Canadian Underwriter

Topic Loss Trends

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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

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News Emerging RisksInsurersLoss ControlLoss Trends

Drones, phones and loss control: how inspections changed amid the pandemic

May 5, 2022 by Alyssa DiSabatino

Loss control strategies had to pivot amid the COVID-19 pandemic, and while many insurance carriers reverted to ‘Old School’ loss control inspections via the phone, some took it even further, industry experts share during a Canadian Underwriter webinar.   The

Disco ball.
News ClaimsClaims Canada ArchiveEmerging RisksInsurersLoss Trends

What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 by Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising

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News CommercialCommercial AutoEmerging RisksInsurersLoss TrendsMGAsOperationsPersonal AutoPersonal Home

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming

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News ClaimsClaims ProfessionalsCyberEmerging RisksInsurersLoss ControlLoss TrendsMGAsRisk ManagersTechnology

Why multi-factor authentication isn’t the cure-all for your client’s cyber woes

April 21, 2022 by Jason Contant

Staying one step ahead of cybercriminals seems to be a never-ending battle for insurers and insureds, cyber experts said during an industry event Wednesday. “The problem is, as we increase our cyber hygiene and become better insureds, the criminals adapt

Bombed out building in Ukraine painted in flag's colours.
News Claims ProfessionalsConstructionCyberInsurersLiabilityLoss ControlLoss TrendsPropertyRisk Managers

Ukraine war insured losses could outstrip 9-11

April 20, 2022 by Philip Porado

When adjusters are finally able to assess the damage stemming from the war in Ukraine, costs may exceed the Sept. 11, 2001 terror attacks as the largest industry-wide insured loss, across all classes of business, in history, said a specialty

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News AlbertaB.C.BrokersClaimsCommercial AutoInsurersLegalLiabilityLicensingLoss ControlLoss TrendsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.Personal AutoPropertyQuebecSaskatchewanYukon

A car crashes in Ontario: Why Canadian auto insurers pay attention

April 13, 2022 by Daniel Strigberger

People love to visit Ontario. Unfortunately, some of them get into car accidents. Why should a visitor’s auto insurer care about accidents in Ontario? Because when a non-resident is involved in an auto accident in the province, their insurers will

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News ClaimsCommercial AutoInsurersLoss TrendsPersonal Auto

How auto could be the force that eats into Canadian insurers’ results

April 8, 2022 by David Gambrill

With ROE levels in the Canadian P&C industry at a historic high of 17%, count Lloyds Canada among the list of insurance providers that caution the industry not to squander the hard-won gains of the hard market in a bid

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News CatastrophesClaimsEmerging RisksInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal AutoPersonal HomeProperty

What Canadians can expect of future hurricane seasons

April 7, 2022 by David Gambrill

Atlantic Canadians can expect to see more and increasingly intense hurricanes, as sea surface temperatures continue to warm up as a result of climate change. “Warmer sea surface temperatures fuel stronger hurricanes,” Swiss Re Canada CEO Monica Ningen observed during

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News Commercial AutoLoss TrendsOntarioPersonal AutoProperty

Will faster highway speeds lead to more claims?

April 7, 2022 by Philip Porado and Alyssa DiSabatino

Starting Apr. 22, Ontario drivers will be able to take six sections of highway, primarily in the southern part of the province, at 110 km/h. Highway segments where speeds will permanently rise from 100 km/h to 110 km/h are: Queen

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News BrokersCyberEmerging RisksLoss TrendsTrending

Do clients really want brokers to be risk advisors, too?

April 7, 2022 by Alyssa DiSabatino

Although 30% of commercial lines clients say they want to hear more from their broker about emerging threats to their business, there may be dissonance between their words and their actions, say broker experts.   Commercial lines consumers in Canadian

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News ClaimsCommercialCyberInsurersLiabilityLoss TrendsPersonal AutoPersonal HomeProperty

How profitable was Canada’s P&C industry last year?

April 7, 2022 by Jason Contant

Last year saw the lowest-ever combined ratio in the Canadian P&C insurance industry, making it the third most profitable year for Canada’s P&C insurance industry since 1975, according to the Property and Casualty Insurance Compensation Corporation (PACICC). “The 2021 industry