Canadian Underwriter

Topic Loss Trends

Robot holding a brain to represent artificial intelligence.
News ClaimsCommercialCyberEmerging RisksInsurersLiabilityLoss ControlLoss TrendsTechnology

How do you insure artificial intelligence?

June 15, 2022 by Alyssa DiSabatino

Picture this. Your client is manufacturing a car that includes software to apply the brakes automatically when approaching slow traffic. No doubt, this software has some built-in artificial intelligence (AI) elements. When insuring a vehicle manufacturer, it’s not too difficult

Humorous mobile cloud computing conceptual image
News ClaimsCommercialCyberEmerging RisksInsurersLiabilityLoss TrendsRisk Managers

How your large business clients can manage cyber risks they can’t see

June 14, 2022 by David Gambrill

In the wake of lifting of pandemic restrictions, digital transformation is becoming so extensive that organizations are having trouble getting a handle on their broadening cyber exposures. “As organizations grow and incorporate digital and cloud transformation into the fabric of

Flood and black smoke from a fire in Abbotsford
News B.C.CatastrophesEnvironmentalLoss Trends

P&C industry must get better at modelling secondary perils: reinsurance exec

June 13, 2022 by Jason Contant

The property and casualty insurance industry in Canada and globally needs to improve its modelling and understanding of secondary perils, which have seen increased frequency over the past decade, says a speaker from Swiss Re during an industry event. “We

House being lifted away by balloon.
News ClaimsCommercialCommercial AutoConstructionLoss ControlLoss TrendsPersonal AutoPersonal HomeProperty

Remember 1970s stagflation? Why insurers should pay attention to the World Bank

June 7, 2022 by Philip Porado

Lingering impacts of COVID-19 and Russia’s invasion of Ukraine have magnified a global economic slowdown and raised the risk of stagflation – in which long-term, feeble growth combines with high inflation – the World Bank says in its latest prospects

Container ship, heavily loaded, at sea.
News AdjustersBusiness InterruptionCatastrophesClaimsClaims ProfessionalsClaims TechnologyCommercialCyberEmerging RisksInsurersLoss ControlLoss TrendsSupply Chain

War and other factors loom over shipping sector: report

May 27, 2022 by Philip Porado

While fewer total losses of cargo ships worldwide is good news for marine insurers, the number of shipping casualties rose during 2021, said Allianz Global Corporate & Specialty’s (AGCS) annual Safety & Shipping Review. Globally, 54 total vessel losses were

Delta flooding after hurricane.
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How to speed up claims response for NatCats

May 25, 2022 by Yasser Korany, Mario Delorme and Mazen Habash

Extreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme

Rock climber getting a helping hand.
News Emerging RisksLoss ControlLoss TrendsRisk Managers

Why COVID-19 created opportunities for risk managers

May 19, 2022 by Jason Contant

Risk management professionals are gaining a voice in the executive ranks, partially because COVID-19’s helped raise the sector’s profile. “There is now a seat at that table where there never was before,” said Steve Pottle, chairman of the RIMS Canada

Map of Canada
News Business InterruptionClaimsCommercialCommercial AutoConstructionCyberInsurersLoss TrendsPersonal AutoPersonal HomeProperty

5 key trends in the Canadian P&C market, according to Aon

May 18, 2022 by Canadian Underwriter Staff

P&C insurers are actively managing how they deploy their global capacity for cyber insurance, and the underwriting process for that sector continues to gain rigor, said Aon’s quarterly global markets insights report. Although the frequency of cyber claims remained relatively

Upside down vehicle after car accident on forest road
News ClaimsInsurersLoss TrendsPersonal Auto

Two auto physical damage trends of concern to one insurer 

May 18, 2022 by Jason Contant

Definity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage.  “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase

House framed in new lumber while under construction
News AdjustersClaimsClaims ProfessionalsClaims TechnologyConstructionLoss ControlLoss TrendsPersonal HomeProperty

Rising lumber, materials costs lead claims professionals to tweak their approach

May 16, 2022 by Philip Porado

With the inflation rate at a 30-year high, specialists handling home reconstruction claims are making adjustments that reflect surging prices for construction components – including lumber, finishing materials and appliances. What started as supply chain problems, some of which were

Looking to the future
News CommercialInsurersLoss TrendsPersonal AutoTechnology

Industry’s 2022 results won’t be as good as 2021, Definity CEO predicts 

May 13, 2022 by Jason Contant

Definity Financial Corporation president and CEO Rowan Saunders doesn’t expect the Canadian P&C insurance industry’s return on equity to remain as elevated as it was last year.  In 2021, the industry’s ROE hit 17%. The industry also recorded the lowest-ever

Woman looking at horizon through binoculars.
News CommercialEducationEmerging RisksInsurersLoss ControlLoss TrendsOperationsPersonal AutoPersonal HomePropertyTrendingTrusted Advisor

4 insurance industry trends to watch

May 11, 2022 by Tara Kelly

In this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in