Canadian Underwriter

Topic Property

Making a vacation reservation on a laptop
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Are your clients’ short-term rental properties properly insured?

November 9, 2022 by George Longo

With COVID-19 safety protocols all but eliminated in Canada, many people are travelling and need places to stay. As an alternative to hotels, some are taking short-term rental spaces through services like Airbnb, VRBO and other online platforms. Now that

Bartender at restaurant reaching for a wine glass
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Why new risks plague the hospitality sector post COVID-19

November 8, 2022 by Alyssa Di Sabatino

People can eat in restaurants across Canada without wearing a mask or providing proof of vaccination, a sign the risks initially associated with the spread of COVID-19 have lessened. But, with public health restrictions largely lifted, restaurant and bar owners

Palm trees in a hurricane
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How Cats will impact insurers’ and reinsurers’ pricing and investments

November 3, 2022 by Philip Porado

Rising cleanup costs following catastrophic weather events mean P&C insurers and reinsurers may have to adjust what they cover, and how they invest, global financial markets watchdog Fitch Ratings says. As Canada braces for its third year in a row

Bar graph displaying economic recovery
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How Canada’s P&C market shifted in 2022

November 1, 2022 by Alyssa DiSabatino

Market conditions remain complex but are stabilizing as the industry approaches its last quarter this year, Aon’s 2022 Canadian Insurance Market Report found. Increased competition, along with positive underwriting results and loss activity, marks a transition from significantly challenged market

Businesspeople shaking hands over a signed contract
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Selling your brokerage? Don’t forget to tell your clients

October 31, 2022 by Michael Carey

Imagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the

Aerial view of a small town with several houses completely flooded. Consequence of climate change.
News CatastrophesClaimsCommercialConstructionEmerging RisksInsurersPersonal HomeProperty

P&C insurers call for a real estate climate risk score

October 26, 2022 by David Gambrill

Canadian P&C insurers are banding with Canada Mortgage and Housing Corporation (CMHC) to push for the disclosure of a real estate “climate score,” indicating the likelihood of a building or property being damaged during a natural catastrophe. Insurance Bureau of

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Why insurance has street performers singing the blues

October 19, 2022 by Phil

Rising costs for busker’s insurance has street performers singing the blues. To hear them tell it, sky high insurance rates cut so far into their profits that it often makes more sense to just stay home. And, depending on the

Montreal skyline from the Lachine Canal
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Condo association calls for changes to help corporations recoup losses 

October 11, 2022 by Jason Contant

Quebec’s association representing condo corporations is reiterating a call on the newly re-elected provincial government to amend the Civil Code of Quebec to allow condo corporations to better recover losses from co-owners.  Currently, condo corporations (called syndicates in Quebec) are

Tree shredder and specialized dumper truck on a city street
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How do truck owners calculate downtime claims?

October 5, 2022 by Kevin Thomas and Tony Militello

When a business’ profits are dependent on having a truck or fleet of trucks fully operational, any downtime can lead to lost profits. For that reason, many purchase optional coverage and can make claims if a vehicle is inoperable due

Mara Elieser, whose husband kept a boat docked nearby, takes photos at the destroyed bridge leading to Pine Island, in the aftermath of Hurricane Ian in Spring Hill, Fla., Sunday, Oct. 2, 2022. The only bridge to the island is heavily damaged so it can only be reached by boat or air. (AP Photo/Gerald Herbert)
News AdjustersCatastrophesClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalLoss ControlLoss TrendsPersonal AutoPersonal HomePropertyRisk ManagersSupply Chain

How Hurricane Ian will strain insurers’ capacity

October 3, 2022 by Philip Porado

Hurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive

Rubble and damage from Hurricane Fiona in Newfoundland
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What happened to the ‘quiet’ hurricane season?

September 30, 2022 by Jason Contant

Not long ago, hurricane season began very quietly with no North Atlantic hurricanes in all of August. But now it appears 2022 could produce a record-breaking hurricane. Property data provider CoreLogic is predicting Hurricane Ian could be the costliest Florida

Workers cleaning up devastation from Hurricane Fiona
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What claims adjusters are seeing from Fiona

September 28, 2022 by Jason Contant

Claims adjusters are seeing a wide variety of personal and commercial lines claims in the wake of post-tropical storm Fiona – everything from food spoilage and infrastructure claims to total losses. “Currently, we are seeing claims for personal and commercial