Canadian Underwriter

Topic Loss Control

New vehicles at an auto dealership holding lot
News BrokersClaimsCommercial AutoInsurersLoss ControlLoss TrendsPersonal Auto

Can car dealerships manage insurance risks from vehicle thefts?

November 27, 2023 by Philip Porado

Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.

Arrows pointing up symbolizing business growth
News CatastrophesCommercialInsurersLoss ControlPersonal HomeProperty

What carriers can expect for reinsurance renewals

November 22, 2023 by Alyssa DiSabatino

Primary insurance carriers can expect for the most part flat to high single-digit premium increases during Jan. 1, 2024, reinsurance renewals, Matt Wolfe, Aon Canada’s president and CEO of Reinsurance Solutions tells Canadian Underwriter.  It’s a far cry from the

Man hold a light bulb with a strategy icon
News ClaimsClaims Canada ArchiveCommercialInsurersLoss ControlLoss TrendsMergers and AqcuisitionsOperationsTechnology

How the M&A environment will affect carriers’ business models

November 17, 2023 by Jason Contant

Canadian P&C insurance industry carriers and service providers will need to transform their business models to help control claims and operating costs in an M&A environment featuring competing demands for capital, speakers said Thursday at KPMG’s 2023 Insurance Conference in

Person getting hurt while riding an e-scooter
News ClaimsCommercialEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsProperty

Whose insurer pays when e-scooter drivers crash?

November 17, 2023 by Philip Porado

News reports about drivers of stand-up e-scooters injuring pedestrians in several Canadian cities are raising questions about insurance coverage for the vehicles — and how injured pedestrians might recover damages. But what about the e-scooter drivers themselves? Can they recover

Person running away from risk
News BrokersClaimsCommercialInsurersLoss ControlRisk ManagersTrusted Advisor

Why there’s no such thing as ‘bad risk’

November 14, 2023 by Adam Mitchell

New leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The

Hurricane aftermath
News AdjustersBrokersClaimsCommercialEmerging RisksEnvironmentalInsurersLoss ControlLoss Trends

How to tame increasingly ferocious NatCats

November 6, 2023 by David Gambrill

Escalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims

Hurricane Fiona
News B.C.ClaimsInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomePropertyQuebec

Coastal storms: Could U.S. scenario happen here?

November 1, 2023 by Philip Porado

Increasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values

Office worker who has fallen on a staircase
News AlbertaB.C.ClaimsCommercialConstructionEmerging RisksInsurersLegalLiabilityLoss ControlOntarioQuebec

How to build environments that reduce staircase injuries

October 31, 2023 by By Dr. Andrew Huntley and Claire Miller, 30 Forensic Engineering

As research drives new ways to build staircases that can prevent slip-and-falls, Canada’s building codes should be updated accordingly to reflect the safer designs. The importance of code updates is illustrated by falls on stairs, which in Ontario alone led

Ransom note to convey increase of cybercrime using ransomware
News ClaimsCommercialCommercial AutoCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsTechnology

What’s driving rising ransomware attacks

October 30, 2023 by Philip Porado

Ransomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their

Puzzle to convey the concept of risk management.
News Emerging RisksLegalLiabilityLoss ControlRisk ManagersTrusted Advisor

What it’s like to be a public sector risk manager

October 26, 2023 by Alyssa Di Sabatino

No two days are alike for public sector risk managers. One day, their jobs might require predicting risk for a transit facility; the next day, a long-term care home. That’s why it’s crucial for public risk managers to break out

Financial volatility
News CatastrophesClaimsClaims Canada ArchiveCommercialInsurersLoss ControlLoss TrendsProperty

Is it time for a new reinsurer to enter the market?

October 25, 2023 by Jason Contant

Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never

Low angle of a black wrought iron kettle pot that has been knocked over spilling it's gold coins onto the grass, with sun flare and rainbow. Mythology says it is the secret hiding place of an Irish Leprechaun's pot of gold, some even say he is tricky.
News BrokersCyberEducationLoss Control

How brokers can cash in on a $900-billion cyber opportunity

October 12, 2023 by David Gambrill

With the Global Federation of Insurance Associations (GFIA) citing a $900-billion cyber insurance protection gap, Canadian brokers are seeing a huge growth opportunity in cyber, with some predicting cyber insureds will ultimately overtake the proportion of those covered by property