Canadian Underwriter

Topic Loss Trends

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Where Canada sits with high-risk flood insurance pool

February 3, 2021 by Greg Meckbach

Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation

News B.C.ClaimsInsurersLoss TrendsPersonal Auto

B.C. drivers to receive COVID-19 insurance rebate cheques averaging $190 next month

February 3, 2021 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – Almost three million drivers in British Columbia will receive COVID-19 insurance rebate cheques next month that average about $190 each, Premier John Horgan said Tuesday. The Insurance Corporation of British Columbia will return $600 million in net savings

News ClaimsCommercialInsurersLoss TrendsProperty

Get ready for a ‘multi-year correction’ upwards in commercial insurance pricing

February 2, 2021 by Greg Meckbach

Despite consecutive quarters of double-digit increases in specialty lines, commercial insurers are likely to continue raising your clients’ premiums even further in the coming years, a Bermuda insurance CEO warns. “While the pricing momentum we are seeing in both insurance

News AlbertaClaimsCommercialEmerging RisksInsurersLoss TrendsProperty

COVID’s impact on aviation insurance could be worse than you think

February 1, 2021 by Greg Meckbach

The drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID

News Claims Canada ArchiveInsurersLoss TrendsOntarioPersonal AutoTechnology

Telematics: Who’s jumping into the pool and who’s watching from the deck

January 28, 2021 by Greg Meckbach

Auto insurers are taking a variety of approaches to telematics: Some are observing from the sidelines, while others report growing interest from consumers. The Travelers Companies Inc. introduced IntelliDrive in Canada last week, as Michael Klein, president of personal insurance

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What the recovery from commercial hard market could look like

January 26, 2021 by Greg Meckbach

Brokers could see a “K-shaped” recovery from the hard market in commercial lines because some sectors have been hit harder by the COVID-19 pandemic than others, panelists observed in a webinar hosted Jan. 25 by Canadian Underwriter. Some commercial lines

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Six reasons why commercial prices will probably continue rising

January 25, 2021 by Greg Meckbach

Don’t expect a soft market for your commercial clients any time soon, executives with The Travelers Companies Inc. warn. Rates on renewal for business insurance were up 8.4% while rates in bond and specialty insurance increased by 12%, Travelers said

News Emerging RisksLiabilityLoss TrendsOntarioPersonal Auto

Suspension of licence renewal requirements for drivers 80 and older raises concerns

January 25, 2021 by Radha Kohly - THE CANADIAN PRESS

A decision to waive vision tests and other screening typically required to renew driver’s licences for Ontarians aged 80 and older during the pandemic has some in the medical community raising concerns about the risks the move poses to those

News Emerging RisksLoss TrendsTrending

Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021

January 20, 2021 by Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in

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What can go wrong when do-it-yourself clients try to replace home water heaters

January 19, 2021 by Greg Meckbach

Some homeowner clients could get in trouble if they try to replace water heaters themselves, by following do-it-yourself handyman advice they find somewhere on the Internet. Many home insurance policies specifically require that water heater installation be done by a

News Claims Canada ArchiveCommercialEmerging RisksLoss TrendsRisk ManagersTechnology

How social media can be a cyber attack vector

January 15, 2021 by Greg Meckbach

Cyber criminals are increasingly targeting workers through applications such as LinkedIn, WhatsApp, Facebook and Twitter, McAfee LLC warned in a report released Wednesday. Traditionally, cyber criminals have relied heavily on phishing as a way to target individual employees, McAfee chief

News ClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEmerging RisksHRLegalLiabilityLoss ControlLoss TrendsRisk Managers

How ‘take-home COVID’ can impact employers’ liability

January 13, 2021 by Greg Meckbach

COVID-19 can cause a commercial general liability claim if a commercial client is sued by the family member of a worker who has caught the disease at work and then infected family members, insurance law experts suggest. “Take-home COVID” is