Canadian Underwriter

Topic Loss Trends

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Watch out for litigation funding in Canada, industry execs warn

October 2, 2020 by Adam Malik

A leader in the Canadian P&C industry is sounding the alarm about the rise of litigation funding in Canada. Litigation funding is an arrangement in which a third-party company — not the plaintiff’s law firm — agrees to fund all

News InsurersLoss TrendsManagementOperations

How insurers are shifting investment strategies amid the pandemic

September 30, 2020 by Greg Meckbach

Changing the mix of real estate portfolios, selling international exposures and considering increasing insurance prices are among the measures Canadian insurers are taking to compensate for the impact of COVID-19 on investment results. Intact Financial Corp.’s investment portfolio turns over

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal HomeProperty

‘Much clearer picture’ of how Ottawa will address flood risk coming soon

September 29, 2020 by Greg Meckbach

A special pool, in which high-risk properties would have caps or subsidies on premiums for flood insurance, remains a possibility in Canada, and the industry should have a much better idea this fall of what the government plans to do,

News Business InterruptionClaimsClaims Canada ArchiveCommercialInsurersLiabilityLoss ControlLoss Trends

Intact warns of indirect economic impact from COVID

September 29, 2020 by Greg Meckbach

The economic impact of the COVID-19 pandemic is one of the biggest risks facing Canadian insurers, executives told a recent investors’ conference. “What can happen to us is what we call indirect losses,” Intact Financial Corp. CFO Louis Marcotte said

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How long will it take to get out of this hard market?

September 28, 2020 by Adam Malik

After setting aside as to whether or not we’re in a hard market, industry consultant Phil Cook said he expects the hard market to last into 2022. Cook, who is also chairman of Omega Insurance Holdings, typically gives his Industry

News Loss TrendsOntarioPersonal AutoTrending

The good news and bad news about Ontario auto

September 24, 2020 by Greg Meckbach

Ontario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID

News Business InterruptionClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEmerging RisksLegalLoss TrendsRisk Managers

How Canadian courts could be influenced by U.K. business interruption test case

September 23, 2020 by Greg Meckbach

A recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the

News AlbertaBrokersClaims Canada ArchiveInsurersLoss TrendsPersonal Auto

What happens in Alberta when auto insurers are not comfortable with their profitability

September 23, 2020 by Greg Meckbach

The Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday

News Business InterruptionClaimsClaims Canada ArchiveLegalLoss ControlLoss TrendsRisk Managers

Why restructuring firms are looking at their clients’ business interruption insurance 

September 22, 2020 by Greg Meckbach

Some clients who are in financial trouble because they had to close during the early days of the pandemic are having their business interruption insurance policies reviewed by consulting firms. With COVID-19, many businesses have reached out to BDO for

News ClaimsClaims Canada ArchiveCommercialEmerging RisksLoss ControlLoss TrendsRisk ManagersTrusted Advisor

How Northbridge is advising clients to prepare for second COVID-19 wave

September 18, 2020 by Greg Meckbach

One key component of preparing for the anticipated second wave of COVID-19 cases in Canada is for businesses to assess how they responded to the first wave of the disease, Northbridge Insurance is telling its commercial clients. “Many businesses that

News BrokersClaimsCommercialEmerging RisksInsurersLoss Trends

What’s unique to this hardened real estate insurance market

September 17, 2020 by Adam Malik

At the same time insurers have a reduced appetite to take on real estate risks, real estate developers during a pandemic-induced economic recession have an aversion to investing a lot of money into risk-reduction measures. These twin dynamics are a

News Loss Trends

North American stock markets climb on continuing positive outlook for economy

September 17, 2020 by The Canadian Press - Ross Marowits

TORONTO – North American stock markets climbed amid positive signals in Canada and elsewhere about the strength of a post-pandemic rebound. The good mood started with Chinese retail sales numbers moving back into positive terrain compared with a year earlier.