Canadian Underwriter

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Person handing a stack of money toward the camera as a form of insurance salaries
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What commercial and personal lines brokers make in 2024

March 18, 2024 by Alyssa DiSabatino

Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows.  The second iteration of Impact’s annual Insurance

Boardwalk trail at One Mile Lake in Pemberton, BC
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B.C. bridge vulnerable during heavy rain events, mayor says

March 18, 2024 by Roisin Cullen, Local Journalism Initiative Reporter, Pique Newsmagazine – The Canadian Press

Pemberton’s recent heavy flooding highlights the challenges the area faces, according to Mayor Mike Richman.  The Village of Pemberton (VOP) declared a state of local emergency on Jan. 30 due to flooding, and many locals were displaced from their homes

Much of Nova Scotia paralyzed following snowstorm
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How winter storms tally this year compared to last

March 15, 2024 by Alyssa DiSabatino

Maritimers were digging out for days after historic levels of snowfall dropped atop Nova Scotia and P.E.I. in early February.   The multi-day storm produced nearly 5 feet of snow in Cape Breton, N.S. Then about two weeks later, Nova Scotians

Discussing financial results
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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

Home with truck outside
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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
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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

Concept of home insurance price increases
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How home insurance premiums are trending

March 6, 2024 by Jason Contant

Canadian home insurance policyholders should brace for price increases this year following a nearly 8% year-over-year increase since the beginning of the year, according to internal data from rate comparison site My Choice Financial. Canada’s home insurance landscape is poised for

Aerial view of homes flooded by record-breaking rainfall
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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

A gas station destroyed by the Bush Creek East wildfire in Squilax, B.C.
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Inaccurate data on forest fuels may stoke B.C. wildfires, study finds

March 4, 2024 by Brenna Owen - The Canadian Press

Wildfire fighting and forest management decisions are potentially being hampered by inaccurate government data that misrepresents forest fuel loads in British Columbia’s Interior, a new study has found.  The B.C. government says the provincial wildfire service is working with the

Stressed out over bills piling up
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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

Frigid cold temperatures in Montreal
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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

Hand holding two jigsaw puzzles pieces.
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Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press