shingle roofs instead of standard shingles, finds a new report. A new Institute for Catastrophic Loss Reduction benefit-cost analysis report shows annual hail…
Property and casualty insurance carriers and brokers have embraced the Canadian Association of Managing General Agents’ (CAMGA) self-regulatory regime, the association’s managing director tells Canadian Underwriter. Late last year, CAMGA’s board and membership approved and adopted the undertaking as a…
The federal government’s easing of COVID-19 travel restrictions will generally make it easier for travellers to get insurance coverage, since some providers weren’t in the position to offer coverage when travel advisors were at a higher level, travel insurers tell…
The P&C industry is struggling to find talent to fill the leadership skills gap, but a new program designed to get prospective executives to hit the ground running may be able to help with that. The New Leader Integration program,…
Editor’s Note: This story has been updated to include comment from Insurance Bureau of Canada Faulty design features of private-sector auto insurance and excessive government regulation are the main reasons to blame for challenges facing the private-sector auto markets,…
Clients needing war, political violence or terrorism insurance may need to seek bespoke covers, noted a recent Ukraine technical update from claims manager Crawford. “The purpose of a political violence policy is to dovetail with the commercial property policy and…
The Calgary Flames have filed a $125-million lawsuit against its insurers to enforce the terms of an all risks insurance policy for “massive losses” due to the COVID-19 pandemic. The named defendants in the statement of claim filed in…
MGAs and insurers continue to report increased severity and frequency of cyber claims. In fact, in-house data shows cyber claims have been increasing for years, said Lindsey Nelson, cyber development leader at CFC Underwriting. Simultaneously, the take-up of cyber insurance…
Saskatchewan Government Insurance (SGI) saved approximately $6 million in 2021 from “hundreds of people” attempting to make fraudulent claims, the public insurer reported last week. “SGI’s Special Investigations Unit (SIU) investigates wild and wacky insurance claims, many of which turn…
The hard market may be the biggest challenge facing the broker channel, according to Canadian Underwriter‘s 2022 National Broker Survey, but statistics show it’s vastly improved the P&C industry’s financial health. Canada’s property and casualty insurance industry reported an underwriting…
Editor’s Note: This story has been updated to include information from Insurance Bureau of Canada. The Liberal party’s campaign promise to include a higher surtax on the financial sector is one step closer to being implemented, which means higher taxes…