Canadian Underwriter

Topic Loss Control

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Why the D&O market will probably get harder

December 15, 2020 by Greg Meckbach

Data breaches and the impact of COVID-19 on a company’s financial performance are among the “megatrends” affecting directors’ and officers’ liability claims, Allianz Global Corporate & Specialty warned in a report released Dec. 15. “Outside the U.S., securities class actions

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The show must go on

December 11, 2020 by Scott Carroll, Executive Vice President, Program Director, Take1 Insurance

The new COVID landscape means looking for alternative ways to mitigate claims risk at live events

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Undisputed Neutrality

December 9, 2020 by Adam Malik, Managing Editor

In a world where insurers are amalgamating claims service offerings, third-party forensic engineers can bring to the table a neutral, unbiased perspective that is void of any potential for a conflict of interest, says Chris Giffin, chief executive officer of Haag Canada.

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What four home insurers told the auditor general about illegal electrical work

December 8, 2020 by Greg Meckbach

Some Ontario homeowners could collect insurance money on property claims even if the damage was caused by illegal electrical work, the auditor general suggests in her report released Monday. Staff with the province’s Office of the Auditor General contacted four

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IBC reveals the latest trends in auto theft

December 8, 2020 by Jason Contant

Electronic auto theft, high-end vehicles stolen for shipment overseas, and street racing are three emerging trends coming out of Insurance Bureau of Canada’s (IBC) list of Top 10 stolen vehicles in 2020. Electronic auto theft is on the rise across

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This customized vehicle replacement coverage is headed for the junk yard

December 8, 2020 by Greg Meckbach

This is no April Fool’s joke. TD Insurance Group plans to stop offering its non-standard five-year vehicle replacement coverage in Nova Scotia as of Apr. 1, 2021. In 2019, the Nova Scotia Utility Review Board approved TD’s application to offer

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How Ottawa is trying to lower earthquake related property losses

December 7, 2020 by Greg Meckbach

Natural Resources Canada is hoping to help insurers cut their loss costs with a yet-to-be released earthquake early warning system. The warning system could provide seconds to tens of seconds of warning before a location is affected by strong shaking,

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Wildfire damage is not like a Godzilla attack. Why that matters to Cat modellers

December 7, 2020 by Greg Meckbach

A client’s structure can remain standing after a wildfire, even when other buildings in the same neighbourhood burn down, because dozens of factors affect a property’s risk, experts said Thursday during a webinar. “The interesting thing about wildfire is [that]

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Underwriting long term care: Transforming liability into opportunity

December 4, 2020 by David Gambrill

With property and casualty insurance carriers reportedly exiting the long-term care (LTC) class of business following a spate of class-action lawsuits related to COVID-19 deaths in nursing homes, insurance underwriters may be interested to know about a new technology in

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OSFI releases new (and softer) proposed rule on high-limit policies

December 3, 2020 by David Gambrill

Canada’s solvency regulator has come out with a softer version of its proposed rule regarding the property and casualty insurance industry’s issuance of high-limit policies. The new version is in response to the industry’s previous concerns about the massive $21-billion

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Big Moves: New market entrant in Canada launches with a familiar face

December 3, 2020 by Canadian Underwriter Staff

Haag Global has picked the former CEO of Giffin Koerth, now known as 30 Forensic Engineering, as its leader

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Investors increasingly asking about insurers’ environmental practices: CFOs

December 2, 2020 by Jason Contant

Investors are increasingly asking insurers about environmental, social and corporate governance (ESG) practices and how they are being managed, Intact Financial Corporation’s senior vice president and chief financial officer, Louis Marcotte, said recently. “In some cases, when we meet investors,