Canadian Underwriter

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CatIQ Connect

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Why you need to know the limits of your underwriting models

February 13, 2024 by Jason Contant

Vendors of underwriting models need to be transparent about the models’ limitations so underwriters and actuaries can understand where these limits could come into play, a speaker said last week at the CatIQ Connect conference in Toronto. Every single data

Emergency warning alert on a smartphone
News CatastrophesClaimsClaims CanadaInsuranceReinsuranceRisk

When the national earthquake early warning system goes live

February 8, 2024 by Jason Contant

Canada’s national earthquake early warning system is expected to go live in British Columbia in April followed by Ontario and Quebec this fall, a program manager for the federal government told delegates at CatIQ Connect Wednesday. The system works by

Young woman in a yellow shirt onlooking ruins of a house after fire disaster.
News AdjustersCatastrophesClaimsClaims CanadaClimate ChangeEngineeringInsurance

It’s time to address Canadian adjuster mobility, claims experts say

February 10, 2023 by Alyssa DiSabatino

Developing and effectively using the pool of Canadian claims adjusters for catastrophe response is a problem that continues to keep adjusting firms up at night, experts told a CatIQ Connect panel on Wednesday.  “Most people don’t realize that seven of

The atmospheric river in B.C. in November 2021
News CatastrophesClaimsInsurance

Why atmospheric rivers, derechos and bomb cyclones are on insurers’ radar

February 9, 2023 by Jason Contant

Wild and wacky weather events like atmospheric rivers, derechos and bomb cyclones may seem new because of recent media coverage, but they’ve been known and named phenomena for quite some time in the history of meteorology and atmospheric science, speakers

Earthquake in central Montreal
News ClaimsClaims CanadaInsuranceMarkets / CoveragesProductsRestorationRisk

What’s the best way to increase earthquake insurance take-up in Quebec?

February 8, 2023 by Jason Contant

The best way to get consumers to buy earthquake insurance in provinces like Quebec is to find a balance between highlighting the benefits of early intervention and not making the narrative too scary, a research social scientist told delegates at

A farmer wearing a straw hat and a plaid shirt kneels with one hand holding his head and one hand reaching towards his corn crop
News BrokersInsuranceRisk

Risk management outlooks crop up for farm insurers

July 20, 2022 by Alyssa DiSabatino

Farmers across Canada are being buffeted by a mix of drought conditions and hail damage in June and July, but insurers may be able to increase farmers’ risk management through drought and hail outlooks, experts explain.   Southern Ontario farmers

A woman in business wear faces a man across the desk from her. She is pointing to a stack of papers with a pen.
News Climate Change

How reinsurers are helping banks to assess their climate risk

February 24, 2022 by Alyssa DiSabatino

After Canada’s solvency regulator said the financial sector must better respond to climate-related risks, one Munich Re executive says the global reinsurer is working closely with banks and other federally regulated financial institutions on their climate risk approach. Banks, he

News ClaimsClaims CanadaInsuranceReinsurance

These socioeconomic factors are driving up property claims

December 7, 2021 by Greg Meckbach

Urbanization, the increasing popularity of solar panels and a greater awareness of what is covered insurance are among the factors driving an escalation of insured property losses, a speaker suggested at last week’s CatIQ Connect conference. “Urbanization means that we

News Insurance

What can be done just seconds before an earthquake hits?

December 7, 2021 by Jason Contant

Natural Resources Canada (NRC) is developing an earthquake early warning system that will provide valuable time before an earthquake strikes to allow protective measures to be put in place for people and critical infrastructure. “It can provide anywhere between seconds

Celebration at work
News Insurance

How to convince your clients that buying insurance isn’t a waste of money 

June 15, 2021 by Jason Contant

One of the biggest challenges for the insurance industry is convincing policyholders that they haven’t wasted their money if they constantly pay premiums but don’t have a claim.  To overcome this challenge, insurers should help policyholders celebrate the fact that

News Insurance

How to be really customer-centric: Lessons from the global insurance market

June 11, 2021 by Jason Contant

Canada’s property and casualty insurance industry should look towards the global insurance market for some insights about how to increase take-up rates, particularly among marginalized and low-income people, speakers said Thursday at the CatIQ Connect virtual conference. In the global

News CatastrophesClaimsClimate ChangeInsurance

The hard part of managing wildfire risk

February 26, 2020 by Greg Meckbach

Your clients may be doing all the right things to manage their wildfire risk, but what about the property halfway down the street? “You can have four homes in a row that are perfectly maintained, just the way they are