Canadian Underwriter

Topic Loss Trends

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How bad Canada’s auto loss ratios are getting

September 11, 2020 by Greg Meckbach

The Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in

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COVID-19 compounds ongoing real estate insurance challenges

September 8, 2020 by Adam Malik

The global pandemic isn’t necessarily causing a large number of problems around insurance issues in the real estate sector, but it’s clogging up the pathway to making things better. “The way we’re thinking about real estate and insurance is that,

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How A.M. Best predicts pandemic could affect the Canadian P&C industry

September 8, 2020 by Greg Meckbach

An increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so

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How clients may argue BI covers pandemic if no physical damage occurs

September 4, 2020 by Greg Meckbach

Some clients seeking business interruption coverage arising from the COVID-19 pandemic are looking to the courts for a “generous” interpretation of policy wording, a Canadian lawyer says. “In the context of property damage claims related to the novel coronavirus, many

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How Gallagher prepares clients for D&O rate increases

September 4, 2020 by Greg Meckbach

If your clients are going to be hit with rate increases and major changes in terms and conditions to their directors’ and officers’ (D&O) liability policies, you might want to give them some advance warning. “We tend to prepare early

News CatastrophesClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsPersonal HomeProperty

More than one way to define a Cat

September 3, 2020 by Greg Meckbach

If you disagree with a co-worker on exactly what a catastrophe is, both of you could be right. There is no single standard definition of a “Cat,” with the industry’s loss costs — and even media coverage — among the

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MGAs finding it harder to place this kind of commercial coverage

September 1, 2020 by Greg Meckbach

If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner

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Adjuster training: How the industry can up its game

August 31, 2020 by Greg Meckbach

Canada’s property and casualty insurance industry needs to cross-train more claims adjusters if it wants to have enough property adjusters to be available in the event of a catastrophe, industry experts said last week. “Cross-training is important because it is

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Adjusting Calgary’s hailstorm: The rationale for bringing in U.S. Cat adjusters

August 28, 2020 by Greg Meckbach

During the hail storm this past June that damaged tens of thousands of Alberta homes, adjusting firm CRU Group struggled to find enough qualified independent catastrophe adjusters in Canada, and wound up resorting to bringing in people from the United

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The impact of MGAs getting more business

August 25, 2020 by Greg Meckbach

It is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now

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Opinion: Preparing for future risk? Look to what’s happened in the past

August 20, 2020 by Robert Muir-Wood, RMS

When evaluating unexpected catastrophe risks, our experiences can be sparse. Widening our knowledge by going back in time, by exploring the ‘near-misses’ and by expanding our geographic horizons is critical. Fortunately, big catastrophes are rare. This is good in that

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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