Canadian Underwriter

Topic Ontario

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News ClaimsClaims ProfessionalsCommercialInsurersLegalLiabilityOntario

Paid the claim? No need to re-appraise after limitation period, court says

March 12, 2024 by Alyssa DiSabatino

An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled.  “An admission of liability to pay on the part of an insurer

Good listener boss, listen and accept all opinion, suggestion or customer feedback concept, smart businessman
News Ontario

FSRA board director defends principles-based regulation

March 12, 2024 by David Gambrill

Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed

Discussing financial results
News ClaimsClaims Canada ArchiveInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoPersonal HomeTechnology

How Aviva Canada is handling personal lines’ pressures

March 8, 2024 by Jason Contant

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up

Two companies signing an agreement to merge
News BrokersMergers and AqcuisitionsOntario

Two firms complete Ontario acquisitions

March 8, 2024 by Philip Porado

BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides

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News AdjustersClaimsClaims ProfessionalsEmerging RisksInsurersOntarioPersonal HomePodcast

What insurers can expect from FSRA’s review of home insurance claims

March 8, 2024 by Alyssa DiSabatino

Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm.  Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,

Aviva Canada's 2023 financial results
News AlbertaCatastrophesClaimsClaims Canada ArchiveCommercialInsurersLoss TrendsManagementOntarioOperationsPersonal AutoPersonal HomeSupply Chain

How Aviva Canada fared in 2023

March 7, 2024 by Jason Contant

Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft.  The undiscounted ratio for 2023 was up

A businessman, under supervision, looks up at a large magnifying glass that is being held by large hand above him.
News BrokersCommercialEmerging RisksInsurersLiabilityManagementOntario

Industry responds to FSRA’s plan for insurer MGA supervision

March 7, 2024 by Alyssa DiSabatino

Potential risks stemming from P&C insurers’ managing general agent (MGA) outsourcing practices have caught the eye of Ontario’s insurance regulator, and it’s looking for feedback from stakeholders on a supervision plan.   Insurers and MGAs alike have begun to weigh

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News BrokersOntarioPersonal AutoRisk Managers

FSRA’s plans for auto coverage regulation

March 5, 2024 by Philip Porado

Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA

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News CatastrophesClaimsEnvironmentalOntarioPersonal Home

How clients can be motivated on climate action

March 5, 2024 by Jason Contant

Measures to help mitigate climate change are a known commodity, it’s just a matter of motivating the public, government and regulators to take action, speakers suggested Monday at an industry event. Climate change is irreversible, but its rate can be

Stressed out over bills piling up
News BrokersClaimsClaims Canada ArchiveEmerging RisksInsurersOntarioPersonal Home

Why clients are missing insurance payments — and risk policy cancellation

March 4, 2024 by Jason Contant

One Ontario brokerage has seen an increase in the number of clients missing insurance payments as well as cancellation notifications from insurers for non-payment.  For Mitch Insurance, the number of clients missing insurance payments has increased 104% since 2019. While

Canada Post Mailboxes
News InsurersOntarioPersonal Auto

Regulator defends use of territories for rating auto insurance

March 4, 2024 by David Gambrill

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday.

Frigid cold temperatures in Montreal
News ClaimsClaims Canada ArchiveEnvironmentalOntarioPersonal HomeQuebec

High winds, icy conditions leave many without power in Ontario and Quebec

February 29, 2024 by The Canadian Press

Extreme weather conditions were expected to continue across Canada on Thursday after a sharp cold front with high winds hit vast areas of Quebec and Ontario, knocking out power lines and leaving tens of thousands of people in the dark