Canadian Underwriter

Topic Loss Trends

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COVID shutdown not a ‘physical loss,’ insurance lawyer says

September 23, 2021 by Greg Meckbach

A recent Court of Appeal for Ontario ruling, in favour of commercial property insurer FM Global, could be good news for insurers facing pandemic business interruption claims but the decision may also be reviewed by the Supreme Court of Canada,

B.C. wildfires
News CatastrophesClaimsLoss TrendsPersonal HomeProperty

Insurance Bureau reacts to federal election results

September 22, 2021 by Greg Meckbach

Canada’s new government needs to focus on climate adaptation, says the industry’s association of property and casualty insurers. “After an unprecedented year of heat and wildfires across much of Canada, climate adaptation must receive more attention in the coming months

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss ControlLoss TrendsOperations

Why the hard market could be unsustainable

September 21, 2021 by Greg Meckbach

The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020,

News ClaimsClaims Canada ArchiveCommercial AutoInsurersLoss TrendsPersonal Auto

Where auto insurers are seeing the biggest profitability improvements

September 17, 2021 by Greg Meckbach

Canadian auto insurers saw both an increase in auto premiums and an improvement in their loss ratios in 2020, according to research from A.M. Best Company Inc. “Less miles driven translates into less frequency in auto losses,” A.M. Best director

News Business InterruptionClaimsInsurersLegalLoss TrendsRisk Managers

Business interruption class action against Aviva Canada now fully certified in Ontario

September 17, 2021 by Greg Meckbach

An Ontario manufacturer shuts down its factory for several weeks in the early stages of the COVID-19 pandemic. Factory managers re-configure the facility to allow workers to socially distance. Can that manufacturer get business insurance coverage if its policy wording

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionLoss TrendsPersonal HomeProperty

Why Intact CEO predicts more rate increases for homeowners

September 16, 2021 by Greg Meckbach

Despite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,”

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss Trends

Why A.M. Best says the Canadian industry profitability is improving

September 15, 2021 by Greg Meckbach

Despite the ongoing COVID-19 pandemic and increasing cost of weather catastrophes, the industry-wide combined ratio still improved 3.7 points last year and the pandemic is part of the reason, A.M. Best Company Inc. suggested in a report released Wednesday. The

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsCommercialLoss TrendsRisk Managers

Combined ratio drops 18.2 points in the Lloyd’s market

September 14, 2021 by Greg Meckbach

The Lloyd’s market has returned to profitability. The Corporation of Lloyd’s has reported a 2.1-point improvement in its attritional loss ratio, from 52.6% in during the first six months of 2020 to 50.5% in the first half of this year.

News AdjustersBrokersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsLoss TrendsNewfoundland & LabradorPersonal HomeProperty

Will Hurricane Larry meet the cat threshold?

September 14, 2021 by Greg Meckbach

Losses to Canadian clients, from Hurricane Larry, seem to be comprised mainly of wind damage to residential property on Newfoundland Avalon’s peninsula, according to reports from adjusters so far. Hurricane Larry, which originated in the North Atlantic Ocean, passed by

News ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialInsurersLegalLoss TrendsOntarioPropertyRisk Managers

Appeal court quashes ruling that ‘resulting physical damage’ can mean ‘loss of use’

September 13, 2021 by Greg Meckbach

Your commercial client could get business interruption coverage if they can no longer “use” their property, but only if the policy wording actually says so, a Court of Appeal for Ontario panel suggests. MDS Inc. v. Factory Mutual Insurance Company,

The roof of Mary Queen of Peace elementary school was torn off after Hurricane Larry crossed over Newfoundland's Avalon Peninsula in the early morning hours, in St. John's, Saturday, Sept. 11, 2021. THE CANADIAN PRESS/Paul Daly
News AdjustersBrokersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsCommercialInsurersLoss TrendsNewfoundland & LabradorPersonal HomeProperty

What we know so far about Canadian Hurricane Larry claims

September 12, 2021 by Greg Meckbach

Kent Rowe cannot remember winds as bad as they were this past weekend in the Newfoundland and Labrador capital. “We saw gusts here in St. John’s of up to 145 kilometres an hour that lasted for about five or six

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsLoss TrendsNewfoundland & LabradorPersonal HomeProperty

Hurricane Larry makes landfall in eastern Newfoundland

September 11, 2021 by THE CANADIAN PRESS

ST. JOHN’S, N.L. – Hurricane Larry made landfall as a Category 1 storm in eastern Newfoundland, arriving near South East Bight around midnight local time, according to the National Hurricane Centre in Miami. The storm crashed inland on the western