Canadian Underwriter

Topic Loss Trends

Solar panel and wind turbine farm clean energy.
News AdjustersBusiness InterruptionClaims Canada ArchiveCommercialEmerging RisksLoss TrendsPropertyRisk Managers

The biggest property risks for green energy

March 29, 2021 by Greg Meckbach

Floods, hail, fire, and lightning strikes are among the concerns for underwriters who insure green energy projects, an expert with RSA Canada says. And also, solar panel placement. Perhaps not many would link solar panel placement with flood risk, but

News ClaimsClaims ProfessionalsClaims TechnologyCommercial AutoInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoTechnology

How to detect insurance fraud before the tow truck turf wars start

March 26, 2021 by Jason Contant

Early identification of potential insurance fraud schemes through automation can help prevent scenarios like the towing turf wars in Ontario from spiralling out of control, the CEO and co-founder of FRISS said Wednesday. “I think it is crucial for the

News ClaimsClaims Canada ArchiveInsurersLoss ControlLoss TrendsOntarioPersonal HomeProperty

Ontario budget highlights property flood risk

March 25, 2021 by Greg Meckbach

Insurers are applauding the Ontario government for its commitment to improve flood mapping and to provide more money for municipal water infrastructure, measures that the industry hopes will reduce the risk of water damage to insured properties. In a press

News ClaimsInsurersLegalLoss ControlLoss TrendsTechnology

COVID’s impact on insurance fraud

March 25, 2021 by Jason Contant

Fraudsters are taking advantage of anxieties arising from the COVID-19 pandemic to exploit victims in the Canadian P&C insurance space in novel ways, speakers said during a fraud webinar Wednesday. For example, some body shops are charging drivers extra cleaning

News ClaimsCommercialCyberInsurersLiabilityLoss TrendsOperationsPersonal AutoPersonal HomeProperty

OSFI results: The good, the bad, and the ugly for Canada’s P&C industry

March 25, 2021 by David Gambrill

COVID-19 last year might have been the end of the world as we know it, to riff on a song by R.E.M., but Canada’s P&C insurance industry is doing fine — financially, at least. After a full year of the

News InsurersLoss TrendsOperationsPersonal AutoTechnology

How COVID has influenced usage-based auto insurance adoption

March 19, 2021 by Greg Meckbach

Motorists who are driving fewer kilometres than they were before the pandemic are more likely to select usage-based auto insurance, Intact Financial Corp. observes. “COVID has pushed consumers to recognize that maybe UBI would be a tool that will immediately

News CommercialInsurersLoss TrendsRisk Managers

Hospitality cover? This is a job for the Business Insurance Action Team

March 15, 2021 by Greg Meckbach

Hospitality clients are starting to get coverage from multiple carriers on a subscription basis through the Business Insurance Action Team, says the CEO of one of the participating insurers. Cambridge, Ont.-based Gore Mutual is participating in the BIAT, launched in

News B.C.ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialLegalLiabilityLoss TrendsPersonal HomeProperty

Why these B.C. strata owners didn’t have to pay the corporation’s $5,000 deductible

March 12, 2021 by Greg Meckbach

A British Columbia strata unit owner is not liable for their strata corporation’s $5,000 deductible on a property claim arising from a fire, the province’s civil resolution tribunal has ruled. The strata unit is on the fifth floor of a

News AlbertaCatastrophesClaimsClaims Canada ArchiveInsurersLoss TrendsPersonal HomeProperty

Why home insurance was so profitable for Intact in 2020

March 11, 2021 by Greg Meckbach

The hard market in home insurance is helping Canada’s largest P&C insurer make a healthy profit. But insurers need to maintain pricing discipline in personal property because weather catastrophe costs are increasing over time, suggests the chief financial officer at

News CatastrophesClaimsClaims Canada ArchiveEmerging RisksInsurersLoss TrendsPersonal HomeProperty

Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

News Business InterruptionCatastrophesClaims Canada ArchiveInsurersLegalLoss TrendsProperty

Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute

March 2, 2021 by Greg Meckbach

The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.

News CannabisClaimsCommercialEmerging RisksLiabilityLoss TrendsMGAsPropertySupply Chain

What’s smoking hot in cannabis insurance claims trends

February 24, 2021 by Jason Contant

Nearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said