Canadian Underwriter

Topic Loss Control

Women in an underground parking lot
News B.C.InsurersLoss ControlManitobaOntarioPersonal AutoSaskatchewan

How many of your clients asked their auto insurer for premium relief?

June 22, 2021 by Jason Contant

Many Canadians have been driving far less during the COVID-19 pandemic, but more than half of them did not reach out to their auto insurer to inquire about discounts or changes to their policies, according to a new survey from

Celebration at work
News EducationInsurersLoss ControlRisk Managers

How to convince your clients that buying insurance isn’t a waste of money 

June 15, 2021 by Jason Contant

One of the biggest challenges for the insurance industry is convincing policyholders that they haven’t wasted their money if they constantly pay premiums but don’t have a claim.  To overcome this challenge, insurers should help policyholders celebrate the fact that

News CommercialEmerging RisksInsurersLoss ControlRisk Managers

How the hard market is changing commercial underwriting

June 9, 2021 by Greg Meckbach

The ongoing hard market means underwriters are asking commercial clients more in-depth questions about their organizations’ risk management practices and culture, suggests the new CEO of the Canadian Universities Reciprocal Insurance Exchange. “We are very much in a hard market,”

News InsurersLoss Control

Bank of Canada keeps key interest rate target on hold

June 9, 2021 by The Canadian Press

OTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent. The rate has been on hold at its rock-bottom level since the onset of the pandemic last year and the central

News AdjustersClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEnvironmentalLegalLoss ControlNova ScotiaPropertyRisk Managers

In pollution claim, ‘sudden’ could mean several months, court finds

June 8, 2021 by Greg Meckbach

Insurance coverage for a “sudden and accidental” release of diesel fuel can include a discharge that continued over several months, the Nova Scotia Court of Appeal has ruled in a commercial coverage dispute. As a result of Zurich Insurance Company

News BrokersCatastrophesClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsPersonal HomeProperty

Why IBAC foresees a national flood insurance program

April 28, 2021 by Greg Meckbach

The recently-released federal budget gives brokers reason to be optimistic that Canada will eventually have a national flood insurance program for homeowners, the head of the Insurance Brokers Association of Canada suggests. “The commitment from the federal government is clear

News AdjustersClaimsClaims Canada ArchiveClaims TechnologyInsurersLegalLoss ControlLoss TrendsPersonal HomeProperty

What courts say about vacancy exclusion when elderly homeowner client moves to a care home

April 27, 2021 by Greg Meckbach

An elderly homeowner’s health takes a turn for the worse, necessitating a move into a care home. The client still owns her original home, which suffers water damage. The insurer denies the claim on the grounds that the property is

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsPersonal HomeProperty

Insurers seek federal grants for homeowners to improve basement flood protection

April 21, 2021 by Greg Meckbach

The industry is pushing to make federal grants available for Canadian homeowners to reduce basement flood risk. In the fall of 2020, the federal government announced its Greener Homes initiative. When the program rolls out, the plan is to provide

News ClaimsClaims Canada ArchiveClaims ProfessionalsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsPersonal HomeProperty

How the feds’ budget benefits the P&C industry

April 20, 2021 by Greg Meckbach

Insurers are hoping it will be easier for homeowners to borrow money to raise their structures in areas at risk of flood or to replace roofs in wildfire-prone regions as a result of the federal budget announced Monday. In her

News ClaimsClaims Canada ArchiveCommercialLoss ControlLoss Trends

Pandemic will cost the global P&C industry more than $250 billion: Lloyd’s

April 7, 2021 by Greg Meckbach

The pandemic will cost the global insurance industry at least US$200 billion, Lloyd’s predicts. “We estimate that the global insurance industry will pay around US$203 billion in claims and due to a reduction in asset values as a result of

News BrokersClaimsEducationInsurersLoss ControlLoss TrendsPersonal Auto

Brokers: pay attention to these insurance fraud ‘red flags’

April 7, 2021 by Jason Contant

If your client is trying to rush the insurance buying process or is not concerned about price, that’s often a red flag that the transaction is fraudulent, RSA told Canadian Underwriter recently. “We know the majority of customers aren’t looking

News AlbertaCatastrophesEnvironmentalLoss ControlPersonal Home

Review hears closing arguments into proposed reservoir to protect Calgary from floods

April 7, 2021 by Colette Derworiz - THE CANADIAN PRESS

EDMONTON – A lawyer for Alberta Transportation says there’s a serious and urgent need for a proposed reservoir that could protect Calgary from future flooding. Ron Kruhlak made the comment during his closing argument Tuesday before the Natural Resources Conservation