Canadian Underwriter

Topic Loss Control

Christchurch cathedral in New Zealand following the 2011 earthquake.
News ClaimsEmerging RisksInsurersLoss ControlLoss TrendsPersonal HomeProperty

What Canadian insurers can learn from a New Zealand earthquake

June 30, 2023 by Philip Porado

Private property and casualty (P&C) insurers can’t be the sole providers of coverage for peak peril because they cannot efficiently assume extreme tail risk. That’s a key takeaway for Canada’s P&C insurers from a catastrophic 2011 earthquake in Christchurch, New

Cargo ships colliding
News ClaimsCommercialLegalLiabilityLoss ControlLoss TrendsTechnology

Who’s at fault when AI’s driving a cargo ship?

June 29, 2023 by Philip Porado

It’s 2035 and a maritime court has convened to determine who’s at fault when a seagoing vessel made an error in passage planning – a safety exercise that maps a voyage from start to finish, including harbour navigation and docking.

Turning off a giant faucet to represent loss control
News BrokersCommercialLoss ControlLoss TrendsSaskatchewan

What’s changing the way commercial brokers view loss control?

June 26, 2023 by David Gambrill

It’s possible the pandemic, combined with the P&C industry’s ongoing hard market, may have permanently altered how insurers assess their risk appetites. And brokers wise to this shift have adjusted their approach to advising clients accordingly. Given that insurers are

Industrial building destroyed by a hurricane, NatCat
News ClaimsClaims ProfessionalsClaims TechnologyCommercialCommercial AutoConstructionHRInsurersLoss ControlLoss TrendsPersonal AutoPersonal HomeProperty

How trade agreements could change claims adjusting in Canada

June 20, 2023 by Alyssa Di Sabatino

When a NatCat occurs in Canada, it’s common for U.S. adjusters to be on the scene — sometimes before Canadian adjusters, who are bound by provincial licensing restrictions. And while processes for getting either country’s adjusters on the scene are

Butterfly emerging from a cocoon to represent evolution in business models for insurance brokers
News BrokersCommercialEmerging RisksLoss ControlLoss TrendsOperationsRisk Managers

How commercial brokers have evolved into holistic risk advisors

June 20, 2023 by David Gambrill

With insurance underwriters now voicing preference for ‘best-in-class’ commercial risks, it’s fallen to brokers to educate their clients about how to reduce their losses. And that means commercial brokers are becoming more like holistic risk advisors, making recommendations to their

Businessman working and using tablet
News HRInsurersLoss ControlLoss TrendsManagementManitobaOperationsPersonal AutoTechnology

Insurer requests no change in overall auto rates

June 19, 2023 by Jason Contant

Despite cost overruns related to a new digital platform, Manitoba’s public auto insurer is requesting no change in the overall rates for the 2024/25 insurance year. If the province’s Public Utilities Board approves Manitoba Public Insurance’s (MPI) general rate application,

Inflation affects small business clients
News ClaimsClaims Canada ArchiveCommercialConstructionInsurersLoss ControlLoss TrendsPropertySupply Chain

How inflation is affecting small business owners and carriers

June 16, 2023 by Jason Contant

Although inflation cooled to 4.4% in April from its high of 8.1% in June 2022, it’s still affecting small business owners and insurers, an executive at Hartford Steam Boiler told Canadian Underwriter. From a carrier perspective, claims costs are increasing

Water leak sensor alert
News ClaimsClaims Canada ArchiveClaims TechnologyCommercialInsurersLoss ControlPropertyTechnology

How carriers get real-time info on property (and other) risk exposures

June 15, 2023 by Jason Contant

Carriers in the small business space are increasingly turning to technology to understand exposure changes and help insureds manage their own risk, an expert said recently. By relying on things like sensor technology, carriers can get real-time information on changes

Melting ice cream to signify a softening market for commercial insurance
News BrokersCommercialEmerging RisksInsurersLoss ControlLoss TrendsTrusted Advisor

Is market segmentation helping to soften pricing?

June 14, 2023 by David Gambrill

A softening, but segmented, insurance market is allowing commercial lines brokers to leave some aspects of the years-long hard market behind. Improved pricing models are one key ingredient in the ‘stability’ now seen in commercial lines, brokers observed. Carriers are

Toronto Ontario, Canada- June 26th, 2022: Shoppers Drug Mart employees marching with signs during Toronto’s annual Pride parade.
News BrokersClaimsCommercialEmerging RisksInsurersLiabilityLoss ControlOntarioTrending

How Pride Toronto got swept up in entertainment line’s hard market

June 13, 2023 by Alyssa DiSabatino

Pride Toronto’s executive director says the organization has seen a 300% increase in its insurance premiums ahead of this month’s parade and festival programming. This trend of higher premiums for public events is not unique to Pride Toronto; organizers of large

Stick shift to represent shifting focus
News BrokersCommercialLoss ControlLoss TrendsOperationsRisk Managers

Why the hard market and COVID-19 shifted brokers’ focus

June 9, 2023 by David Gambrill

Commercial lines in Canada have changed in the aftermath of the pandemic. These days the monolithic ‘hard market’ has evolved into multiple markets differentiated by segmented pricing and best-in-class loss-control measures. And the commercial broker’s role has changed accordingly. After

Wildfires releasing CO2 emissions and other greenhouse gases
News CatastrophesClaimsEnvironmentalLoss ControlPersonal HomeQuebec

More evacuations in Quebec as record breaking fires continue to burn

June 8, 2023 by Sidhartha Banerjee and Jacob Serebrin

MONTREAL — Quebec’s wildfire season, which has forced thousands from their homes and left other communities on high alert, is the worst on record, officials said Wednesday. Premier Francois Legault told reporters in Quebec City that the areas in the