Canadian Underwriter

Topic Loss Trends

News ClaimsEmerging RisksInsurersLoss Trends

Why boat insurers are starting to feel more like car insurers these days

July 15, 2021 by Canadian Underwriter

Boats with high-tech safety gadgets are starting to look a lot more like cars nowadays — and that means more expensive and difficult repairs, as Aviva Canada reports. “The big trend we are seeing right now in watercraft is big

News AdjustersClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEducationInsurersLegalLiabilityLoss TrendsNova ScotiaOntarioPersonal Auto

Top court asked to create “new law” in waiver case involving insurer’s flip-flop on coverage

July 14, 2021 by Greg Meckbach

Canadian law on estoppel or waiver could change if the Supreme Court of Canada rules against RSA in Trial Lawyers Association of British Columbia v. Royal and Sun Alliance Insurance Company of Canada, a Vancouver-based insurance lawyer suggested Tuesday. Estoppel

News BrokersEnvironmentalInsurersLoss Trends

How green technology can leave insurers seeing red

July 13, 2021 by Adam Malik

Older green energy equipment is not equipped with the latest technology to protect it from increasingly severe weather events, meaning more claims activity for insurers, according to an expert in the area. Insurers have been seeing the effects of climate

News LegalLicensingLoss ControlLoss TrendsNova ScotiaPersonal Auto

Threat of adverse selection prompts auto carrier to start credit checks

July 13, 2021 by Greg Meckbach

Nova Scotia motorists who consent to a “soft” credit check from Economical Insurance will soon be eligible to get a discount on their auto premium, the province’s regulator announced Monday. The Nova Scotia Utility and Review Board (NSURB) has already

News BrokersClaimsCommercialCyberInsurersLoss TrendsRisk Managers

Doubled pricing, two-year recovery predicted for cyber lines, post-COVID

July 13, 2021 by David Gambrill

Brokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again. “I think the price has to reflect the

News ClaimsCommercialCyberInsurersLoss Trends

Cyber insurance rates likely to rise amid escalating ransomware attacks

July 12, 2021 by David Paddon - THE CANADIAN PRESS

TORONTO – Companies looking to purchase insurance against cyberattacks in which their data is held for ransom will soon find it more expensive and difficult to obtain, according to a cybersecurity expert. Brent Arnold, a partner at law firm Gowlings

News BrokersCommercialInsurersLiabilityLoss TrendsQuebec

Looking for a quick D&O rebound after COVID? Don’t hold your breath….

July 9, 2021 by David Gambrill

Brokers looking to see directors’ and officers’ (D&O) insurance pricing and capacity rebound quickly after the pandemic had better not hold their breath — especially with the Canadian government now starting to pull the plug on certain COVID relief measures

News ClaimsClaims Canada ArchiveClaims ProfessionalsEmerging RisksLoss ControlLoss TrendsPersonal HomePropertySupply Chain

Why your clients’ basements will probably leak eventually

July 7, 2021 by Greg Meckbach

Homeowner clients are battling the elements just by living below the ground floor, and so they will need to act quickly if they notice water pooling in their basement, a building supply vendor suggests. “Creating a comfortable living space in

News InsurersLegalLicensingLoss TrendsNova ScotiaPersonal AutoTechnology

Insurer ups distracted driving from minor to major conviction

July 6, 2021 by Greg Meckbach

Nova Scotia motorists could be out of luck when they try to renew their auto insurance if they got caught more than once using a hand-held gizmo when they should be paying attention to the road. In a ruling posted

News AdjustersClaimsClaims Canada ArchiveCommercialLoss ControlLoss TrendsPropertyRisk Managers

Restaurant fires and how they are caused

June 30, 2021 by Greg Meckbach

Kitchen exhaust and gas connections should be near the top of a restaurant client’s risk management agenda. Improperly maintained kitchen exhaust systems are a common cause of restaurant fires, wrote Larry Anderson, editor of TheBigRedGuide.com, in a recent article. This

Young electrical engineer woman and business man standing in front of wind turbines checking and working about technical problems
News BrokersClaimsClaims ProfessionalsCommercialEmerging RisksInsurersLoss Trends

Old equipment causing new problems for insurers

June 30, 2021 by Adam Malik

Insurers are getting a front-row seat in learning the risks that come from aging renewable energy-producing equipment, says an industry expert. The last 15 years have seen a spark in growth in the area of renewable energy development, particularly in

News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsProperty

How reinsurance prices could come down

June 29, 2021 by Greg Meckbach

Record-low interest rates are making insurance-linked securities attractive to some investors, and this could be good news for primary insurers. ILS includes but is not limited to catastrophe bonds, said Marcos Alvarez, Toronto-based senior vice president and head of insurance