Canadian Underwriter

Topic Loss Trends

Picking the lock of a car
News ClaimsClaims Canada ArchiveInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoTechnology

Police, insurers collaborate to dismantle auto theft ring

November 30, 2023 by Jason Contant

Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday.  As part of the investigation dubbed Project

New vehicles at an auto dealership holding lot
News BrokersClaimsCommercial AutoInsurersLoss ControlLoss TrendsPersonal Auto

Can car dealerships manage insurance risks from vehicle thefts?

November 27, 2023 by Philip Porado

Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.

Smoke from wildfires fills the sky in Yellowknife
News B.C.CatastrophesClaimsCommercialEmerging RisksInsurersLoss TrendsNWTPersonal AutoPersonal Home

Price tag for the insured wildfire losses in Northwest Territories

November 20, 2023 by David Gambrill

Insured wildfire damage in Hay River and Yellowknife, NWT, during the summer — which led to Canada’s largest evacuation ever — cost the P&C insurance industry a total of more than $60 million, Catastrophe Indices and Quantification (CatIQ) Inc. reported

Man hold a light bulb with a strategy icon
News ClaimsClaims Canada ArchiveCommercialInsurersLoss ControlLoss TrendsMergers and AqcuisitionsOperationsTechnology

How the M&A environment will affect carriers’ business models

November 17, 2023 by Jason Contant

Canadian P&C insurance industry carriers and service providers will need to transform their business models to help control claims and operating costs in an M&A environment featuring competing demands for capital, speakers said Thursday at KPMG’s 2023 Insurance Conference in

Person getting hurt while riding an e-scooter
News ClaimsCommercialEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsProperty

Whose insurer pays when e-scooter drivers crash?

November 17, 2023 by Philip Porado

News reports about drivers of stand-up e-scooters injuring pedestrians in several Canadian cities are raising questions about insurance coverage for the vehicles — and how injured pedestrians might recover damages. But what about the e-scooter drivers themselves? Can they recover

a car alone in a dimly lit parking lot
News AlbertaBrokersClaimsCommercial AutoEmerging RisksInsurersLoss TrendsOntarioPersonal AutoQuebec

The Top 10 stolen cars in Canada

November 14, 2023 by Alyssa DiSabatino

For the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association.  The auto insurance fraud prevention organization today announced its Top 10 Most Stolen Vehicles in Canada, which now includes

News BrokersCatastrophesCommercialCommercial AutoEmerging RisksEnvironmentalInsurersLoss TrendsPersonal AutoPersonal Home

How Intact’s third quarter results shaped up

November 9, 2023 by Alyssa DiSabatino

Intact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and commercial lines in 2023 Q3, and predicts this

Hurricane aftermath
News AdjustersBrokersClaimsCommercialEmerging RisksEnvironmentalInsurersLoss ControlLoss Trends

How to tame increasingly ferocious NatCats

November 6, 2023 by David Gambrill

Escalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims

Hurricane Fiona
News B.C.ClaimsInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomePropertyQuebec

Coastal storms: Could U.S. scenario happen here?

November 1, 2023 by Philip Porado

Increasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values

Ransom note to convey increase of cybercrime using ransomware
News ClaimsCommercialCommercial AutoCyberEmerging RisksInsurersLegalLiabilityLoss ControlLoss TrendsTechnology

What’s driving rising ransomware attacks

October 30, 2023 by Philip Porado

Ransomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their

Financial volatility
News CatastrophesClaimsClaims Canada ArchiveCommercialInsurersLoss ControlLoss TrendsProperty

Is it time for a new reinsurer to enter the market?

October 25, 2023 by Jason Contant

Canada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never

The insurance hard market can be a tough nut to crack
News CommercialCyberLegalLiabilityLoss TrendsRisk ManagersTrusted Advisor

How the hard market impacts public risk managers

October 25, 2023 by Alyssa Di Sabatino

Budgeting is where risk managers of publicly owned organizations feel the hard market the most. Public risk managers must often buy insurance for their entire region or branch while predicting what future losses may be. Like all risk managers, they