Canadian Underwriter

Topic Loss Trends

Car rental agreement
News BrokersClaimsInsurersLoss TrendsPersonal Auto

Do clients driving rental cars know what’s covered?

May 17, 2024 by Philip Porado

An increase in secondary auto accident claims for drivers using rental cars while awaiting repairs on their main rides is highlighting the need for an important post-accident conversation with clients. Drivers involved in at-fault collisions while using rental cars often

Auto thief attempting to steal a vehicle
News ClaimsClaims Canada ArchiveInsurersLegalLoss TrendsOntarioPersonal AutoSupply Chain

How auto theft claims severity is trending

May 16, 2024 by Jason Contant

Canada’s auto theft crisis appears to be getting worse, with new data from Insurance Bureau of Canada (IBC) showing auto theft claims topping $1 billion for the second year in a row. In 2023, the cost of insurance claims for

Calling insurance when the ceiling starts leaking
News BrokersCatastrophesClaimsLoss Trends

How customer service factors into the claims experience

May 15, 2024 by Jason Contant

Most insurance customers buy a policy and set it aside. What people don’t tend to do is dedicate three hours to reading and understanding that document’s terms, notes new ClaimsPro president Paul Gilbody. “You kind of stick it in a

Empty auto parts warehouse shelves
News AdjustersBrokersClaims ProfessionalsInsurersLoss ControlLoss TrendsPersonal Auto

Two new things keeping auto clients in rental cars

May 13, 2024 by Philip Porado

Shortages of auto repair techs and specialized parts for newer cars are combining to drag out repair times for personal auto clients. That’s causing delays for insurers looking to close out auto accident claims, plus it’s keeping more drivers in

Financial business statistics with bar graph and charts
News ClaimsClaims Canada ArchiveCommercialInsurersLoss TrendsManagementOperationsPersonal AutoPersonal Home

How Intact and BrokerLink performed in 2024 Q1

May 8, 2024 by Jason Contant

Intact Financial Corporation (IFC) subsidiary BrokerLink “remains well on track to achieve its ambition of $5 billion in annual premiums by 2025,” IFC CEO Charles Brindamour said during the insurer’s 2024 Q1 earnings call Wednesday. In 2023, BrokerLink surpassed $3.5

Collapse of a metal barn roof after a snowstorm
News Business InterruptionClaimsCommercialConstructionEnvironmentalLoss ControlLoss TrendsProperty

Reducing the risk of commercial roof collapse

May 7, 2024 by Yannick Roy and Wei Chiet Thong, J.S. Held

Reports of wood-framed roof collapses, ranging from simple agricultural roofs to complex roofs in industrial buildings, are frequent in North America. These collapses often are caused, or contributed to, by controllable factors like lack of maintenance, chemical attacks, moisture attacks,

A fire burning across the lake in Osoyoos, B.C.
News AlbertaB.C.CatastrophesClaimsClaims Canada ArchiveEmerging RisksEnvironmentalLoss TrendsPersonal Home

What will determine the severity of this year’s wildfire season?

May 6, 2024 by Jason Contant

Precipitation in June will likely determine the severity of this year’s wildfire season in western Canada, says Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). Although it may seem like a quiet start to the year

Interior of a city transit bus
News ClaimsCommercialCommercial AutoInsurersLoss ControlLoss Trends

How physics impacts injuries if transit busses crash

May 6, 2024 by Mark Paquette and Brittany Sinclair, 30 Forensic Engineering

When a motor vehicle collision involves a public transit bus, many factors play into reconstructing injuries that may have occurred. And those factors centre around the differences between transit vehicles and conventional vehicles, such as passenger cars or light trucks.

Phone call after fender bender
News BrokersClaimsLoss TrendsPersonal Auto

Hidden consequences of longer car-repair wait times

May 3, 2024 by Philip Porado

Lengthy wait times for auto repairs over the past three years, sparked by supply chain problems and other factors, have cost insurers a bundle, especially if clients have generous allocations for rental cars. Over the past few months, emerging evidence

Calculating financial results
News CatastrophesClaimsClaims Canada ArchiveInsurersLoss TrendsPersonal AutoPersonal Home

2023 investment income saves insurers’ bacon

May 2, 2024 by Jason Contant

A very strong fourth quarter in 2023 turned an ‘average at best’ year into quite a good year for Canada’s P&C insurance companies, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC).  “Reflecting on the

A store closure sign sits outside of the London Drugs Broadway and Vine location in Vancouver. on Monday, April. 29, 2024. London Drugs says it has temporarily closed all of its stores in Western Canada as it grapples with a "cybersecurity incident." THE CANADIAN PRESS/Ethan Cairns
News B.C.ClaimsCommercialCyberEmerging RisksInsurersLoss TrendsTechnology

Retailer London Drugs closes stores in Western Canada due to ‘cybersecurity incident’

April 30, 2024 by Brieanna Charlebois - The Canadian Press

VANCOUVER — Confused shoppers milled around the front of a London Drugs store in downtown Vancouver on Monday, some wondering aloud why they couldn’t access the store to get prescriptions or buy hair dye. A metal gate was blocking them

Bad driver nearly gets into an accident
News AlbertaInsurersLoss ControlLoss TrendsPersonal Auto

Does Alberta’s auto insurance rate cap reward bad drivers?

April 25, 2024 by David Gambrill

Alberta’s new 3.7% cap on auto insurance rate increases for good drivers may wind up hurting the province’s well-mannered motorists more than it helps them, industry sources tell Canadian Underwriter. “Your carrier probably wants to reward you for [being a