Canadian Underwriter

Topic Loss Trends

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Intact’s Brindamour: Why the hard market could last for up to two more years

August 20, 2020 by Greg Meckbach

A hard market in reinsurance is among three main reasons why primary insurance rates will continue to rise for brokers’ clients for at least another year or two, Intact Financial Corp. CEO Charles Brindamour suggests. In a recent virtual fireside

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How the largest commercial brokerage views its COVID E&O exposure

August 18, 2020 by Greg Meckbach

Although some commercial clients may start “suing everybody” because their business interruption insurance did not cover income lost during the pandemic, brokers could not have obtained broad-scale pandemic coverage for all clients even if they wanted to because the exposure

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Why the hard market reminds Fairfax CEO of 2001

August 14, 2020 by Greg Meckbach

Steep price increases that have hit brokers’ commercial clients will not continue for the long term, but the current hard market is reminiscent of the period after Sept. 11, 2001, when two planes destroyed the World Trade Centre in New

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How the UK pandemic business interruption test case could play out

August 13, 2020 by Greg Meckbach

The industry will likely learn next month the outcome of a business interruption coverage test case arising from the COVID-19 pandemic, but the verdict is likely to be appealed, a Bermuda insurance CEO suggests. The British Financial Conduct Authority filed

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Cleaning Up

August 12, 2020 by Greg Meckbach, Associate Editor

Tens of thousands of claims, for a grand total of $1.2 billion in insured damaged, have been filed from the June 13 hail storm that hit the Calgary area

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Three reasons why the hard market may drag on for years

August 12, 2020 by Greg Meckbach

Commercial clients are likely to see big price hikes at least through 2021 and the economic impact of COVID-19 is partly to blame, a Bermuda insurance executive suggests. “We saw double-digit rate increases in our Canadian specialty business,” Albert Benmichol, CEO

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Hot Lines

August 10, 2020 by Greg Meckbach, Associate Editor

A surge in directors and officers liability claims, withdrawal of some carriers from hospitality and high-profile cyberattacks are among the big trends now in commercial specialty

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Property claim cycle times are on the rise: Xactware data

August 10, 2020 by David Gambrill

While everyone in the Canadian property and casualty insurance industry knows that quick claims response times are critical to consumer satisfaction, cycle times for property claims in Canada increased overall between 2018 and 2019, according to the latest property damage

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As provincial economies re-open, insurers eye their auto claims frequencies

August 10, 2020 by David Gambrill

As if it weren’t enough with all of the recent news reports about natural catastrophe losses in Alberta, and claims against insurers for business interruption losses due to the COVID-19 pandemic, there is another, more familiar risk looming on the

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Policies under the microscope

August 7, 2020 by Greg Meckbach, Associate Editor

How the outcome of a test case in Britain over business interruption coverage during COVID-19 may reverberate throughout the Canadian commercial P&C market

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Financially, which of your clients are hurting the most?

August 7, 2020 by David Gambrill

Canadian construction and real estate development companies appear to be hurting the most during the pandemic, according to bankruptcy records kept by the federal government. Twenty-seven Canadian companies have been granted creditor protection since the novel coronavirus was declared a

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Fraudsters exposed in COVID-19

August 6, 2020 by Ephraim Stulberg, Partner, MDD Forensic Accountants

Here’s where, and why, insurers see more fraud claims being uncovered