Canadian Underwriter

Topic Property

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Opinion: This is where insurance companies need to look to be ready for tomorrow’s customers 

March 18, 2021 by Anthony Grosso, EIS

The acceleration of digital transformation in the pandemic era means insurance companies need to evolve, and that starts with reimagining your core technology systems. Over the insurance industry’s long history, a key hallmark has been its promise of peace-of-mind, trust

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What to tell clients when home insurer asks if property was previously a grow-op

March 18, 2021 by Greg Meckbach

Home insurance clients who move to a new property should have the premises inspected and let the insurer know if there are signs it has been used to grow cannabis. “If a home was a former cannabis grow-op, likely pipes

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Why these B.C. strata owners didn’t have to pay the corporation’s $5,000 deductible

March 12, 2021 by Greg Meckbach

A British Columbia strata unit owner is not liable for their strata corporation’s $5,000 deductible on a property claim arising from a fire, the province’s civil resolution tribunal has ruled. The strata unit is on the fifth floor of a

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Why home insurance was so profitable for Intact in 2020

March 11, 2021 by Greg Meckbach

The hard market in home insurance is helping Canada’s largest P&C insurer make a healthy profit. But insurers need to maintain pricing discipline in personal property because weather catastrophe costs are increasing over time, suggests the chief financial officer at

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Home insurer goes after ventilation unit manufacturers in subrogated fire claim

March 10, 2021 by Greg Meckbach

A subrogated claim arising from a Hamilton area home fire is raising the question of which equipment manufacturer, if any, is liable. In 2013, a fire caused extensive damage to the Ancaster, Ont., home of Mary Arlene and Rudolf Dosen.

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By how much productivity for restoration firms dropped in the pandemic

March 6, 2021 by Adam Malik

The head of a claims restoration company says it’s reasonable to believe that productivity in his company and the industry as a whole has dropped by nearly 20% due to the global COVID-19 pandemic. That would be on par with

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Advice from the U.S.: Canada needs exit strategy from national flood

March 4, 2021 by Greg Meckbach

Canada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance

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Lessons learned from ‘the toughest Cat season’

March 2, 2021 by Adam Malik

The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the

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Why reinsurers are watching how UK top court defined ‘occurrence’ in business interruption dispute

March 2, 2021 by Greg Meckbach

The British Supreme Court’s interpretation of the word “occurrence,” in its recent COVID-19 business interruption ruling, should not be applied to reinsurance excess of loss treaties, Guy Carpenter experts argue in a recent paper. In a decision released on Jan.

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What’s smoking hot in cannabis insurance claims trends

February 24, 2021 by Jason Contant

Nearly two-and-a-half years after recreational marijuana was legalized in Canada, the country’s P&C insurance industry is starting to get a sense of the type of claims arising from the October 2018 legalization. The big issue right now is vaping, said

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Property restoration space has ‘big capacity’ issue: Brindamour

February 19, 2021 by Greg Meckbach

Intact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade

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Canada’s hardest-hit commercial lines — and a reason for optimism

February 18, 2021 by David Gambrill

Commercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report