Canadian Underwriter

Topic Property

Threads intertwining to represent mergers of eight companies
News AlbertaB.C.BrokersBusiness InterruptionCommercialCommercial AutoConstructionCyberEnvironmentalHRLegalLiabilityManitobaMergers and AqcuisitionsMGAsOntarioOperationsPersonal AutoPersonal HomePropertyTrusted Advisor

Which firm racked up 8 mergers over the summer?

September 28, 2022 by Canadian Underwriter Staff

Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in

Auto accidents illustrate the need to avoid distracted driving
News BrokersClaimsCommercial AutoInsurersOntarioPersonal AutoPersonal HomePropertyTrusted Advisor

Texting while driving, and 4 other things that boost clients’ premiums

September 27, 2022 by Canadian Underwriter Staff

Client sent a text while driving and got caught? A conviction for that infraction beyond the police fine can cost a driver a 70% premium hike when it’s time to renew, said a new study from RatesDotCa. The study was

Two cottages destroyed by Fiona in PEI
News CatastrophesClaimsEnvironmentalNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal HomePropertyQuebecSupply Chain

Atlantic Canada assesses damage from post-tropical storm Fiona

September 26, 2022 by Jason Contant

Post-tropical storm Fiona swept through Atlantic Canada and eastern Quebec this weekend, knocking out power to hundreds of thousands of people, washing away homes and cottages, and causing widespread flooding and infrastructure damage. While the insured and economic damages associated

Illustration of a businessman holding a scale above his head with a house on one side and a bag of money on the other side
News BrokersClaimsClaims ProfessionalsCommercialInsurersLoss TrendsPersonal HomePropertyTrusted Advisor

How to ensure your clients’ property values are accurate amid volatility

September 26, 2022 by Alyssa Di Sabatino

Inaccurate property values were an industry-wide challenge in construction even before the pandemic brought economic volatility. So, how can you accurately quantify an insured’s risk when the pricing is so volatile? Clients are at risk of being underinsured when reported

Form containing fraudulent data
News ClaimsEmerging RisksPersonal AutoPersonal HomePropertyTrusted Advisor

Is Canada’s insurance industry becoming an online fraud target?

September 26, 2022 by Canadian Underwriter Staff

Canada’s insurance industry saw the highest increase in digital fraud attempts—up 125% between Q2 2021 and Q2 2022—of all industries in the country that were screened as part of a quarterly study from credit-reporting firm TransUnion. The only Canadian industries

Heavy rain in Halifax ahead of Hurricane Fiona's landfall
News ClaimsEmerging RisksEnvironmentalLoss ControlNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal HomeProperty

Hurricane risk: What the future holds for Canada

September 23, 2022 by Jason Contant

Canada will be increasingly at risk for more frequent and severe hurricanes going forward due to climate change, Swiss Re told Canadian Underwriter in an interview Friday. “Sea surface temperatures [are] rising, which means storms will be able to travel

Old piece of machinery
News Business InterruptionClaimsCommercialCommercial AutoConstructionCyberInsurersLoss TrendsProperty

Why insurers are rethinking coverage for older machinery

September 22, 2022 by Alyssa DiSabatino

Aging machinery and equipment are historically slow to get replaced. Add supply chain disruptions into the mix, and businesses with equipment breakdown coverage could be waiting longer for replacement parts or products, said Doug Laurin, director of national energy and

Gen Z woman working on her finances
News BrokersPersonal AutoPersonal HomePropertyTrusted Advisor

Which generations most want a broker’s advice?

September 20, 2022 by Canadian Underwriter Staff

Younger Canadians are more receptive to getting insurance advice from brokers, said a new survey commissioned by Chubb that examined attitudes across five generations. Specifically, the study found 46% of respondents in generation Z, which it defined as those born

Used car with for sale sign in window
News BrokersCommercial AutoEducationInsurersLoss ControlOntarioPersonal AutoPropertyTrusted Advisor

Brokers can help clients avoid purchasing stolen vehicles

September 19, 2022 by Philip Porado

One of the best things a broker can do for a client planning to buy a used car is to provide tips for making sure that vehicle isn’t stolen, said Bryan Gast, vice president of investigative services with Équité Association.

Breaking wave from hurricane-force winds
News CatastrophesClaimsEnvironmentalNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal HomeProperty

What’s Hurricane Fiona’s projected path into Canada?

September 19, 2022 by Jason Contant

Hurricane Fiona could strike Atlantic Canada with tropical storm-force winds or stronger by Saturday, according to projections from the hurricane forecasters in Canada and the U.S. An advisory issued 5 a.m. AST on Monday by the U.S. National Hurricane Center

Every cloud has a silver lining
News CommercialInsurersProperty

How inflation can become a ‘silver lining’ for the insurance industry

September 15, 2022 by Philip Porado

Interest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on

Is Canada going into recession?
News BrokersCatastrophesClaimsCommercialCommercial AutoConstructionInsurersLoss ControlPersonal AutoPersonal HomeProperty

Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 by David Gambrill

If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those