Canadian Underwriter

Topic Loss Trends

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Claims adjusters react to B.C. flooding

December 6, 2021 by Greg Meckbach

It’s too early to tell how much the recent “atmospheric river” in British Columbia will cost the industry, but independent adjusters are observing widespread damage. Environment Canada lifted weather alerts for British Columbia on Thursday as storm conditions eased, floodwaters

News B.C.CatastrophesClaimsClaims Canada ArchiveLoss TrendsOperationsRisk Managers

CN looks to reopen tracks in southern B.C. this weekend after second network shutdown

December 3, 2021 by THE CANADIAN PRESS

MONTREAL – Canadian National Railway Co. says it aims to reopen its network in southern British Columbia this weekend after another bout of rain and wind prompted a second shutdown. CN said Friday that engineers and construction crews continue to

News ClaimsInsurersLoss TrendsPersonal AutoSaskatchewan

Saskatchewan spotlights steep distracted-driving fines

December 2, 2021 by Canadian Underwriter Staff

Five hundred and eighty dollars. And … four demerit points. That’s how much a first offence for using a cell phone while behind the wheel will cost a Saskatchewan driver, Saskatchewan Government Insurance (SGI) said as part of an October

News B.C.CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEmerging RisksEnvironmentalLoss TrendsPersonal HomeProperty

Can we blame climate change for B.C. ‘atmospheric river?’

December 2, 2021 by Greg Meckbach

We can’t say for sure that climate change has caused the heavy rainfall and severe floods and landslides currently affecting British Columbia, but global warming is making disasters like this more likely, a Swiss Re speaker suggested Thursday. “Warmer air

News B.C.CatastrophesClaimsClaims Canada ArchiveLoss TrendsPersonal HomePropertyRisk Managers

More flood warnings, watches issued in B.C. as province braces for third rainstorm

November 29, 2021 by THE CANADIAN PRESS

VANCOUVER – Flood warnings are posted for a section of British Columbia’s southern Interior and flood watches or high water advisories cover large parts of the province, as it deals with the consequences of a second major rainstorm in as

News ClaimsLegalLoss TrendsPersonal Auto

Canada’s insurers could face higher costs from distracted driving

November 26, 2021 by Canadian Underwriter Staff

Costs to Canadian insurance companies from accidents and injuries caused by distracted driving could reach $159 million by 2030, according to an analysis from financial products comparison site Hellosafe.ca. The analysis explored two scenarios, an optimistic 2% annual increase in

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsLoss TrendsNewfoundland & LabradorProperty

Prime minister approves request for military help as Newfoundland deals with flooding

November 26, 2021 by THE CANADIAN PRESS

CHANNEL-PORT AUX BASQUES, N.L. – Prime Minister Justin Trudeau has approved a request for military assistance for southwestern Newfoundland, where road washouts from a punishing rainstorm have left the region cut off from the rest of the province. Trudeau issued

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Canadian travel insurance quotes surge year-over-year

November 25, 2021 by Jason Contant

Travel insurance quotes have surged nearly 300% year-over-year as pandemic restrictions ease and Canadians are eager to travel again, according to a new report from rate comparison site RATESDOTCA. The rate aggregator analyzed data from thousands of quotes from its

News InsurersLoss TrendsManitobaPersonal AutoTechnology

How UBI could empower your client

November 19, 2021 by Jason Contant

Usage-based insurance (UBI) empowers the customer and takes a lot of the complexity out of the insurance product, a speaker said Wednesday during KPMG’s 30th annual insurance conference.  “Personally, I love the idea of usage-based insurance and telematics,” Celyeste Power, chief strategy officer

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How much Intact has improved its personal property loss ratio

November 15, 2021 by Greg Meckbach

As home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe

News AdjustersClaimsClaims Canada ArchiveClaims TechnologyInsurersLoss ControlLoss TrendsPersonal Auto

Why Intact is paying out less on total auto losses

November 10, 2021 by Greg Meckbach

Intact Financial Corp. is maintaining a mid-80s combined ratio on its Canadian personal auto book of business, with a slight decrease in the severity of total losses. At Intact, the severity of claims on auto physical damage was 5% higher

News CatastrophesClaimsClaims Canada ArchiveCommercialInsurersLoss TrendsProperty

Three reasons Fairfax predicts a continuing hard market

November 5, 2021 by Greg Meckbach

As carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based